Interview: Trade structure determines participation in shipping— Iheanacho, Nigerian Ship-owner
In this interview that took place on the sidelines of the Business Luncheon recently organised by the Women’s International Shipping and Trading Association (WISTA) Nigeria, which focused on issues of opportunities for seafarers in Nigeria, Iheanacho said it was only natural to state that opportunities for seafarers depended on opportunities for vessels to participate in trade. He also gave his views on how best the government could handle the disbursement of the Cabotage Vessel Financing Fund(CVFF) for the development of the shipping sub-sector.
assignments. So, it just didn’t work because there was the United Nations Conference on Trade and Development formula known as the UNCTAD 40-40-20, but the Europeans then had an exception, which was the exception that if you had an agreement with the carrier, that you will carry 100 per cent, and that was what was going to happen. So, they proceeded on that basis and the 40-40-20 is history, long time history.