THE Shipping Correspondents Association of Nigeria (SCAN) has begun arrangements for its forthcoming 2026 Summit to address the persistent financial challenges and regulatory hurdles confronting indigenous shipowners in the maritime sector.

The gathering will take place on October 29, at the prestigious Rockview Hotels, Apapa, Lagos.

Centered around the theme “Low-Risk Capital For Indigenous Shipowners: Overcoming Regulatory, Financial Bottlenecks”, the summit aims to chart actionable pathways for unlocking adequate funding and creating an enabling environment that increases the participation and capacity of Nigerian-owned vessels in the domestic and international waters.

SCAN president, Moses Ebosele, said despite Nigeria’s rich maritime potential, foreign operators have continued to dominate the nation’s maritime domain controlling over 95 percent of the carriage of Nigerian imports, exports, and associated freight earnings, while the local participation remains critically low, with indigenous ship owners capturing only about four percent to five percent of the market.

Noting that this was largely due to systemic funding gaps, high interest rates, and regulatory bottlenecks faced by local fleet operators, Ebosele said the 2026 summit is expected to bring together key decision-makers, regulatory bodies, maritime experts, and primary lending institutions to forge sustainable solutions and bridge the financing gap for local shipowners.

Renowned legal practitioner, Dr Olisa Agbakoba will deliver the keynote address, while the event will be chaired by a former Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Dr Temisan Omatseye.

Other guests expected to grace the event are: Managing Director, Nigerian Ports Authority (NPA), Dr Abubakar Dantsoho, Director-General, Nigerian Maritime Administration and Safety Agency (NIMASA), Dr Dayo Mobereola, and the Executive Secretary/CEO, Nigerian Shippers’ Council, Dr Pius Akutah, among other key industry regulators and policymakers who are billed to grace the event.

Through structured panel discussions and strategic dialogues, the summit aims to deliver practical recommendations that will enhance local vessel ownership, boost national fleet capacity, and bolster Nigeria’s blue economy.