• About Us
  • Advertise With Us
  • Contact Us
  • Donate
Saturday, July 12, 2025
Daily Intel Newspapers
  • Login
  • Welcome
  • Special reports
    • All
    • Unedited for the record
    Group alleges corruption, nepotism, others, calls for immediate sack of NMDPRA Boss

    Group alleges corruption, nepotism, others, calls for immediate sack of NMDPRA Boss

    SNAPSHOTS OF ACHIEVEMENTS

    Ohanaeze renews clamour for IPOB leader, Nnamdi Kanu’s release

    IPOB calls for review, says Kanya court ruling confirms Kanu’s trial lack legal foundation

    State police only solution to Benue killings, others- Adams

    State police only solution to Benue killings, others- Adams

    Ohanaeze renews clamour for IPOB leader, Nnamdi Kanu’s release

    Ohanaeze renews clamour for IPOB leader, Nnamdi Kanu’s release

    Experts hail new HIV injection breakthrough ,decry high cost

    Experts hail new HIV injection breakthrough ,decry high cost

  • Metro News
    Lagos Assembly move to enact law to regulate house rents, agents, others

    Lagos Assembly move to enact law to regulate house rents, agents, others

    Teachers, health workers strike,others:  Wike gets fresh ultimatum from FCT workers

    Wike launch operation to flush street beggars, one- chance syndicate, others in FCT

    Teachers, health workers strike,others:  Wike gets fresh ultimatum from FCT workers

    Teachers, health workers strike,others: Wike gets fresh ultimatum from FCT workers

    Abuja braces for two-week without water as rehabilitation works commence

    Abuja braces for two-week without water as rehabilitation works commence

    Ground rent: FCTA to take ownership of 4,794 revoked properties from Monday

    Ground rent: FCTA to take ownership of 4,794 revoked properties from Monday

    Apo-Wassa road ready for inauguration on Tinubu’s second anniversary-Wike

    Apo-Wassa road ready for inauguration on Tinubu’s second anniversary-Wike

  • Latest News
    • All
    • Crime watch
    Anambra guber: Obi presents Moghalu as LP candidate, reaffirms he will contest the 2027 presidency

    Anambra guber: Obi presents Moghalu as LP candidate, reaffirms he will contest the 2027 presidency

    Civil servants’ June salary delay being resolved – Accountant-General’s office

    Civil servants’ June salary delay being resolved – Accountant-General’s office

    NELFUND begins disbursement of students upkeep

    NELFUND begins disbursement of students upkeep

    Lagos Assembly move to enact law to regulate house rents, agents, others

    Lagos Assembly move to enact law to regulate house rents, agents, others

    BREAKING: Supreme Court upholds Okpebholo’s election as Edo Governor

    BREAKING: Supreme Court upholds Okpebholo’s election as Edo Governor

    Naira depreciates at the parallel market

    Naira depreciates at the parallel market

    Trending Tags

  • Infotech
    Senate approves restoration of Aniocha North II State Constituency, Delta

    Bill mandating social media platforms to have physical office, records of employees pass second reading at the Senate

    Nigeria investigated  213 privacy breaches in 2024-NDPC

    Nigeria investigated 213 privacy breaches in 2024-NDPC

    FG begins construction of emerging technologies Institute in Kano

    FG begins construction of emerging technologies Institute in Kano

    MTN denies orchestrating poor network to influence FG, labour talk, apologizes for network fluctuations

    MTN shuns Labour-FG committee on tariff review, hike data tariff by 200%

    Disconnections not to frustrate ₦EndBadGovernance Protest-Telcos

    FG receives recommendation on telecoms tarrif hike

    Peter Obi donates computers to Adamawa school, canvasses increased knowledge in ICT

    Peter Obi donates computers to Adamawa school, canvasses increased knowledge in ICT

  • World conflict & diplomacy
    UK prime minister back US military strikes on Iran ‘s nuclear sites

    UK prime minister back US military strikes on Iran ‘s nuclear sites

    Israel bombs Iran’s heavy water reactor, says state television

    Israel bombs Iran’s heavy water reactor, says state television

    Iran slams G7 statement for ignoring Israel’s blatant aggression

    Iran slams G7 statement for ignoring Israel’s blatant aggression

    Iran launch over 100 drones towards Israel as conflict escalates

    Iran launch over 100 drones towards Israel as conflict escalates

    Six nuclear scientists killed in Israel attack on Iran — Reports

    Six nuclear scientists killed in Israel attack on Iran — Reports

    UK backs Morocco’s autonomy plan for Western Sahara

    UK backs Morocco’s autonomy plan for Western Sahara

  • Security
    Nwifuru demands arrest of killers of 13 Ebonyi indigenes in Anambra

