The President, Nigeria Indigenous Ship Owners Association (NISA), Mr Aminu Umar, said the nation was losing 700 million dollars monthly (N137.9 billion) to dominance of crude oil shipment by foreign ship-owners. Umar made the disclosure in an interview with the News Agency of Nigeria (NAN) on Thursday in Lagos on the sideline of the Annual General Meeting of the association.
He urged the Federal Government to grant indigenous ship-owners between 10 to 20 per cent allocation in lifting crude oil. The ship-owner said that Nigeria was losing a huge amount of money due to the fact that the foreign ship-owners had dominated the transportation of crude oil. “Almost 70 to 77 crude oil vessels load oil monthly out of Nigeria.