Headlines

Ameachi blames indigenous ship owners over Nigeria’s inability to own national shipping line

Rotimi Amaechi, Minister of Transportation

Eyewitness reporter

The Minister of Transportation, Rotimi Amaechi, has said that the inability of indigenous ship owners to raise 60 per cent equity shares in the proposed joint venture national shipping company was responsible for the failure of the proposed national carrier to take off.

Nigeria, in 2016, has proposed the establishment of a national shipping line in a joint venture arrangement that will replace the collapsed Nigeria National Shipping Line(NNSL) in the 90s.

Towards this end, the Federal Government signed a Joint Venture (JV) partnership with Pacific International Line( PIL), a Singaporean consortium, on shareholding of 60:40 for the establishment of national carrier.

The 60 percent equity share was to be held by a group of indigenous shipping firms while the remaining 40 percent shares go to the foreign firm.

However, six years after, the proposed joint venture business has gone awary as the foreign investors have since pulled out.

Amaechi revealed that the failure of the Nigerian investors to raise their own 60 equity shares led to the collapse of the agreement and the disengagement of the foreign investors.

“Unless Nigerians provide 60 percent of the investment as required by law, establishing a national shipping line would not be realisable”, Ameachi declared at the weekend in Benin, Edo state during the thanksgiving service to mark the 71st birthday celebration of the Chairman , Starzs Investment Company Ltd, Engr. Gregory Utomwen Ogbeifun.

The minister further revealed that the law requires that 60 percent of the funding be provided by Nigerians while the remaining 40 percent be contributed by the Singaporian consurtium .

He said the plan has become practically impossible due to the unwillingness of major players in the maritime industry to raise such amount.

He said though a foreign firm had assured of providing 100 percent of the money required for setting up the shipping line, Ameachi said he would not grant such approval as doing so would amount to flouting the law.

” For not having a national shipping line, some stakeholders in the maritime sector think that I may not have done well. The law setting up a national shipping line says that Nigerians would provide 60 percent of the investment and foreigners will provide 4o percent”

“So, I went to Singapore, got a company that accepted to bring the forty percent but unfortunately, till today, no Nigerian has been able to provide the remaining sixty percent. The company had said to me that they would bring all the 100 percent and hire some Nigerians as stakeholders, but I disagreed because that would amount to breaking the law”.

“There is also a company in Dubai that said they would set up the national shipping line by providing the 100 percent but I have told them that the law only allows them (foreigners) to provide 40 percent.”.

“Unless we amend the law to enable us allow foreigners to own 60 percent of the investment and employ Nigerians, but as the law is today, there is no way a foreigner can have 100 percent.

“As a minister, my job is not to bring the money but to create an enabling environment for business to thrive”, Amaechi explained.

Related Topics:featured Why National Carrier project

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Headlines

NIWA partners ICPC to strengthen internal transparency in its operations

Gloria Odion, Maritime Reporter

The National Inland Waterways Authority (NIWA) has announced new strategies aimed at improving its operational system and enhancing collaboration with key stakeholders as part of efforts to boost efficiency and accountability.

Speaking at a post event Press Conference at NIWA Headquarters Lokoja, the Acting Managing Director, Umar Yusuf Girei, while answering questions from journalists stated that, the organization convened a two -day Executive and Anti-Corruption training with the theme “Strengthening Integrity and Revenue System in Inland Waterways Management” organized for Board Members, Management and Area Managers and also 2026 NIWA Management Retreat in Abuja.

The Acting MD noted as part of the Renewed Hope Agenda of President Bola Ahmed Tinubu,with the support Adegboyega Oyetola, Minister of Marine and Blue Economy, the Authority is focused on aligning institutional goals in ensuring better service delivery to Nigerians.

He further said, as part of its anti-corruption drive, the Management held discussions with the Independent Corrupt Practices and Other Related Offences Commission (ICPC) to explore measures for strengthening transparency within its operations.

Girei therefore, assured staff that the ongoing reforms under his watch would translate into improved service and better working conditions.

“NIWA remains committed to continuous improvement and stakeholder engagement and the reforms are expected to enhance both internal performance and public confidence”. he stated.

Headlines

Navy appoints new Maritime Guard Commander for NIMASA

Gloria Odion, Maritime Reporter

The Chief of the Naval Staff, Vice Admiral Idi Abbas, has approved the appointment of Commodore Reginald Odeodi Adoki as the Commander of the Maritime Guard Command at the Nigerian Maritime Administration and Safety Agency (NIMASA).

