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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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Tompolo pays glowing tribute to Wike on his 58th birthday.

Funso OLOJO

High Chief Government Oweizide Ekpemupolo, popularly known as Tompolo, has eulogised the uncommon courage, resilience and unwavering sense of duty of Barrister Nyesom Wike, the Minister of Federal Capital Territory(FCT), describing these attributes as those that align with the Tantita’s objectives and work ethic.

Tompolo, the Chairman of Tantita Security Services Nigeria Limited, make this observation in his message to Wike on his 58th birthday, where he paid a glowing tribute to the FCT Minister.

According to him, Wike’s public life is a reflection of courage, conviction and an unwavering sense of duty.

Tompolo said Wike’s journey through public service—marked by legal brilliance, political audacity and firm decision-making—has consistently demonstrated that true leadership is defined by impact, not rhetoric.

He noted that from Wike’s formative years in public administration through his tenure as Governor of Rivers State and now as FCT Minister, his performance has remained anchored on results, resilience and a relentless commitment to public good.

“In the Federal Capital Territory, your presence is already being massively felt.

” The renewed focus on infrastructure, order, and accountability speaks to a hands-on leadership style that understands Abuja’s symbolic and practical importance to Nigeria’s unity and governance,” Tompolo said.

The TSSNL founder commended Wike for recognising the intrinsic connection between security, development and national stability, stressing that the minister’s insistence on law, order and institutional discipline aligns strongly with Tantita’s mission of protecting critical assets and fostering a safe environment for sustainable growth.

He added that Wike’s reputation as “Mr. Project” was well-earned, given his consistent record of performance and the courage to take difficult decisions when duty demanded it.

“In moments that demand firmness, you have chosen responsibility over convenience, standing by your convictions even when the path was difficult,” he said.

Tompolo prayed for renewed strength, sharper vision and continued success for the minister as he marks another year, expressing confidence that Wike’s service would continue to leave a lasting imprint on national development.

“Please accept my sincere best wishes for good health, wisdom, and continued success. May the years ahead bring fulfilment and further contributions to the progress and unity of Nigeria,” he added.

Headlines

Nigeria denies ownership of detained vessel

VLCC SKIPPER

Funso OLOJO

The management of the Nigerian Maritime Administration and Safety Agency (NIMASA) has clarified the status of a tanker vessel, MT SKIPPER, currently intercepted and detained by the United States Coast Guard(USCG) over alleged oil theft and other transnational crimes.

According to the statement from the Nigeria’s maritime industry apex regulatory agency, the vessel , Very Large Crude Carrier,is not a Nigerian – flagged vessel while its purported owners, Thomarose Global Ventures Limited, are not registered with NIMASA as a shipping company.

“An analysis of the vessel’s movement, monitored through the Agency’s Command, Control, Communication, Computers and Intelligence (C4i) Centre, shows that the vessel was last sighted in Nigerian waters on 1st July 2024.

“After departing Nigerian waters, the vessel continued on its international voyage pattern and was tracked operating in the Arabian Sea (Asia) and later in the Caribbean region, where the U.S. interdiction eventually took place.

“Records indicate that SKIPPER which was formerly owned by Triton Navigation Corp, has undergone multiple name changes over time.

“The Director General of NIMASA, Dr. Dayo Mobereola, reaffirmed the Agency’s commitment to collaborate with all relevant stakeholders, including U.S. authorities, in the ongoing investigations. He emphasized that criminality will not be tolerated in Nigerian waters” NIMASA stated in a public statement.

Headlines

Adeniyi, Akutah, Fakolade, Warredi, Maiwada headline 10th anniversary of seminar for maritime journalists in Lagos

Funso OLOJO

First Mediacon media group, the convener of the annual seminar for maritime journalists, has lined up an array of industry’s stakeholders to sharpen the intellectual capacity of maritime journalists at this year’s workshop.

The annual event, which is the 10th edition this year, holds December 17th, 2025 in Lagos.

According to the organisers of the programme, the cream of the maritime industry have been lined up to engage the industry’s media in intellectual discussions that will deepen the knowledge of its practitioners in digital trade facilitation, regulatory efficiency and the economic reforms.

Key speakers at the event include the Comptroller- General of the Nigeria Customs Service, Adewale Adeniyi, the Executive Secretary of the Nigerian Shippers Council, Barrister Akutah Ukeyima who is expected to deliver the keynote address, Mr Tola Fakolade, Director of the National Single Window, Mr Warredi Eniosuoh, who is expected to chair the event and Deputy Comptroller of Customs and the National Public Relations Officer of the NCS, Abdullahi Maiwada.

Maiwada is expected to deliver a practical training on “Data Analysis for Effective Maritime Reporting”

According to Mr. Sesan Onileimo, CEO of First Mediacon Network Limited and convener of the seminar, “the past decade has proven that accurate, data-driven journalism is vital to the growth of the maritime economy.

“This platform empowers journalists with the tools to properly analyse reforms, interrogate investments and provide the business community with credible information.”

Now in its tenth year, the seminar has become a major business intelligence platform, equipping maritime journalists with the technical insight required to analyse policy decisions, market trends and operational performance within the nation’s blue economy.

Over the years, it has helped strengthen the information value chain that supports investment decisions across ports, logistics, shipping, and inland trade corridors.

This year’s edition comes at a time when Nigeria’s maritime economy is undergoing significant transformation, driven by digitalisation, regulatory restructuring and demand for greater operational transparency.

Marking a decade of consistent impact, the organisers reaffirm their commitment to strengthening the professional capacity of the maritime media, while promoting a more transparent, efficient and investment-friendly maritime environment.