President, Bunker Traders Association of Nigeria, Sola Adewumi, states Nigeria may lose out on global bunkering industry estimated to reach 210 billion dollars by 2027 if foreigners keep dominating sector.
Written by News Room on May 25, 2022
The president of Bunker Traders Association of Nigeria, Sola Adewumi, has stated that Nigeria may lose out on the global bunkering industry estimated to reach 210 billion dollars by 2027 if foreigners keep dominating the sector.
Mr. Adewumi stated this, on Tuesday, during the Nigerian Content Midstream-Downstream Oil and Gas summit.
According to him, most of the bunkering activities are being carried out by foreigners because the funds dedicated for the purchase of equipment such as; ship acquisition funds are not readily available.
He said Nigeria has a bad reputation as far as the bunkering business is concerned; adding that there are many unprofessional activities mostly centered on the quality of bunker delivery, which he said is rampant.
The president of the Traders Association of Nigeria also lamented the regulatory activities by Nigerian Maritime Administration and Safety Agency (NIMASA), Nigerian Ports Authority (NPA), Nigerian Navy, saying that sometimes their activities have negative effects on bunkering operations in Nigeria.