Business
NIMASA Moves To Encourage Indigenous Ship Owners
Following the stern measures put in place by the Nigerian Maritime Administration and Safety Agency (NIMASA) to ensure that only Nigerians flagged vessels participate in ship-to-ship transfers, indigenous ship owners who have been worried over their inability to participate in lifting petroleum products may soon heave a sigh of relief.
The Tide investigation revealed that the agency had recently sent out a marine notice, declaring that transfer of products from ship to ship to foreign-flagged vessels in Nigeria is illegal. It was gathered that the refined products are brought into the country by mother ship, which anchor on high seas so that smaller vessels could come and transfer the products to the jetties.
A staff of NIMASA, in Port Harcourt office who spoke on condition of anonymity told The Tide that the Director-General of the agency had concluded plan to acquire platforms to enable it carry out enforcement.
He noted that the agency has documentations to buy four boats with 45 horse power each. Also, in this year’s tender, the agency is hoping to buy 28 big boats and an additional helicopter. “When we are talking about 28 boats, we are talking about a big boat that has on board, two or three interceptors,” he said.
According to him, the earlier helicopter was faulty and the engine had been taken back to the manufacturers because it is still within the warranty period, adding that once the helicopter is working, the agency will put the radar on and it is going to be a surveillance helicopter.
He asserted that the boats will go out to sea and when they spot offenders, smaller boats will be used to pursue them, saying that NIMASA Director-General, Omatseye has however, urged the indigenous ship owners to make efforts to meet the requirements set to participate in lifting petroleum products, which include ensuring the vessel is classed and must have P&I cover, because that is what the foreign vessels are using.
He explained that if the indigenous owners get the requirements done, and are still being deprived the contract to lift, they should say it, adding that some of indigenous vessels are actually not good enough.
The facility will be disbursed through participating Microfinance Institutions (MFIs), which will in turn extend the loans to their customers, particularly SMEs, as they directly interface with businesses at the grassroots level.
The Executive Director of COMCIN, Mr. Micheal Ogbaa who represented the Chairman, Dr. Iredele Oyedele (FCA, FCCA), said the initiative is designed to strengthen micro-lending institutions and expand access to finance for grassroots entrepreneurs, particularly women and youths in the informal sector.
Ogbaa explained that COMCIN does not lend directly to individuals but works through its network of microfinance and cooperative institutions, which in turn provide loans to end users.
“We came together to advocate for the microfinance ecosystem. Commercial banks often exclude people at the grassroots, but our members are positioned to reach them. This facility will empower them to do more,” he said.
He noted that the loan scheme offers low interest rates and flexible repayment plans, making it more accessible to small business owners.
According to him, about 90 percent of beneficiaries are expected to be women, who play a key role in sustaining families and driving economic activities at the local level.
“Our focus is on traders, service providers, and players in the informal sector. These are the real movers of the economy. By supporting them, we are strengthening families and contributing to national development,” he added.
Ogbaa disclosed that eligible SMEs with proven integrity and business track records could access up to N5 million each through participating micro-lending institutions. The rollout has commenced in Lagos and will extend to Abuja, Enugu, and other regions, including the South-West, South-East, and North-East.
He said 12 micro-lending institutions have already benefited from the scheme, while 85 applications are currently being processed under the pilot phase.
“Our target is to reach at least 100,000 SMEs nationwide. We are building a platform that connects funding partners with credible micro-lending institutions, creating a reliable channel for financial inclusion,” Ogbaa said.
He added that COMCIN is also working to attract larger funding pools from development finance institutions and private investors, noting that successful implementation of the pilot phase would boost confidence and unlock more capital for SMEs.
“We have seen encouraging testimonies from early beneficiaries. As we demonstrate transparency and efficiency, more institutions will be willing to channel funds through us,” he said.
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