    Nwifuru demands arrest of killers of 13 Ebonyi indigenes in Anambra

    State police only solution to Benue killings, others- Adams

    State police only solution to Benue killings, others- Adams

    Female suicide bomber kills 24, injure  scores in Borno community

    Female suicide bomber kills 24, injure scores in Borno community

    Obi calls for immediate end to violence against Benue communities

    Obi calls for immediate end to violence against Benue communities

    Police extend deadline for tinted glass permit to August 12

    Police extend deadline for tinted glass permit to August 12

    Tinubu govt assures farmers of security support against bandits, killer herdsmen

    Tinubu govt assures farmers of security support against bandits, killer herdsmen

No Result
View All Result
  • Welcome
  • Special reports
    • All
    • Unedited for the record
    Group alleges corruption, nepotism, others, calls for immediate sack of NMDPRA Boss

    Group alleges corruption, nepotism, others, calls for immediate sack of NMDPRA Boss

    SNAPSHOTS OF ACHIEVEMENTS

    Ohanaeze renews clamour for IPOB leader, Nnamdi Kanu’s release

    IPOB calls for review, says Kanya court ruling confirms Kanu’s trial lack legal foundation

    State police only solution to Benue killings, others- Adams

    State police only solution to Benue killings, others- Adams

    Ohanaeze renews clamour for IPOB leader, Nnamdi Kanu’s release

    Ohanaeze renews clamour for IPOB leader, Nnamdi Kanu’s release

    Experts hail new HIV injection breakthrough ,decry high cost

    Experts hail new HIV injection breakthrough ,decry high cost

  • Metro News
    Lagos Assembly move to enact law to regulate house rents, agents, others

    Lagos Assembly move to enact law to regulate house rents, agents, others

    Teachers, health workers strike,others:  Wike gets fresh ultimatum from FCT workers

    Wike launch operation to flush street beggars, one- chance syndicate, others in FCT

    Teachers, health workers strike,others:  Wike gets fresh ultimatum from FCT workers

    Teachers, health workers strike,others: Wike gets fresh ultimatum from FCT workers

    Abuja braces for two-week without water as rehabilitation works commence

    Abuja braces for two-week without water as rehabilitation works commence

    Ground rent: FCTA to take ownership of 4,794 revoked properties from Monday

    Ground rent: FCTA to take ownership of 4,794 revoked properties from Monday

    Apo-Wassa road ready for inauguration on Tinubu’s second anniversary-Wike

    Apo-Wassa road ready for inauguration on Tinubu’s second anniversary-Wike

  • Latest News
    • All
    • Crime watch
    Anambra guber: Obi presents Moghalu as LP candidate, reaffirms he will contest the 2027 presidency

    Anambra guber: Obi presents Moghalu as LP candidate, reaffirms he will contest the 2027 presidency

    Civil servants’ June salary delay being resolved – Accountant-General’s office

    Civil servants’ June salary delay being resolved – Accountant-General’s office

    NELFUND begins disbursement of students upkeep

    NELFUND begins disbursement of students upkeep

    Lagos Assembly move to enact law to regulate house rents, agents, others

    Lagos Assembly move to enact law to regulate house rents, agents, others

    BREAKING: Supreme Court upholds Okpebholo’s election as Edo Governor

    BREAKING: Supreme Court upholds Okpebholo’s election as Edo Governor

    Naira depreciates at the parallel market

    Naira depreciates at the parallel market

    Trending Tags

  • Infotech
    Senate approves restoration of Aniocha North II State Constituency, Delta

    Bill mandating social media platforms to have physical office, records of employees pass second reading at the Senate

    Nigeria investigated  213 privacy breaches in 2024-NDPC

    Nigeria investigated 213 privacy breaches in 2024-NDPC

    FG begins construction of emerging technologies Institute in Kano

    FG begins construction of emerging technologies Institute in Kano

    MTN denies orchestrating poor network to influence FG, labour talk, apologizes for network fluctuations

    MTN shuns Labour-FG committee on tariff review, hike data tariff by 200%

    Disconnections not to frustrate ₦EndBadGovernance Protest-Telcos

    FG receives recommendation on telecoms tarrif hike

    Peter Obi donates computers to Adamawa school, canvasses increased knowledge in ICT

    Peter Obi donates computers to Adamawa school, canvasses increased knowledge in ICT

  • World conflict & diplomacy
    UK prime minister back US military strikes on Iran ‘s nuclear sites

