The Minister of Marine and Blue Economy, Adegboyega Oyetola
Stakeholders in the maritime industry are expected to explore solutions to the financial and regulatory challenges confronting indigenous shipowners at the 2026 Summit of the Shipping Correspondents Association of Nigeria, with the Minister of Marine and Blue Economy, Adegboyega Oyetola, expected to attend as the Special Guest of Honour.
In a recent statement, the organisers explained that the summit, scheduled for month-end in Lagos, is themed ‘Low-Risk Capital for Indigenous Shipowners: Overcoming Regulatory, Financial Bottlenecks’.
According to the organisers, the event is expected to bring together key government officials, maritime regulators, financial institutions, industry experts and shipowners to “examine practical strategies for improving access to affordable financing and strengthening indigenous participation in Nigeria’s shipping industry.”
The organisers explained that Oyetola’s participation comes amid growing calls for improved access to funding and a more enabling regulatory environment to support Nigerian shipowners and expand the capacity of the country’s indigenous fleet.
“The event holds under the Distinguished Chairmanship of a former Director-General of the Nigerian Maritime Administration and Safety Agency, Temisan Omatseye; the Keynote Speaker is Founding Partner, OAL, and former President of the Nigerian Bar Association Dr Olisa Agbakoba (SAN) ,” the statement read in part.
Speaking on the forthcoming event, the President of SCAN, Moses Ebosele, said that despite Nigeria’s rich maritime potential, foreign operators have continued to dominate the nation’s maritime domain, “controlling over 95 per cent of the carriage of Nigerian imports, exports, and associated freight earnings, while local participation remains critically low, with indigenous shipowners capturing only about four to five per cent of the market.”
Also commenting, the chairman of the organising committee, Yusuf Babalola, said the summit serves as an opportunity for stakeholders to brainstorm on how to find permanent solutions to the challenge.