A major operator in Nigeria’s shipping industry has said that Lebanese and Indians now in control of over 95 per cent of the coastal and inland shipping business in the country. This unfortunate trend remains even after 12 years following the enactment of the Coastal and Inland Shipping Cabotage Act 2003 designed to enhance indigenous participation in shipping activities. The Cabotage Act, which promotes a protectionist policy, provides that the vessels to be deployed for coastal and inland shipping in the country must be build in Nigeria, owned by Nigerians, crewed by Nigerians and registered in Nigeria.
Chairman, Genesis Worldwide Shipping Limited, one of the few surviving indigenous shipping companies, Captain Emmanuel Ihenacho, stated that the objectives of the Cabotage policy in the country was yet to be achieved, as foreigners still control coastal and inland shipping business in the country. He said due to the misapplication of the waiver clause, which has subjected it to flagrant abuse, Nigerian operators have been completely forced out of the business, which has almost become an exclusive preserve for foreigners, especially Lebanese and Indians.
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