EMEA News
Restrictive Bunkering Practices Costing Nigeria $65 Million Annually: Reports
Nigeria is estimated to lose more than $65 million (N30.7billion) each year as a result of restrictive bunkering practices in the country, Nigerian media reports.
Basil Uba, Managing Director of Delta Marine Shipping Company Limited (Delta Marine), notes that, while there is no legislation in Nigeria that explicitly prohibits the provision of bunkering services, the Nigerian Navy often refers to the activity as "illegal bunkering," making it difficult for bunkering to be provided in the country.
Uba says that upward of 95 percent of the vessels operating in Nigeria, conduct their bunkering activities outside the country, largely in Port of Lome, Togo, or Ghana.
"It is a common knowledge that the Nigerian Navy, which is saddled with the responsibility of securing the nation's territorial waters, has so many vessels and platforms of various sizes and configuration. The question one has to ask is how does the Navy bunker its fleet?" questioned Uba.
Stakeholders are said to argue that an additional $65 million generated annually by enabling bunkering in the country could help Nigeria's economy and provide jobs.
Further, stakeholders have also suggested that such bunkering activities could be strictly regulated and monitored by the federal government in order to minimse related illegal activities.
