The founding President and current Chairman of the Board of Trustees ( BoT) of the Nigerian Shipowners Association (NISA), Chief Isaac Jolapamo has labeled the nation’s shipping industry 2025 performance as below expectation, stating that the sector is merely going in circles.

 Speaking in an interview  with our source on the industry’s performance in 2025 and outlook for 2026, Chief Jolapamo argued that despite Nigeria”s return to the International Maritime Organization (IMO) Council, the Marine and Blue Economy ministry only prioritized port infrastructure and administrative milestones while the real job of developing indigenous shipping capacity was completely neglected.

His words, “We have since the days of National Maritime Authority (NMA) been performing below expectation. That is my assessment.

 There has not been anything for last year that we can say outside the IMO category C election and to me IMO just gave them the seat so that we can let them rest.

“The work is not about port development; it is about shipping development- that is the heart of the industry but unfortunately we are still going in circles.

There must be something to show. Take, for instance, during Buhari’s time, we talked of having a national shipping carrier but since Ameachi didn’t get what he wanted to do, they just jettisoned it.

 “We have spent two years with this government and I thought by now they could have picked such a thing up immediately and make it work by bringing in the professionals who can midwife it.

 “Not that you want a national carrier and you are tending towards a foreign company. It’s not done. So, to me, if they have achieved that in two years or done something along that line and returned to IMO like they did last year, that would have been good. I commend the government but the reality is what I’m saying. More work still needs to be done.

Chief Jolapamo lamented the lack of incentives for Nigerians to fly the national flag, noting that many wealthy Nigerians own vessels but choose to register them under flags of convenience abroad to avoid the hurdles of the Nigerian register.

 “Registering a Nigerian flag is not attractive for international trade. We have so many Nigerians that own vessels but may not want to register it in Nigeria because of challenges associated with a Nigerian register,”

 Jolapamo stated, noting that Nigeria must consider running both open and closed registries to attract indigenous tonnages back home.

Jolapamo also lamented the current state of the Cabotage Act, which was designed to protect local shipowners but has instead become a source of frustration. He blamed bureaucracy for stripping the law of its effectiveness through a lack of understanding.

 “We fought for the Cabotage law to start small and grow big, but too many cooks have spoiled the soup. We have lost all the tonnages we once had, ” he lamented.

 The veteran shipowner also spoke on the delayed Cabotage Vessel Financing Fund (CVFF), which failed to meet its August 2025 disbursement target.

 “It is not even attractive to go and take the CVFF money anymore because there is no job to do. You cannot take money when you don’t have a steady job to do with the ship. “Some of us that started shipping some 50 years ago, we borrowed money from foreign bank on the basis of the job that we have to do with the ship.

 You cannot go and take money when you don’t have a steady job to do with it. If you have experience, yes, the bank can give you when they know there is job to do but not on contract basis, ” he said.

 On his expectations for 2026, Jolapamo urged the government to exercise stronger political will by mandating that major cargo interests, such as the Dangote Group and the NNPC to cede a portion of their shipping services to indigenous operators.

 He dismissed claims that Nigerians lack the capacity to lift crude oil just as he advocated for training contracts to phase out foreign crews in favor of local officers.

“If we don’t have the officers that can run the vessels, of course, those ships can be run by foreigners with training contract, say after six months, a Nigerian will become a third officer and after nine months, a Nigerian will be able to captain the vessel. That’s how it’s done in other climes, ” he said.

 Chief Jolapamo acknowledged that while the achievement of the IMO Category C seat provides an advantage, Nigeria must take the opportunity to develop it’s shipping capacity.

 “I think there is going to be stability this year. Now that they are at IMO they should buckle up to do the work. The work is not about port development; it is about shipping development.

“Let the Cabotage Act work.  It is not rocket science. The political will must be there. We were not operating cabotage before and we were doing well in shipping.

By: Nkpemenyie Mcdominic, Lagos