President of the Nigerian Association of Master Mariners (NAMM) on Monday said
that lack of finance had hindered the development of local shipping operations.
Lagos that a number of shippers who operated small crafts such as barges had
found it difficult to maintain their fleet.
banks in Nigeria treated request for financing for shipping operations.
they cannot access funds from the banks.
improve on the shipping operations,” he said.
not benefited from the cabotage law because it was difficult for individuals
to buy ships.
when companies want to give contracts and it becomes difficult when you cannot
access funds to acquire the specified vessel for the operation.
vessel financing fund has not also been accessible and people cannot continue
waiting for no fixed time,” Osah said.
operations difficult by owing for service rendered, adding that arbitration had
also not been able to solve the problem.
“It is as bad as charterers of barges not paying
for close to one year, and arbitration efforts have also not been able to solve
the problem,” Osah said.