Nigerian Ship Owners Association rejects federal government’s claim that ship owners contributed 350 million dollars over 17 years to the cabotage of vessel financing funds.
The objection is in response to the government’s recent approval of the funds disbursement.
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At a meeting of ship owners, discussions were centred on the latest developments in the sector they operate in.
Chairman, Board of Trustees (NISA), Chief Isaac Jolapamo, at the general meeting of the association, established that indigenous shipowners would have contributed more than $2 billion dollars to the fund against the Federal Government’s claim of $350 million
He said “For me who knows from the beginning and have an idea of how much the money is and minimum not less than 2 billion dollars.
“We want to get to the root of this, where is the money, 350 million will not do us any good as we cannot buy six Navy ships with it”.
As announced by the minister of Transportation recently, the cabotage Vessel Finance fund is soon to be disbursed but this indigenous shipping operators are disputing the quoted amount.
While they intend to pursue accountability from the Nigerian Maritime Administration and safety agency regarding its storage of the set
fund for close to two decades, the current internal tensions within the association may interfere with their ability to maintain the agitation.
To represent the association when the Cabotage Finance fund is being discussed by the federal government and other concerned agencies, the group has set up a six-month committee.
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