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Ship owners lament importation cost on vessels

By Joke Falaju, Abuja
28 October 2018   |   3:47 am
The Ship Owners Association of Nigeria (SOAN) has expressed worry over the 14 percent importation cost on Nigerian vessels.They said they are unable to compete favourably with foreign ship owners, who pay one percent custom bond on their vessels...

President of SOAN, Greg Ogbeifun

• Call For Incentives To Boost Sector
The Ship Owners Association of Nigeria (SOAN) has expressed worry over the 14 percent importation cost on Nigerian vessels.They said they are unable to compete favourably with foreign ship owners, who pay one percent custom bond on their vessels, as their countries provide them with incentives, enabling them to have more advantage.

The Chairman of SOAN, Mr. Greg Ogbeifun noted yesterday that the number of fleets in the country has dwindled over time, because of inability to compete with foreigners. He said this during a courtesy visit to the Minister of Budget and National Planning.

He added that governments of nations with vibrant shipping line provide incentives for their maritime industries and called for zero duty import charge on vessels.

The Executive Secretary of Nigerian Shippers Council (NSC), Hassan Bello, said government of major shipping nations approach the sector’s development as a national policy, which triggers incentive measures from relevant agencies and government.

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