Shipowners and their representatives are allowed by law to limit liability for damage caused by their ship. One of the reasons advanced for this doctrine is that going to sea is a risky adventure and those who dare engage in it should be encouraged. This doctrine does not have a general application to every business endeavour even if the level of risk exposure is similar to that of going to sea. This Article reviews the legal framework for the application of this doctrine in Nigeria and compares it with that of the aviation subsector. The laws discussed, including the conventions, are: sections 351 and 352 of the Merchant Shipping Act 2007, the Warsaw Convention 1999; the Montreal Convention 1999 and the Civil Aviation Act 2006. It concludes by stating that the Merchant Shipping Act 2007 which gives a shipowner an advantage over and above an airline operator who is faced with similar risk exposure in terms of doing business, is discriminatory. It recommends for an overall consistency across all the parts of transport sector.