Vested Interests Frustrated Probe into Collapsed NNSL, Jonathan Alleges

Former President Goodluck Jonathan has said that entrenched interests hindered a comprehensive investigation into the collapse of the defunct Nigerian National Shipping Line (NNSL) and its fleet of 27 vessels.

Speaking at the International Deep Seaport Investment Forum in Lagos on Monday, Jonathan described the failure of the national carrier as one of Nigeria’s lingering economic mysteries, noting that efforts to fully examine the circumstances behind its downfall were resisted during his administration.

He recalled engaging with key stakeholders, including a former chairman of the Nigerian Ports Authority (NPA), Bode George, stressing that no conclusive inquiry was ever carried out into the fate of the national shipping company.

According to him, preliminary insights suggested that Nigeria may have made costly strategic errors at a time when global shipping was undergoing significant transformation.

He explained that while the international maritime industry was transitioning toward containerised cargo handling and larger, deeper-draft vessels, Nigeria continued to invest in older ships that were already becoming obsolete globally.

Jonathan noted that such a mismatch between policy decisions and global trends likely weakened the competitiveness of the national carrier, contributing to its eventual collapse. The NNSL was liquidated in 1995 and its assets, including vessels, were sold off.

While acknowledging that the available accounts remain unverified, he said they point to deeper structural and policy shortcomings that deserve critical examination to prevent a repeat of past mistakes.

The former president cautioned that the lessons from the failed national shipping line remain relevant as Nigeria seeks to revamp its maritime sector amid evolving global standards.

He called for renewed evaluation of past decisions and urged that future investments in maritime infrastructure be aligned with international best practices, warning that failure to do so could leave Nigeria at a disadvantage in global trade and logistics, particularly as regional cargo continues to be transshipped through neighbouring countries.