Nigeria Loses $700m Monthly on Shipment of Crude Oil – NISA

The president, Nigeria Indigenous Ship Owners Association (NISA), Mr Aminu Umar, said the nation was losing 700 million dollars monthly (N137.9 billion) to dominance of crude oil shipment by foreign shipowners.Umar made the disclosure in an interview with the News Agency of Nigeria (NAN) on Thursday in Lagos on the sideline of the Annual General Meeting of the association. He urged the Federal Government to grant indigenous shipowners between 10 to 20 per cent allocation in lifting crude oil. The shipowner said that Nigeria was losing a huge amount of money due to the fact that the foreign shipowners had dominated the transportation of crude oil. “Almost 70 to 77 crude oil vessels load oil monthly out of Nigeria. “The foreign shipowners do not employ Nigerians and they do not pay tax. “What we are telling the Federal Government is to give us the support so that we can take at least 10 per cent of the crude oil vessels operating in Nigerian waters,“ Umar told NAN.