A STUDY ON SHIP FINANCING IN NIGERIA
ABSTRACT
The primary goal of this research is to look into the ship financing structure in the middle of the expedition in Nigeria. Nigerian companies face far greater challenges than others, and their inability to raise capital is far more historic.
The goal of this research is to accomplish the following goals:
1. To understand the concerns of the shipping industry’s players, as well as the financial and relevant issues for both parties.
2. To gain access to the maritime and financial companies’ restrictions, requirements, and expectations in order to facilitate a mutually beneficial relationship between the two.
3. developing an action plan based on the study’s findings to bridge the gap between shipping companies and financiers.
Primary and secondary research methods were used in this study.
Primary research was conducted through personal contact with managers and executives, as well as representatives from the following industries: shipping companies, commercial banks, and so on. N.I.M.A.S.A
Finally, it is hoped that the study’s findings can be used as a guide to take appropriate measures to address the dilemmas, concerns, and problems that shipping companies face in obtaining competitive financing rates from local banks.
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