$50bn oil and gas revenue goes to foreigners – NIMASA DG

The Nigerian Maritime Administration and Safety Agency (NIMASA) has expressed worries on foreign dominance in the nation’s shipping subsector , saying that 95 percent of income goes to foreigners.

The Director General of the agency, Dr. Peterside Dakuku, said this at a one day seminar with the theme: Local Content Development in Shipping, Oil and Gas Logistics Operations in Nigeria, organised by Maritime Reporters Association of Nigeria (MARAN) in Lagos.

Dakuku who was represented at the event by Assistant Director, Shipping Development, Mrs Hannah Akpan said, 95 percent of the income from the annual throughput of 150 million metric tons transactions, goes to foreigners.

He said, “Industry statistics shows that the country generates an estimated annual cargo throughput of 150 million metric tons with freight earnings in excess of $50billion in her international trade transactions.

“95 percent of this income is earned by foreigners, with the job deprivation to the country that goes with it.

“The same dominance by foreigners, is also extended to the domestic shipping market where the estimated $3 billion annual marine related spending in the oil and gas production activities are virtually earned by foreigners.”