FOREIGN FLEETS MAINTAIN DOMINANCE IN NIGERIA’S MARITIME SUPPORT INDUSTRY

Foreign-owned vessels continue to dominate Nigeria’s maritime support industry, with stakeholders expressing concern over the limited participation of indigenous operators in the sector.

Industry experts said the dominance of foreign fleets has reduced business opportunities for local shipping companies and slowed the growth of indigenous capacity in maritime services.

They argued that despite existing local content policies, Nigerian operators still face challenges such as limited access to financing, ageing vessels, high operating costs, and inadequate infrastructure.

Stakeholders called for stronger implementation of policies that encourage the use of locally owned vessels in offshore support services, logistics, and other maritime operations.

They also urged the government to provide financial incentives, favourable credit facilities, and regulatory support to enable indigenous companies to compete effectively with foreign operators.

According to industry players, increasing local participation would create jobs, promote technology transfer, strengthen the maritime value chain, and retain more revenue within the country’s economy.

Maritime analysts stressed that developing indigenous shipping capacity is essential to enhancing Nigeria’s competitiveness and achieving long-term growth in the blue economy.

They further recommended improved collaboration between government agencies, financial institutions, and private investors to support fleet expansion and modernisation.

Stakeholders expressed optimism that sustained reforms and investment in local operators could gradually reduce dependence on foreign fleets and boost Nigeria’s maritime industry.

The call for greater indigenous participation reflects broader efforts to strengthen the nation’s shipping sector, improve economic diversification, and maximise the benefits of its maritime resources.