SOAN vows to maximise maritime potential for economic expansion

THE newly elected President of the Ship Owners Association of Nigeria ( SOAN), Sonny Eja, has pledged to focus on ship acquisition, access to cargoes and optimisation of shipping potentials, in line with the federal government’s initiative to prioritise the maritime sector over oil.

During his acceptance speech at the inauguration of SOAN’S newly elected executives in Lagos, Eja expressed his commitment to realising the full potential of the marine and blue economy, which is estimated to be worth between $ 296 billion and $ 300 billion and could create up to 50 million jobs, with expectations for growth each year.

Eja reiterated his commitment to enhancing policy advocacy, improving stakeholder relations, and leveraging the blue economy for significant economic growth, ensuring a more inclusive role for all indigenous shipowners. He said harnessing the blue economy could be a game changer for this nation, emphasising that shipowners must be central to this economic drive.

Eja highlighted the potential benefits of a well- optimised marine and blue economy, including job creation, food security, renewable energy resources, balanced foreign trade, and stable foreign exchange rates.

Eja also underscored the importance of collaborative efforts and shared his plans to engage in constructive dialogue with various government agencies and industry stakeholders to foster a robust shipping industry and support indigenous shipowners.

Hd promised a transparent and accountable administration, sustainable growth, and enhanced collective success.

The President of the Chartered Institute of Logistics and Transport ( CILT) in Nigeria, Mfon Usoro, expressed dissatisfaction that the Cabotage Vessel Financing Fund ( CVFF) has not yet benefited the intended recipients.

Usoro condemned attempts to include non- contributors among the beneficiaries and urged shipowners to revisit the issue to ensure the initiative’s true intent is honored.