    UK prime minister back US military strikes on Iran ‘s nuclear sites

    Israel bombs Iran’s heavy water reactor, says state television

    Israel bombs Iran’s heavy water reactor, says state television

    Iran slams G7 statement for ignoring Israel’s blatant aggression

    Iran slams G7 statement for ignoring Israel’s blatant aggression

    Iran launch over 100 drones towards Israel as conflict escalates

    Iran launch over 100 drones towards Israel as conflict escalates

    Six nuclear scientists killed in Israel attack on Iran — Reports

    Six nuclear scientists killed in Israel attack on Iran — Reports

    UK backs Morocco’s autonomy plan for Western Sahara

    UK backs Morocco’s autonomy plan for Western Sahara

  • Security
    Nwifuru demands arrest of killers of 13 Ebonyi indigenes in Anambra

    Nwifuru demands arrest of killers of 13 Ebonyi indigenes in Anambra

    State police only solution to Benue killings, others- Adams

    State police only solution to Benue killings, others- Adams

    Female suicide bomber kills 24, injure  scores in Borno community

    Female suicide bomber kills 24, injure scores in Borno community

    Obi calls for immediate end to violence against Benue communities

    Obi calls for immediate end to violence against Benue communities

    Police extend deadline for tinted glass permit to August 12

    Police extend deadline for tinted glass permit to August 12

    Tinubu govt assures farmers of security support against bandits, killer herdsmen

    Tinubu govt assures farmers of security support against bandits, killer herdsmen

No Result
View All Result
Daily Intel Newspapers
No Result
View All Result
Support Us Support Us Support Us
Home Special reports

How high cost of operations is forcing Trawler owners to abandon Nigeria

Daily Intel Newspaper by Daily Intel Newspaper
June 13, 2024
How high cost of operations is forcing Trawler owners to abandon Nigeria

#image_title

Share on FacebookShare on TwitterChat With Us Live

Indigenous trawler owners are joining the list of companies exiting the Nigeria’s shore over high cost of operations.

It was gathered that most of those leaving Nigeria waters are headed to neighbouring countries such as Gabon, Republic of Benin, Cameroon among others.

They cited high cost of purchasing Automotive Gas Oil ,AGO, for their vessel which has risen from N30 million to N140 million monthly.

Fishing trawler is a commercial fishing vessel designed to operate fishing trawls. Trawls are fishing nets that are pulled along the bottom of the sea or in midwater at a specified depth to fetch fish.

LEADERSHIP reports that most trawlers are currently rotting away as over 40 percent are currently grounded, thereby, reducing indigenous capacity in the sector.

The Chief Executive Officer, N&N Marine Services Limited Company, Engr. Emma Nnyamah, confirmed that some trawler owners have started abandoning Nigeria for Benin Republic, Cameroon and Gabon due to high energy cost, cost of spare parts and naira devaluation.

According to him, trawlers remaining in Nigeria are currently docked at different terminals idling away due to high cost of operation.

He argued that aside from diesel cost, they should be given a waiver on importation of spare parts for their trawlers into the country.

“If we go to these countries, they have a Bureau for better business, in Nigeria we don’t have that and when they fish there they earn in CFA and when they come back here, the money has more value than the naira.

“So, majorly, because of the exchange rate, that’s why those people go to other countries. Not because they have a better quality shore, our prawns and shrimps are of better quality in Nigeria,”

“Currently, trawlers in the country are at dock, because of the high cost of diesel oil and Spare parts. Diesel in the sense that the price moved from N500 to N1,200 per litre, thereby, making it practically impossible for people to continue the business. For instance, you need at least 100,000litres to have a successful 45 day trip. And with that amount of diesel litres, a trawler owner needs N130 million on diesel alone.

“Spare parts, payment of the crew, feeding and lots more. Another instance is that the major maintenance to dry docking of vessels after 16 to 18 months has gone up from N4 million to between N10 million to N13 million.

“The type of increase in the industry is frightening and the cost of these vessels is now between $1.5 million to $2 million so if you do not plan well you will run at a super loss. So, the best thing for most operators is to plan for the next move and currently, some owners are beginning to go to Benin republic, Cameroon and Gabon. These are the three countries trawler owners are willing to go to.”

Engr. Nnyamah, however, called for a subsidy from the government on diesel in order to alleviate the high cost that has depleted the industry.

“If we are able to have some form of subsidy on diesel like we used to have during the administration of ex-president Olusegun Obasanjo, there would be relief. From export alone, we would make huge foreign exchange from our export. We would recover ,once we have diesel that would enable the number of fishing vessels we have today Nigeria to go to sea and fish properly,we would return back to the quantity of export Nigeria had and from there, we would generate enough foreign exchange.

