Local ship owners seek access to N2.3tr fund

Indigenous ship owners have urged the federal government to include them in the list of those to benefit from the N2.3 trillion Survival Fund.

The indigenous ship owners insist that the continuous neglect of the sector by the government was impacting negatively on the maritime sector which is presently grossly dominated by foreign liners.

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The Survival Fund is being handled by the Vice President, Prof. Yemi Osinbajo, as a component of the Economic Sustainability Plans (ESP).

The Survival Fund was developed as a stimulus package to boost local production and prevent businesses from collapsing.

It is also meant to provide liquidity across various sectors of the economy, particularly for Small and Medium Enterprises (SMEs).

Speaking with our correspondent on the Survival Fund, Capt. Deji Abegunde, who is a ship owner appealed to the federal government to extend the benefit to local ship owners, noting that the sector is currently dominated by foreign liners.

Abegunde said the indigenous ship owners are not getting support from the government, rather their businesses are being witch-hunted.