The Nigerian Shipowners Association (NSA) has said that it is making plans to get involved in the exportation of crude oil to international markets, The Punch reports.
Currently, no Nigerian shipowner is involved in the exportation of the nation’s crude which is being carried on a Free on Board (FOB) basis by foreign flagged vessels. The Secretary General of the association, Mr. Tunji Brown, said this had become necessary following the persistent fall in global oil prices.
He said, “The current oil prices have discouraged importers from bringing in refined petroleum because the prices are unprofitable. And you know our services lie in the inward movement of refined products into the country via the coast. “Due to the low patronage we are getting, we plan to be involved in the exportation of crude oil. We have started discussing with the government on this. Even if it is only one million barrels of crude that will be exported, we want to be involved.”
In a similar vein, the Coordinator, Government Relations, Shipowners Association of Nigeria, Mr. Temi Omatseye, also called on the government to use Nigerian flagged vessels for the exportation of crude. He lamented the continued use of foreign flagged vessels to export crude oil, thereby leading to loss of foreign exchange.
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