Скачать или смотреть Nigeria Loses $100 Billion Annually Over Weak Cabotage Enforcement ┃ Ask Nigeria Breaking News!

Nigeria Loses $100 Billion Annually Over Weak Cabotage Enforcement ┃ Ask Nigeria Breaking News! View exclusively on social media, join us for accurate and up-to-date information on the current events shaping Nigeria. 📹🎤📰🇳🇬

Nigeria loses an estimated $100 billion annually due to poor enforcement of the Coastal and Inland Shipping (Cabotage) Act, 2003, which was meant to empower local maritime operators and retain revenue. The Sea Empowerment and Research Centre (SEREC) blamed NIMASA’s weak enforcement, abuse of waivers, political interference, and poor fund management for the sector’s failures. It said foreign vessels still dominate Nigeria’s coastal trade, leading to job losses and capital flight. SEREC urged reforms to close loopholes, strengthen penalties, improve inter-agency collaboration, and equip NIMASA with modern tools, stressing that political will is vital to reclaim maritime sovereignty.