SCAN Summit to Address Financing Crisis in Nigerian Shipping

The Shipping Correspondent of Nigeria (SCAN) is organizing a summit on October 29 at Rockview Hotels, Apapa, Lagos, aimed at addressing the financing and regulatory constraints that limit indigenous participation in Nigeria's shipping industry. Themed “Low-Risk Capital for Indigenous Shipowners: Overcoming Regulatory, Financial Bottlenecks,” the summit comes in light of foreign operators dominating over 95 percent of Nigeria's import and export carriage.

Indigenous shipowners currently account for only about four to five percent of the market. SCAN President, Moses Ebosele, attributed the low local participation to funding gaps, high interest rates, and regulatory bottlenecks.

The summit will gather policymakers, regulators, lenders, shipowners, and maritime experts to discuss practical measures for unlocking affordable capital and creating a supportive regulatory environment. Keynote speaker Dr Olisa Agbakoba (OON) and chair Dr Temisan Omatseye will lead discussions on financing models and policy interventions to strengthen Nigeria’s national fleet.

Other expected participants include Dr Abubakar Dantsoho, Dr Dayo Mobereola, and Dr Pius Akutah.