As Nigerian businesses continue to contend with the scarcity of foreign exchange, shipowners in the country want a policy change with regards to the currency of choice for Nigerian flagged vessels trading in the nation’s waters.
The leadership of the Nigerian Indigenous Shipowners Association has questioned the rationale behind the charging of local shipping transactions in dollars.
The acting president of the group, Aminu Umar is of the opinion that government agencies should promote maritime activities in the country, ensuring that shipping transaction by Nigerians are transacted in local currency.
Advertisement
He further explained that the rules of engagement for indigenous shipowners have not allowed for fair competition.
