{
  "id": 711957,
  "title": "Foreign operators corner 95% of Nigeria’s import, export earnings",
  "url": "https://urgent.news/2026/08/12/foreign-operators-corner-95-of-nigerias-import-export-earnings",
  "topic": "business",
  "section": "Business",
  "published": "2026-08-12T23:56:52.000Z",
  "source": {
    "name": "Punch Nigeria",
    "slug": "punch-nigeria",
    "url": "https://punchng.com/foreign-operators-corner-95-of-nigerias-import-export-earnings/"
  },
  "original_language": "en",
  "account": "The Shipping Correspondents Association of Nigeria (SCAN) has revealed that foreign operators dominate 95% of Nigeria's import and export earnings, despite the country's vast maritime potential. Local shipowners hold only 4-5% of the market share. At a statement on Monday, SCAN President Moses Ebosele announced that the association has started planning its 2026 Summit, which will tackle the financial challenges and regulatory obstacles hindering indigenous shipowners. The summit, scheduled for October in Lagos, will focus on the theme, 'Low-Risk Capital for Indigenous Shipowners: Overcoming Regulatory, Financial Bottlenecks'. Ebosele noted that the event would develop practical solutions to mobilize financing and create a conducive environment to boost the participation and capacity of Nigerian-owned vessels in domestic and international waters. The summit will feature a keynote address by Dr Olisa Agbakoba, a legal practitioner and Senior Advocate of Nigeria, and will be chaired by Dr Temisan Omatseye, the former Director-General of the Nigerian Maritime Administration and Safety Agency.",
  "summary": "Foreign operators control over 95% of Nigeria’s import/export earnings. Discover how the 2026 SCAN Summit aims to boost local participation in the Nigerian Read More: https://punchng.com/foreign-operators-corner-95-of-nigerias-import-export-earnings/",
  "key_points": [
    "Foreign operators control 95% of Nigeria's import/export earnings",
    "Local shipowners hold only 4-5% of the market share",
    "SCAN plans 2026 Summit to address financial challenges and regulatory obstacles"
  ],
  "editors_take": "The dominance of foreign operators in Nigeria's import and export earnings highlights the need for local shipowners to overcome financial and regulatory hurdles to tap into the country's maritime potential.",
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "Punch",
        "title": "Foreign operators corner 95% of Nigeria’s import, export earnings",
        "url": "https://urgent.news/2026/08/13/foreign-operators-corner-95-of-nigerias-import-export-earnings",
        "published": "2026-08-13T00:16:52.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}