NIMASA DG proffer solutions to move Maritime industry forward

The Director-General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Dr. Dakuku Peterside has identified some peculiar challenges and problems of the maritime sector, just as he gave some factors to be considered in order to move the sector forward.

According to Peterside, in order to achieve the objective of moving the industry forward, there is need for “continuous government attention in addressing peculiar challenges and problems of the sector”. The challenges include: Institutional weakness, government interference/intervention and inadequate infrastructure”.

Peterside, who was represented by a Director in NIMASA, Mr. Akin Akinyosoye, made these points in a paper he delivered at the 5th Nigeria Transport Awards and Lecture held in Lagos on Thursday, April 27.

He added that other factors to be addressed are policy inconsistency, poor capacity building, proliferations of government agencies leading to over regulation of the sector, maritime insecurity, marine environmental pollutions and inadequate incentives & higher tariff structure.

Peterside, who emerged the Maritime Man of the Year during the event, continued: “as the government set to create sustainable economic growth and attract investment, there is need to note the following: review and update of relevant laws, effective local content & cabotage implementation, review the port concessioning agreement to address all lingering and pending issues as well as identify unsuitable operators, provide marine insurance and assurance and guarantee to attract foreign direct investment and capital inflow.

There is also a need, he said, to “change the controversial trade terms from FOB to CIF to encourage indigenous operators to participate in crude oil lifting and government generated cargoes, invest in human capacity building, investing in shipbuilding and ship repairs sector, pursue national carrier vigorously, and establish maritime/ development financial institutions”.

He explained that “the size and strategic importance of the maritime sector impacts on all key sectors of the nation economy from increase revenue generation to territorial safety and security, economic development/growth and social responsibility towards sustainability and enduring success in Nigeria”.

The NIMASA boss explained that “proffered solutions to the aforementioned problems would liberate the nation over dependence on oil and gas sector. These would build a more sustainable economy and significant contributions to the G.D.P”.

The event also witnessed the recognition of some companies and individuals who stood out last year.

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