Nigeria: '90 Percent of Earnings in Shipping Goes to Foreign Firms'

20 July 2012

Not less than 90 per cent of earnings in the shipping sector of the economy go to foreign ship owners, the Executive Vice Chairman and Chief Executive Officer, Sifax Group, Dr. Taiwo Afolabi, has asserted.

He attributed the low involvement of indigenous operators to their lack of capacity to compete with their foreign counterparts.

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