The Chairman of Integrated Oil and Gas Company, Captain Emmanuel Iheanacho, has emphasized the advantages of Nigerian shipowners focusing on the tanker trade rather than liner services. Iheanacho believes that mastering the tanker trade is easier due to its simplicity of carrying one cargo with a single Bill of Lading. In contrast, liner services involve complex logistics and administrative tasks associated with carrying numerous containers and smaller goods.
Highlighting the potential for growth in Nigeria’s shipping industry, Iheanacho suggests that the country could have capitalized on its shipping potential by developing and harvesting it further. He commends the Maritime Academy of Nigeria, Oron, for providing high-quality training but stresses the importance of linking the academy’s output with national capacity, particularly through vessel ownership.
Iheanacho expresses concerns about missed opportunities and advocates for Nigerian involvement in the transportation of the country’s trade goods. He believes that participating in this business would not only generate profits but also allow for the acquisition of engineering and technical skills while establishing international linkages.
Regarding the proposed merger of the Nigeria Customs Service, the Nigerian Maritime Administration and Safety Agency (NIMASA), and the Federal Inland Revenue Service (FIRS), Iheanacho considers it a “slip of the tongue.” He questions the rationale behind such a merger, highlighting the distinct roles of NIMASA in developing shipping capacity and regulating safety, while FIRS and Customs primarily focus on revenue generation and collection. He suggests that a merger between FIRS and Customs alone would be more reasonable speculation.
Overall, Iheanacho’s insights underscore the benefits of concentrating on the tanker trade, the potential for growth in Nigeria’s shipping industry, and the need for strategic linkages and national capacity development.