The Federal Government has been urged to direct the Nigerian Maritime Administration and Safety Agency (NIMASA) to utilise the 3 per cent freight levy collected from international inbound and outbound cargo to establish a revolving loan scheme for indigenous maritime transport operators and licensed customs agents.
The proposal is aimed at improving access to affordable financing for local operators, strengthening Nigeria’s maritime industry, and enhancing the competitiveness of indigenous businesses within the nation’s shipping and logistics sector.
Furthermore, stakeholders believe that redirecting part of the levy towards industry financing would accelerate the growth of local enterprises while promoting sustainable development across the maritime value chain.
Supporting Indigenous Maritime Operators
Industry stakeholders argued that many indigenous maritime transport companies continue to face significant financial challenges.
Furthermore, limited access to affordable credit has restricted investment in vessels, equipment, logistics infrastructure, and operational expansion.
A revolving loan programme funded through the freight levy could provide much-needed financial support for local businesses seeking to expand their operations.
Access to finance drives business growth.
Assisting Licensed Customs Agents
The proposed intervention would also benefit licensed customs agents who play an essential role in facilitating international trade.
Furthermore, improved financing would enable customs agents to invest in technology, staff development, operational capacity, and modern logistics systems capable of improving service delivery.
Financial support strengthens trade facilitation.
Maximising the Freight Levy
Stakeholders maintained that the existing 3 per cent freight levy represents an important resource capable of supporting long-term development within Nigeria’s maritime sector.
Furthermore, deploying part of the funds through a structured revolving loan mechanism would ensure that the resources continue benefiting multiple operators over time while maintaining financial sustainability.
Responsible utilisation of industry resources promotes broader economic development.
Boosting Local Participation
The proposal aligns with ongoing efforts to increase indigenous participation in Nigeria’s maritime industry.
Furthermore, stronger local shipping companies and logistics providers would improve domestic capacity while reducing dependence on foreign operators in certain segments of maritime transportation.
Expanding indigenous participation supports economic diversification.
Driving Economic Growth
The maritime sector remains one of the key contributors to Nigeria’s economy through international trade, port activities, logistics, and transportation services.
Furthermore, improving access to finance for local operators would stimulate business expansion, encourage investment, increase cargo handling capacity, and create additional employment opportunities.
A stronger maritime industry contributes to national economic growth.
Encouraging Sustainable Financing
Stakeholders recommended that any loan programme established through the freight levy should operate as a revolving fund.
Furthermore, repayments from beneficiaries would replenish the facility, allowing additional maritime operators and customs agents to access financing in the future.
Such a model promotes long-term sustainability while maximising the impact of available resources.
Revolving funds encourage continuous industry support.
Strengthening Nigeria’s Maritime Competitiveness
Industry experts also noted that improved financing would enhance the competitiveness of Nigerian maritime businesses within regional and international markets.
Furthermore, stronger indigenous operators would contribute to more efficient logistics services, improved cargo movement, increased investment, and greater participation in international shipping activities.
Competitive industries attract further investment.
Call for Government Action
The appeal to the Federal Government reflects growing calls for targeted interventions that support indigenous maritime enterprises through innovative financing mechanisms.
Furthermore, directing NIMASA to utilise part of the freight levy for revolving loans could strengthen local shipping companies, empower licensed customs agents, expand investment, create employment opportunities, improve trade facilitation, and accelerate the long-term development of Nigeria’s maritime sector while supporting broader economic growth.
