170 results found

Nigeria's maritime sector is crucial to Nigeria's economic wealth, yet it faces a pressing challenge; the need to protect its extensive and strategically important coastal resources. The absence of a dedicated coast guard.

When reinsurers withdrew charterers' liability cover for Persian Gulf operations in March 2026 on seventy-two hours' notice, the episode revealed a structural vulnerability in global marine insurance that extends far beyond the immediate crisis. For Nigeria, which lacks domestic marine insurance capacity at every layer of this architecture, the Gulf repricing demonstrates both the cost of dependency on foreign risk capital and an emerging opportunity to build institutional capability...

Nigeria's Cabotage Vessel Financing Fund (CVFF) is finally disbursing after 23 years, but eligibility alone does not guarantee approval. What separates successful applications from failed ones is whether the underlying business is genuinely bankable, with proper ownership structures, credible feasibility reports, and adequate security packages in place before approaching a Primary Lending Institution.

Judicial sale exists in every Jurisdiction globally. It is a forced sale conducted under the authority of a Court judgment or Court order1; this legal concept is applicable in almost every field of law.

Over the course of the past few years, the Federal Inland Revenue Service (FIRS) has been tenacious in its drive to encourage more companies to be tax-compliant, in the aim of achieving its objective...

Nigeria's Cabotage Vessel Financing Fund has finally been activated after two decades, offering approximately US$700 million to indigenous ship owners. However, accessing these funds requires navigating a complex legal framework involving corporate ownership verification, operational competence assessments, financial viability studies, and strict regulatory compliance that extends far beyond simple vessel acquisition plans.

Nigeria has huge opportunities in the transportation sector to generate revenue, create jobs, and facilitate movement for business and leisure.

The maritime industry is pivotal to the economic growth and development of a prosperous Nigeria, thus, it is imperative for Nigeria to expand the capacity of indigenous maritime...

To maximize the benefits of the Lekki Deep-Sea Port and sustain the advantages that it has heralded, there is a need to learn from the experiences of countries like China which have successfully...

The Nigeria Shipping Industry has achieved another milestone in its anti-piracy drive as the International Bargaining Forum (IBF) removes Nigeria from risk maritime nations, as announced...

The maritime industry is set to witness its fourth industrial revolution with the innovation of Smart shipping. Smart shipping involves adopting digitalized and innovative technological systems to develop remotely controlled or fully autonomous ships.

One of the amendments made by the Finance Act 2023 to the Companies Income Tax Act, Cap C.21, LFN 2004 (as amended) is the introduction of Section 14(6), which makes it mandatory for non-resident companies ...

It was recently reported that some international shipping companies engaged in Nigerian trade may be considering terminating their operations in the country, with the largest economy in Africa...

Arrest of ship means any the detention of ships by order of a Court to secure a maritime claim but does not include the seizure of a ship in execution or satisfaction of a judgment or other enforceable instrument.

Maritime debt recovery in Nigeria presents unique challenges as vessels can quickly leave territorial waters, making enforcement difficult. Nigeria's Admiralty Jurisdiction Act and Admiralty Jurisdiction Procedure Rules provide specialized legal frameworks for maritime creditors to pursue claims and arrest vessels, but successful recovery requires expert navigation of admiralty jurisdiction, procedural requirements, and strategic timing.

The Nigerian economy is a mixed economy and the maritime sector is a major sector of the Nigerian economy, taking into consideration that the country is a major oil-producing and exporting country.

Nigeria's maritime sector faces unprecedented financial pressures from rising interest rates, currency instability, and mounting loan defaults, fundamentally reshaping how ship mortgages are enforced. The introduction of the Admiralty Jurisdiction Procedure Rules 2023 has modernized enforcement mechanisms, expanding vessel arrest powers and facilitating judicial sales as strategic tools for preserving maritime assets. How are mortgagees navigating this convergence of economic volatility and procedural innov