Akinseye Olatokunbo Aluko

Nigeria

Trading in Contradiction of the Nigerian Cabotage Act

By Akinseye Olatokunbo Aluko 2019-11-02 21:21:47

Nigeria's the oil and gas sector has accounted for almost 90 percent of its foreign exchange earnings. The country primarily exports crude oil and imports refined petroleum products. However, the transportation processes of both the exportation crude oil and the importation of the refined products are largely dominated by major international shipping and maritime companies. This process actually contradicts a section of the Cabotage Act of 2003:  PART n.-RESTRICTION OF VESSELS IN DOMESTIC COASTAL TRADE 3. A vessel other...

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Looking Towards Expansion of Nigeria's Maritime Industry

By Akinseye Olatokunbo Aluko 2019-10-12 22:21:54

Nigeria has been recognized globally as a reputable maritime nation with over 8,000 kilometers of navigable inland and coastal channels, as well as its fresh water lakes. However, it is struggling to strengthen its maritime sector with modern maritime architecture capable of boosting the country’s GDP.   Nigerian seaports are a significant example. They are relatively small for modern vessels to load or discharge liquefied products and bulk cargoes, and Nigerian waterways are not deep enough for the navigation of...

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