Chamber vows to address policy imbalance, funding of shipping industry

The Nigerian Chamber of Shipping (NCS) has promised to engage policymakers to tackle the challenges in shipping industry owing to policies and decisions taken by legislative and executive arms of government.

The President of NCS, Aminu Umar, stated this in a chat with journalists in Lagos recently. He said the chamber would channel its energy towards ensuring decisions and policies that affect the shipping sector are not taken without the engagement of the chamber.

He said the chamber would encourage and support collaborations and synergies with the Federal Government and all stakeholders that have a key interest in shipping and the development of the Nigerian maritime industry.

Umar said this would provide seamless working relationships, unity of purpose, strengthening of capacities and creation of advocacy opportunities that the chambers can leverage to facilitate growth.

Umar also said the NCS would partner with international institutions on collaborative programmes that Nigerians could benefit from.

“Members of NCS are mostly people who invested in shipping and what they want is to see or create an environment where they could network and able to do their business with profits.

“If you look at it today, a lot of shipping investors do not participate in formulation or anything that has to do with policies and we think that is where the problem lies, we should be part of the policymaking because the policy affects us.

“Most of the shipowners that have problems are because of some policies that make it difficult for them to operate and we want to look at those policies together with the policymakers and see if that can be reviewed,” he said.

Umar also pointed out the lack of finance affecting shipowners in the country, as the majority of them are unable to source funds to remain in business.

He said the biggest challenge of financing in the shipping business is fear of the financial institutions, noting there are funds available.