Nigeria’s on/off debate on resurrecting a national flag carrier has attracted the ire of the country’s shipowners.
The long talked about plan to bring back defunct Nigerian National Shipping Line (NNSL) is now firmly on the drawing board of the current minister of transport, Rotimi Amaechi, who has repeatedly pledged to invest heavily in developing the West African state’s maritime capabilities.
However, local owners are aghast that Amaechi plans to raid the $255m that has accrued via the Cabotage Vessel Financing Fund (CVFF) to fund the refloat of NNSL.
Speculation earlier this year had suggested the fund had been used for non-shipping purposes, but Amaechi has said the cash is there and will be used this year to bring NNSL back to life.
Local shipowners, worried about a loss of business, have vowed to fight the move.
