SCAN Summit to Tackle Financing, Regulatory Bottlenecks for Indigenous Shipowners

The Shipping Correspondents Association of Nigeria (SCAN) is organizing its 2026 Summit to confront the persistent financial and regulatory obstacles hindering indigenous shipowners. Scheduled for October 29, 2026, at Rockview Hotels in Apapa, Lagos, the event will focus on "Low-Risk Capital for Indigenous Shipowners: Overcoming Regulatory, Financial Bottlenecks."

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Low-Risk Capital for Indigenous Shipowners: Overcoming Regulatory, Financial Bottlenecks

The summit's primary goal is to identify practical strategies for securing adequate funding and fostering an environment that boosts the capacity and participation of Nigerian-owned vessels in both domestic and international shipping.

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Despite Nigeria’s rich maritime potential, foreign operators have continued to dominate the nation’s maritime domain controlling over 95% of the carriage of Nigerian imports, exports, and associated freight earnings, while the local participation remains critically low, with indigenous ship owners capturing only about 4% to 5% of the market.

SCAN President Moses Ebosele highlighted that despite Nigeria's significant maritime potential, foreign companies dominate the sector. They control over 95% of the nation's import and export carriage, along with associated freight earnings. Local shipowners capture a mere 4% to 5% of this market. Ebosele attributed this disparity to systemic funding gaps, high interest rates, and regulatory hurdles faced by local operators. The summit is expected to convene key decision-makers and regulatory bodies to find solutions.

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this was largely due to systemic funding gaps, high interest rates, and regulatory bottlenecks faced by local fleet operators