Mkpoikana Udoma
Port Harcourt — The Marine Equipment Owners and Leasing Association of Nigeria, MEOLAN, has announced an increase in service charges, citing the worsening piracy crisis in Rivers State’s waterways and the rising cost of operations due to inflation.
To this end, the association has warned that without urgent government intervention, businesses, oil production, and maritime trade could be severely affected.
Briefing newsmen in Port Harcourt, MEOLAN President, Chief Hope Ikuku, expressed deep concerns over the increasing harassment, violent extortion, and hostage-taking that marine operators face, particularly in Onne (Eleme Local Government Area) and Okujagu (Port Harcourt).
Ikuku described the situation as a major threat to the economy and called for immediate government action.
“Piracy is no longer just an operational challenge; it is now a financial burden on businesses. We are losing money daily to criminal activities, and without stronger security, we have no choice but to adjust prices to stay afloat,” Ikuku said.
He emphasized that while MEOLAN complies with all regulations set by the National Inland Waterways Authority, NIWA, these efforts are futile without government intervention to secure the waterways, which should serve as safe routes for legitimate trade.
“We are calling on the Rivers State Government, the Inspector General of Police, and military commanders for assistance, as a shutdown of marine services could trigger a larger economic crisis, particularly affecting oil production,” he warned.
To cope with the financial strain caused by piracy and inflation, MEOLAN announced new minimum leasing rates, effective March 1, 2025, as double screw tugboat will now cost N500,000 and barges N400,000.
Ikuku explained that the marine equipment leasing business is capital-intensive, and the price hike is necessary to keep operations running. However, he assured customers that if economic conditions improve, the prices will be adjusted accordingly.
“We understand this will affect our customers, but these adjustments are necessary to keep operations running. If the government addresses piracy and inflation stabilizes, we will reconsider the pricing,” he stated.
MEOLAN raised concerns over the worsening security crisis, particularly in Onne and Okujagu, where operators face constant threats from pirates. The association stressed that these attacks disrupt vital commercial activities, including oil transportation and trade.
“The waterways should be safe for business, but they have become danger zones. We urge the Rivers State Government, the Inspector General of Police, and military commanders to act now before businesses collapse,” Ikuku said.
With Nigeria’s oil and gas sector relying heavily on safe maritime operations, stakeholders are now urging the government to take swift action to curb piracy.
MEOLAN warned that continued inaction could lead to a total shutdown of marine services, which would cripple oil production, disrupt trade, and deepen economic instability.
