Nigeria plans to terminate foreign shipping waivers, according to the Minister of Transportation. This decision aims to promote local shipping companies and enhance the nation’s maritime industry.

The minister emphasized that ending these waivers will encourage domestic participation in shipping and logistics, ultimately boosting the economy. The move is part of a broader strategy to ensure that Nigeria benefits more from its shipping activities.

Stakeholders in the maritime sector have expressed mixed reactions, with some supporting the initiative for its potential to strengthen local businesses, while others worry about the immediate impact on international trade.

As the government moves forward with this policy, it aims to create a more competitive environment for Nigerian shipping companies and foster economic growth.