By Ajibola Adedoye
The Association of Maritime Journalists of Nigeria (AMJON) has charged stakeholders in the maritime sector to urgently address the pressing financing gaps hampering the growth of Nigeria’s maritime sector and the broader blue economy.
This was the fulcrum of the discourse during the 2024 Maritime Finance Conference organized in Lagos with the theme: “Vessel Acquisition/Construction: Nigeria’s Banks, Insurance Firms, Government and the Blue Economy.”
In his remarks, Mr Paul Ogbuokiri, President of AMJON, said “this widening financing gap has hindered the development of Nigeria’s blue economy, so there is need to urgently bridge the gap”.
Also Read
Ogbuokiri however underscored the AMJON’s commitment to nation-building through informed reporting and advocacy.
In his speech, Mr Abdulkadir Ahmed, MD/CEO NLNG Shipping and Marine Services Limited (NSML) commended AMJON for carefully chosen the topic which is aimed at bringing the regulators, the investor and the financiers and insurers on one table to find solution to this challenge which is retarding the growth of the Nigerian maritime industry.
According to him, “With the coming of the Ministry of Marine and Blue Economy, and specifically noting that the Nigerian Government is looking to diversify the economy to boost revenue and putting an end to the country’s status; the time all hands must be the deck to develop the Nigerian maritime industry is now”.
In his submission, Dr. Dayo Mobereola, Director General, Nigerian Maritime Administration and Safety Agency (NIMASA) noted that “Shipping is one of the greatest energizers of the economy globally. If any digital company has laid the foundation for growth and development in Nigeria, shipping should be at the forefront.”
Mobereola, who was represented by the Director of Administration and Human Resources, Mr. Isichei Osamgbi also assured stakeholders of NIMASA’s dedication to its mission, emphasising that the agency is committed to fleet expansion and other initiatives aimed at improving safety and security in Nigeria’s maritime domain.
He also advocated for concerted effort of all maritime media in ensuring that they play a proactive role in changing the narrative of Nigeria’s maritime industry.
In his submission, Pius Akutah, the Executive Secretary of the Nigerian Shippers’ Council noted that “Nigeria is endowed with vast maritime resources, including inland and archipelagic waters, a territorial sea of 12 nautical miles, and an Exclusive Economic Zone extending up to 200 nautical miles. To maximize these resources, we must focus on ship repairs, vessel building, acquisition, and financing, all of which hold the potential to create significant job opportunities and drive socio-economic development.”
Akutah, represented by Mr. Temitope Badmus also commended the Federal Government for its commitment to global best practices by establishing the Federal Ministry of Marine and Blue Economy, which is expected to spearhead policy initiatives aimed at unlocking the sector’s full potential.
He however urged all stakeholders to prioritise research and development (R&D) and to foster public-private partnerships that would support the Shipping Sector Support Fund, including the Cabotage Vessel Financing Fund (CVFF) and the Nigerian Content Development and Monitoring Board (NCDMB) Maritime Fund.
In his submission, Bashir Adewale Adeniyi, the Comptroller General of Customs called on Nigeria’s to focus on local vessel production instead of waiting for the foreign bigger vessels which are not available at the moment.
CG Customs represented by
Comptroller Dera Nnadi, Customs Area Controller of TinCan Island Port said the vessel construction needed to be given necessary supports in the country.
According to him, “Customs introduced barge operations to ease movement of cargoes in a little way which later because a large investment in the maritime industry.
“In order to support and sustain such move such low hanging fruit as construction of smaller and local vessels need to be encouraged especially now that the president has given the needed support.
“We should look inwards particularly at this time we are experiencing scares resources, Mr. President is encouraging us to look inwards and encourage home grown technology to move forward.
The event, which was co-hosted by NLNG Shipping and Marine Services Limited (NSML), drew industry leaders, government officials, and financial experts together.
For your Press Conferences/ Adverts/Media Consultancy/Support
Contact the Editor via WhatsApp +2349097600508/+2348032339384 or Email: news@dailyinsight.com.ng & shinaayo110@gmail.com