A former Nigerian Chapter President of the African Shipowners Association, Captain Ladi Olubowale, has called for greater investment in Nigeria's maritime sector, saying the country still relies heavily on foreign-owned fleets despite being Africa's largest oil and gas producer.

Olubowale said a significant share of revenue from logistics, charter hire, marine services, technical management and offshore transportation leaves the country because essential maritime support services are largely handled by foreign operators. He described the situation as unsustainable for Nigeria's economy.

He urged the Federal Government to use the UTM Floating Liquefied Natural Gas (FLNG) Project as a catalyst for Nigeria's maritime industrial transformation, stressing that building local maritime capacity is crucial to maximising the country's oil and gas resources.