The Shipping Correspondents Association of Nigeria (SCAN) has called for affordable financing, regulatory reforms and improved maritime infrastructure to strengthen the capacity of indigenous shipowners and enhance their competitiveness in the Nigerian shipping industry.
President of SCAN, Moses Ebosele, made the call on Thursday in Lagos while delivering his welcome address at the association’s 2026 Annual Summit.
The summit, themed, “Low-Risk Capital for Indigenous Shipowners: Overcoming Regulatory, Financial Bottlenecks,” brought together stakeholders in the maritime industry to examine the challenges confronting Nigerian shipowners and identify practical solutions to the problems.
Ebosele identified limited access to affordable finance, high vessel acquisition and maintenance costs, multiple charges, administrative bottlenecks and inconsistent policy implementation as some of the major obstacles affecting indigenous participation in the shipping business.
He noted that the high cost of borrowing and stringent lending conditions had made it difficult for indigenous operators to acquire vessels, expand their fleets and compete with foreign shipping companies.
According to him, Nigeria’s vast coastline, strategic maritime location and substantial volume of international trade present enormous opportunities for economic growth, employment generation, technology transfer and foreign exchange earnings.
He, however, stressed that the country could only maximise these opportunities through a strong and competitive indigenous shipping industry.
The SCAN president explained that a viable domestic shipping sector would enable Nigeria to retain a greater share of revenue generated from maritime transportation, create employment opportunities for Nigerian seafarers and maritime professionals, support local shipbuilding and repair facilities, and strengthen the country’s economic independence.
He also identified inadequate ship repair facilities, insufficient dry-docking capacity, port inefficiencies, maritime security concerns and limited access to cargo as issues requiring urgent attention.
On the way forward, Ebosele called on the Federal Government, development finance institutions, commercial banks and other financial partners to develop accessible and sustainable long-term financing arrangements that recognise the capital-intensive nature of the shipping business.
He emphasised the need for effective management and utilisation of the Cabotage Vessel Financing Fund (CVFF), in accordance with the applicable legal and administrative framework.
“Indigenous operators need to see tangible outcomes from policies and funding arrangements established to support their growth,” he said.
He further urged maritime regulatory agencies to simplify administrative procedures, harmonise charges where appropriate and create a predictable operating environment capable of attracting long-term investments.
Ebosele also advocated stronger implementation of existing maritime laws and policies designed to promote Nigerian participation in shipping, noting that such measures must be transparent, consistent and supported by effective monitoring.
He encouraged partnerships between indigenous shipowners and established international shipping companies, explaining that such collaborations could provide access to capital, technology, technical expertise and international markets.
The SCAN president equally called for increased investment in maritime education, seafarer training and professional development to equip Nigerians with the skills required to support the sustainable growth of the industry.
He maintained that improved maritime infrastructure, stronger security along waterways and shipping routes, and closer collaboration between public and private sector stakeholders were essential to creating an enabling environment for indigenous operators.
According to him, the identified challenges are interconnected and require a comprehensive strategy that addresses the financial, regulatory, operational and structural constraints confronting shipowners.
On the role of the media, Ebosele said maritime journalists had a responsibility beyond reporting industry activities, stressing the need to promote informed debate, hold relevant authorities accountable and provide platforms for constructive engagement among stakeholders.
He said the media would continue to highlight the concerns of indigenous shipowners, examine the effectiveness of government policies and draw attention to opportunities capable of transforming the maritime sector.
He, however, urged maritime journalists to ensure that their reports remained factual, balanced and solution-oriented.
Ebosele described the development of indigenous shipping capacity as a collective responsibility requiring the commitment of the Federal Government, National Assembly, maritime regulatory agencies, financial institutions, port operators, cargo owners, training institutions and the private sector.
He urged participants at the summit to move beyond identifying the challenges and focus on developing practical recommendations that could be communicated to the relevant authorities for implementation.
“At the end of this conference, we should be able to present clear recommendations that can be communicated to the appropriate authorities and followed up to ensure that meaningful progress is achieved,” he said.
He further called for the recognition of indigenous shipping as a strategic national economic asset, rather than merely a private commercial undertaking, noting that a viable domestic shipping industry could contribute significantly to job creation, foreign exchange conservation, revenue generation and national economic resilience.
Ebosele expressed optimism that with political will, access to capital, effective regulation and sustained collaboration, Nigeria could develop a competitive indigenous shipping industry capable of contributing meaningfully to national economic development.
He urged stakeholders to ensure that the summit’s deliberations translated into clear policies, measurable targets, defined responsibilities and timelines for implementation.