Commodore Adoki takes over from Commodore H.C Oriekeze who has been redeployed.

Commodore Adoki, a principal Warfare Officer specializing in communication and intelligence, brings onboard 25 years experience in the Nigerian Navy covering training, staff and operations.

As a seaman, he has commanded NNS Andoni, NNS Kyanwa and NNS Kada.

It was under his command that NNS Kada under took her maiden voyage, sailing from the country of build (the United Arab Emirates) into Nigeria.

He was commissioned into the Nigerian Navy in 2000 with a BSc in Mathematics.

He has since earned a Masters in International Law and Diplomacy from the University of Lagos and an M.Sc in Terrorism, Security and Policing at University of Leicester, England.

He is currently pursuing a Ph.D in Defence and Security Studies at the National Defence Academy (NDA).

He is a highly decorated officer with several medals for distinguished service.

Welcoming the new MGC Commander to the Agency, the Director General, Dr Dayo Mobereola, expressed confidence in Adoki’s addition to the team, emphasising that it will further strengthen the nation’s maritime security architecture given his vast experience in the industry.

The Maritime Guard Command domiciled in NIMASA was established as part of the resolutions of the Memorandum of Understanding (MoU) with the Nigerian Navy to assist NIMASA strengthen operational efficiency in Nigeria’s territorial waters, especially through enforcement of security, safety and other maritime regulations.

Customs

Customs collects N1.585 trillion from 51 compliant traders under AEO programme

Funso OLOJO, Editor

The Authorized Economic Operator (AEO), one of the trade facilitation tools introduced by the Nigeria Customs Service in 2025, has begun to yield bountiful harvests with the revenue growth of ₦362.79 billion recorded in 2025.

According to the AEO scorecard released by the Service, the facilitation tool grossed the sum of N1.585 trillion after certification, an increase revenue from N1.222 trillion before certification.

This represents the growth of N362.79 billion(29.68 per cent) for 51 AEO – certified entities as at October, 2025.

The Programme, according to the NCS, also contributed 21.77% to its total revenue collection of ₦7.281 trillion in 2025, while customs duties paid rose by 85.66% due to enhanced compliance and increased volumes of legitimate trade.

According to AEO Monitoring and Evaluation (M&E) Report, the Programme achieved an average compliance rate of 85.45 per cent with the highest at 100 per cent and the lowest at 60 per cent.

“The evaluation applied rigorous methodologies to ensure objectivity, transparency, and alignment with the World Customs Organisation (WCO) SAFE Framework of Standards and the provisions of the Nigeria Customs Service Act, 2023.

“In the area of trade facilitation, AEO participation reduced average cargo clearance time from 168 hours to 41 hours, representing a 75.60% time saving.

“Company operating costs declined by 57.2 per cent while demurrage payments dropped by 90 per cent, limiting capital flight to foreign-owned port service providers and strengthening foreign exchange retention.

” Overall trade efficiency improved by 77.11 per through digitalisation, simplified procedures, and targeted risk management” the Customs declared in the AEO scorecard.

However, the Service singled out with Eight companies for commendation due to their integrity and compliance under the programme.

The companies include Coleman Technical Industries Limited, WACOT Rice Limited, ROMSON Oil Field Services Ltd, WACOT Limited, Chi Farms Ltd, CORMART Nigeria Ltd, PZ Cussons Nigeria Plc, Nigerian Bottling Company Limited and MTN Nigeria Communications Plc.

The Service lauded them for a cumulative voluntary remittance of over a billion naira into the Federation Account following their self-initiated transaction review and disclosure.

“These actions reflect the strengthening of post-clearance audit mechanisms and a growing culture of voluntary compliance within the trading community.

Nevertheless, the Service suspended a firm under the programme for its non- compliance and display of lack of integrity.

The suspended firm engaged in false declaration of consignments contrary to programme obligations.

“Consequently, the Comptroller-General of Customs, Bashir Adewale Adeniyi, directed the immediate suspension of the company’s AEO status in accordance with the AEO Guidelines, the WCO SAFE Framework of Standards, and Section 112 of the Nigeria Customs Service Act, 2023.

The NCS reiterated that the AEO Programme is founded on trust, transparency, and continuous compliance.

“While compliant operators will continue to benefit from expedited clearance and reduced inspection, appropriate sanctions will be applied where violations are established.

“The Service remains resolute in safeguarding national revenue, facilitating legitimate trade, and preserving the integrity and global credibility of Nigeria’s AEO framework” the NCS concluded in the report.