In pursuance of the success of Nigeria on maritime reforms, Nigeria made a bold attempt to change the face of maritime business within its coasts when it enacted the Coastal and Inland Shipping (Cabotage) Act 2003, Though designed to restrict foreign participation in Nigeria’s domestic coastal trade, nevertheless a lot of opportunities exist for foreign involvement.

The objective of the Cabotage Act is primarily to reserve the commercial transportation of goods and services within Nigerian coastal and inland waters to vessels flying the Nigerian flag and owned by persons of Nigerian citizenship.

Functions:

Encouraging indigenous shipping lines to participate in Coastal and Inland
Trade Administering Cabotage Vessel Financing Fund (CVFF) Enlightening and sensitizing would-be investors in the Cabotage Trade through seminars, conferences, workshops etc
Maintaining a Registry of Vessels for Cabotage Trade Registering ships owned by indigenous shipping lines to participate in the Nation`s Cabotage trade.