Nigerian shipowners are facing a significant challenge when it comes to ship repairs, as they continue to spend between $15 million and $20 million annually on repairing their ships abroad.

This is despite the Nigerian Maritime Administration and Safety Agency (NIMASA) acquiring a N50 billion floating dock.

Aminu Umar, President of the Nigerian Chamber of Shipping, revealed that ship repairs have been a major issue for operators, leading them to take their vessels to other African countries such as Senegal, Ghana, and South Africa.

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He emphasized the lack of dry docks in Nigeria and highlighted the high costs involved in dry docking abroad, ranging from $1.5 million to $2 million per vessel.

Umar suggested that NIMASA should sell the floating dock to the private sector, as its role as a regulator conflicts with its position as a dry dock operator.

Dr. George Onyung, President of the Shipowners Association of Nigeria, pointed out the limited capacity of existing shipyards and NIMASA’s dry dock to handle larger vessels.

He criticized the lack of sufficient consultation and transparency in the acquisition of the floating dock by NIMASA.