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Investor Presentaiton

The Establishment And Demise of Nigerian National Shipping Line (NNSL) 8 The Nigerian National Shipping Line (NNSL) was established by the Nigerian government in 1957 at first 33% of the capital was from Elder Dempster line and 16% by palm line, both British companies while Nigerian government held 51%. In 1961, the Nigerian government acquired all the shares. The NNSL started operations in 1959 with 3 vessels. Nigerian seamen Who were employed by British Shipping Companies in the colonial era Moved to work for the NNSL and by 1964 had grown to 16 vessels. In 1977 the Nigerian government ordered the construction of 19 new vessels and by 1979 NNSL had 24 oceangoing ships. It became an important source of training for seamen of the Nigerian Merchant Navy.
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