Breakfast Meeting (Feb 16, 2012)

The Nigerian Chamber of Shipping had its members ''Breakfast Meeting'' on the 16th February, 2012. At Protea Hotel, Awolowo road, Lagos. With the Theme: '' IMPACT OF SHIPPING TO THE NATIONAL GROSS DOMESTIC PRODUCT (DGP) Post Fuel Subsidy Removal.

The NCS as the umbrella body for the maritime/shipping industry is committed to building capacity and engendering constructive and developmental programmes. As the platform and the recognised voice of the industry representing the shipping and logistics sector in the Nigerian Content Consultative Forum of the Nigerian Content Development and Monitoring Board, it is imbued with the responsibility of presenting an objective perspective for the industry towards enhancing the indigenous businesses.

The Vice President of the Chamber Mr. Andy Isichei who stood in for the president appreciated those who made it to the breakfast meeting and expressed hope that the subsidy removal will impact positively on shipping and those economic aggregates that ultimately improve the national gross domestic product (GDP)

He was hopeful that the meeting rise with constructive decisions that will steer the course of the Nigerian maritime industry. The Director General Mrs. Ify Anazonwu-Akerele also said the Chamber was providing a level playing field between Government and the industry players and introduced some of the new members of the Chamber like Lamnalco and Bourbon.

The keynote address titled: Positive Impact of Subsidy Removal on the National Economy'' was delivered by the Senior Special Assistant to the President on maritime services Mr. Leke Olugbenga Oyewole. In which he offered the following as immediate gains. Blocking of revenue leakages, Improving accountability, minimizing of smuggling activities, Attention to the petroleum industry bill (PIB) and NNPC reforms. And positioned that there will be more prosperous future with bourgeoning GDP and positive impact on the balance of trade.

The financial perspective by the GMD Skye Bank Mr. Kehinde Durosimi-Etti who was represented by Mr. Segun Opeke gave an overview of the Nigerian maritime industry, major challenges of the industry and the oil and gas sector which is majorly foreign dominated with only about 10% of Nigerian owned vessels lifting crude and equally difficult for Nigerian owned vessels to carry wet cargo which constitute 80% of domestic cargo between Nigerian Ports.

He spoke on security concern which has led to increased insurance premium on ships calling at Nigerian ports and the non comprehensive review of regulatory laws in line with global trends and the refinery which are still comatose leading to high crude export rather than export of refined petroleum products which would have bettered the economy.

The role of Skye bank on the Nigerian maritime industry was highlighted which has led to the Banks position as the leading maritime bank in the Country.

After the presentations, participants expressed their views and explanations were made by those who delivered papers.



The VC NCS charged the removal of subsidy should be supported and advocated that all the refineries will then work and impact positively on shipping.

The meeting therefore decided to write the president on the issues stated below:

1. The challenges faced by operators on the long term contract with IOCs
2. NCS-led view on ways of tackling piracy, surveillance and security of our waterways
3. On ways and means of de-classifying Nigeria on the piracy index
4. On NIMASA sloppiness in handling issues/processes
5. PPMC issues and the progress made so far.