Nigerian shipowners have called on major cargo owners, particularly the Dangote Group, to support the growth of indigenous shipping by awarding long-term cargo contracts that would enable local operators expand their fleets and compete more effectively.
The appeal was made during a Public-Private Dialogue organised by the Nigerian Chamber of Shipping in Lagos, where stakeholders examined strategies for strengthening local participation in maritime transportation.
Speaking at the event, former Nigeria Chapter President of the African Shipowners Association and Group Managing Director of Seamate Maritime Integrated Services Limited, Capt. Ladi Olubowale, argued that access to cargo remains the most critical factor for the survival and growth of shipping companies.
He explained that long-term Contracts of Affreightment (CoAs) provide predictable revenue streams that make it easier for shipowners to secure financing from banks and international lenders for vessel acquisition and fleet expansion.
According to Olubowale, the Dangote Group, through its refinery, fertiliser and cement businesses, generates substantial maritime cargo volumes and is uniquely positioned to support local shipping operators by allocating portions of its transportation requirements to qualified indigenous firms.
He noted that such arrangements would create opportunities for Nigerian-owned vessels to participate more actively in the transportation of petroleum products, fertiliser, cement and other bulk commodities.
The maritime expert also expressed concern over the continued dominance of foreign-controlled vessels in the lifting of Nigerian crude oil and other exports, arguing that the trend limits local capacity development and reduces economic benefits that could remain within the country.
To address the challenge, he proposed a four-pillar framework centred on Cargo, Contract, Finance and Vessel ownership, which he believes would provide a sustainable pathway for building a stronger indigenous shipping industry.
Industry stakeholders maintain that increasing local participation in maritime logistics would create jobs, boost foreign exchange earnings and strengthen Nigeria’s position as a major maritime hub in Africa. As discussions continue, shipowners are hoping that large cargo-generating companies will play a more active role in supporting the development of local shipping capacity.
