ABSTRACT
The study’s main goal is to look into the ship finance system in the Nigerian portion of the voyage. Nigerian businesses confront significantly more serious issues than others, and their failure to acquire finance is far more historic than others.
The goal of this research is to accomplish the following goals:
1. To learn about the problems of the shipping industry’s players, as well as the financial and other issues that both parties face.
2. To gain access to the marine and financial companies’ limits, requirements, and expectations in order to facilitate a mutually advantageous partnership between the two.
3. developing an action plan to bridge the gap between shipping businesses and financiers based on the study’s findings.
Primary and secondary research methodologies were used in this study. Personal communication with managers and executives, as well as representatives from the following sectors: shipping businesses, commercial banks, and so on, was used to conduct primary research. N.I.M.A.S.A
Finally, it is intended that the study’s findings would serve as a guide for taking suitable actions to address the dilemmas, worries, and problems that shipping companies have in obtaining competitive financing rates from local banks.
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