A former Executive Secretary/CEO of the Nigerian Shippers’ Council (NSC), Barr. Hassan Bello has urged the Central Bank of Nigeria (CBN) to provide support fund of between 2 percent and 9 percent per annum directly to the shipping sector in Nigeria to stimulate growth in the sector.
Bello who spoke virtually during a panel discussion at the just concluded Nigeria International Maritime Summit held in Lagos recently with the theme, “Becoming A Significant Maritime Nation”, stated that other industries had received attention directly from the federal government especially the agriculture and entertainment sectors.
His words, “What I have always said is that other industries have received attention directly especially agriculture even Nollywood. So, what we are saying is that the Central Bank should directly look at the shipping sector and provide support fund between 2% to 9% per annum so that we can use this. Now, this is not a blanket project or a subsidy but we have to put back in return what the country is not benefitting.”
He went on to hint that from 2015 to 2019, Nigerians paid $45 billion as freight charge both on wet and dry cargoes even as he imagined a proportion of that coming to Nigeria if Nigerians had ships.
“Now, in 2018, 4,691 vessels berth on the Nigerian ports and you guess right, only 365 or 7.8% are Nigerian vessels. We cannot continue with that and that is why it is important we have to seek the consent of the Minister of Transportation and in my handing over note, I have emphasized on urgent need to the new Executive Secretary of the Nigerian Shippers’ Council and he has been briefed and I think very soon, the meeting with the ship owners who are significant members of this committee will be held so that we can go ahead”, he added.
On terms of shipment especially Cost, Insurance and Freight (CIF) and Free on Board (FOB) as it relates to affreightment of Nigerian crude, Bello disclosed that they have made stringent efforts as according to him, “we met with the NNPC and some of its subsidiaries to see that these things are done.”
“So, not in buying akara, national fleet is not buying over the counter, you will need to have that political will which I never believe in before but now you need that political will. When you have that political will, represented by the Minister of Transportation, we need it to be all high; Central Bank, Nigeria Customs Service, economic growth and the Ministry of Finance and so on and so forth”, he concluded.
Photo: Barr. Hassan Bello, immediate past Executive Secretary/CEO, Nigerian Shippers’ Council (NSC).
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