THE NATION
Nigeria lost over $50 billion to foreign ship owners between 2018 and 2022, sources at the Federal Ministry of Budget and Planning told The Nation at the weekend.
Between 2015 and 2017, it was gathered, the country lost about $25 billion to foreign ship owners, while it lost additional $25 billion between 2018 and last year.
A senior official said over $20 billion was paid as freight for dry and wet cargoes to foreign ship owners in 2018 and 2019 due to the absence of Nigerian-owned fleet plying the international route.
The official said the trend had been recurring over the years, adding that in 2010, over $9 billion was estimated as opportunity loss.
According to him, about $9.60 billion was freight opportunity loss from import and export of dry and wet cargoes in 2020…
