WorldStage Newsonline-- The Indigenous Ship owners Association of Nigeria (ISAN) has said that the Nigerian maritime industry is losing N2 trillion to capital flight annually.

Its Chairman, Dr Isaac Jolapamo who dropped the hint at the association’s Extraordinary General Meeting (EGM) in Lagos, explained that the industry had the capacity to provide 5 million jobs for Nigerian youths.

He noted that the about 150 million tones of cargo were being moved per annum in the sector, with little participation by the local ship owners, lamenting that the industry had been floundering for a long time.

He declared: “It is disheartening to note that Nigeria has failed to take advantage of the vast potentials in the industry to get our youths employed. Nobody can solve our problems better than ourselves.”

The chairman stressed that India , Indonesia and Malaysia had used the maritime industry to improve their economies, adding that no nation that neglected its maritime sector ever develop.

Jolapamo therefore urged the members of the association to focus on how to create jobs for the youths.

Echoing him, the Director General, Nigerian Maritime Administration and Safety Agency, Patrick Akpobolokemi who was represented by Honourable Ibrahim Zelani, executive director explained that a strong united ISAN would move the industry forward for the benefit of everybody in the country.

He added that Nigerian Maritime Administration and Safety Agency would support the association to grow the sector.

He said: “We are interested in what is happening in ISAN. We would monitor your activities and support you. Without ISAN there cannot be NIMASA.”