SCAN Summit to Tackle Financing, Regulatory Bottlenecks for Indigenous Shipowners

The Shipping Correspondents Association of Nigeria (SCAN) has commenced preparations for its 2026 Summit, set to tackle the financing and regulatory impediments faced by indigenous shipowners in Nigeria's maritime industry. Scheduled for October 29th, 2026, at the esteemed Rockview Hotels in Apapa, Lagos, the summit will bear the theme "Low-Risk Capital for Indigenous Shipowners: Overcoming Regulatory, Financial Bottlenecks."

This event aims to identify practical solutions to secure adequate funding and foster an environment that encourages Nigerian-owned vessels to engage more extensively in domestic and international waters.

According to SCAN President Moses Ebosele, Nigeria possesses significant maritime potential, yet foreign entities have maintained their dominance, controlling over 95% of the transportation of Nigerian imports, exports, and related freight revenues. In contrast, local participation remains alarmingly low, with indigenous ship owners commanding only 4% to 5% of the market.

Ebosele attributes this disparity to substantial funding gaps, elevated interest rates, and regulatory obstacles encountered by local fleet operators. The 2026 SCAN Summit is anticipated to convene prominent decision-makers and regulatory authorities to address these critical issues.