Also speaking, the president Nigerian Trawler Owners Association ,NITOA, Mrs Ben Okonkwo, said having subsidised AGO would save the sector from collapse.

Okonkwo, however, confirmed that the hike in the cost of diesel has increased the cost of voyage from N30 million to N140 million.

She lamented that trawler owners may be forced to downsize as 40 percent of fishing vessels are now down and no longer operating.

“Due to the high cost of AGO, over 40 percent of our vessels are down, and when we have vessels down, there is an extent we go in paying our staff, it would get to a stage that if they are not productive, we would have to disengage them.

“But, if we can get some logistics arrangements from NNPC and Dangote, it would go a long way,” she stated.

Okonkwo also sought for her members, duty waivers on importation of fishing vessels and fishing gears which according to her, are not being manufactured up to standard in Nigeria.

The operators also demanded for tax waivers, which according to her was in existence before in the form of export expansion grants, but stopped in 2017.

“These grants were designed by the government to cushion the effect of some of the challenges we are having now. If it can come back more regular and transparent, it would go a long way.

“We need dedicated port facilities, especially for new investors. We cannot continue to have our facilities in a place where you are not sure of tomorrow. Presently, we are not having long leases, we have short ones, what that means is that they can ask us to leave at any time. With the level of investment on the ground, it would be difficult to move us just like that. They should consider the companies and the space they occupy and go across for new investment.

“On Cabotage, what we do, we are not supposed to be captured in the Cabotage Act, but currently we are there. Years ago, we got an administrative waiver, and we went to the House of Representatives to defend why we should not be in the Cabotage but till today we have not heard anything. Fishing trawlers should be expunged from the Cabotage regime because we don’t have any contracts. We do fishing, which is agriculture, putting us in Cabotage will do more harm than good.

“If we get support, we can go back to the status quo of 250 boats and 200,000 employment like we had in the past.

Share187Tweet117SendShare
Support Us Support Us Support Us
Daily Intel Newspaper

Daily Intel Newspaper

Next Post
Yahaya Bello: EFCC lawyers pick new date, say Thursday not convenient

Yahaya Bello: EFCC lawyers pick new date, say Thursday not convenient

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recent Posts

  • Anambra guber: Obi presents Moghalu as LP candidate, reaffirms he will contest the 2027 presidency
  • Civil servants’ June salary delay being resolved – Accountant-General’s office
  • NELFUND begins disbursement of students upkeep
  • Lagos Assembly move to enact law to regulate house rents, agents, others
  • A father’s dream, a son’s journey: mission accomplished | By Osita Chidoka

Recent Comments

  1. Daily Intel Newspaper on BREAKING: Gunmen Kidnap 23 in Nigeria’s Capital
  2. Carol Goodrich on BREAKING: Gunmen Kidnap 23 in Nigeria’s Capital

STAY CONNECTED

Follow Us

Categories

  • Aviation
  • Business
  • Citizen reporter
  • Corruption
  • Crime watch
  • Culture
  • Document
  • Education
  • Entertainment
  • Exclusive
  • Featured
  • Finance & economy
  • Foreign News
  • Health
  • Human rights & the people
  • Infotech
  • Interviews
  • Investigation
  • Judiciary
  • Latest News
  • Maritime
  • Metro News
  • News
  • Oil & gas
  • Opinion
  • Politics
  • Promoted
  • Science & Technology
  • Security
  • Special reports
  • Special updates
  • Sports
  • Unedited for the record
  • World conflict & diplomacy

Recent News

Anambra guber: Obi presents Moghalu as LP candidate, reaffirms he will contest the 2027 presidency

Anambra guber: Obi presents Moghalu as LP candidate, reaffirms he will contest the 2027 presidency

July 11, 2025
Civil servants’ June salary delay being resolved – Accountant-General’s office

Civil servants’ June salary delay being resolved – Accountant-General’s office

July 11, 2025
  • About Us
  • Advertise With Us
  • Contact Us
  • Donate

© 2025 All Rights Reserved Daily Intel Newspapers

No Result
View All Result
  • Home
  • Special reports
  • Special updates
  • World conflict & diplomacy
  • Infotech
  • Metro News
  • Latest News
    • Human rights & the people
    • Unedited for the record
    • Judiciary
  • Finance & economy
  • Exclusive
  • Security
  • Document
  • Education
  • Entertainment
  • Infotech
  • Investigation
  • Science & Technology
  • Aviation
  • Sports
  • Business
  • Culture
  • Finance & economy
  • Foreign News
  • Health
  • Corruption
  • Promoted
  • Crime watch

© 2025 All Rights Reserved Daily Intel Newspapers

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In