Nigeria’s Maritime Sector Boosts Its Steam, Generates USD 15 Bn Annually

Information reaching us claims that the Nigerian seaports sector contributes to about 85 percent of goods and services that enter the West African country, currently flaunting about USD 15 Bn-worth facilities which aid the inflow and outflow of activities worth the aforementioned number.

Hadiza Bala Usman, Managing Director of the Nigerian Ports Authority (NPA) made this disclosure while she was presenting a book titled Footprints of President Muhamadu Buhari in the Maritime Sector which has been authored by the Shipping Correspondents Association of Nigeria (SCAN).

Bala Usman, in Lagos, gave credence to the fact that the country’s maritime sector contributes immensely to its economy. Nigeria’s oil and gas sector which is the country’s economic mainstay is yet dependent on sea operations, which means that the former cannot thrive without the latter.

According to her, Nigerian ports are the main gateway into the country, with more than 85 percent of goods and services being shipped in, exploiting facilities at the nation’s seaports with an aggregate value that exceeds the USD 15 Bn mark annually.

The NPA MD also gave regards to the to the present government’s efforts in the maritime sector. To better the economy, Bala Usman says that the current administration put several measures in place to buoy the industry, including a currently-pursued 25-reform plan.

Bolaji Akinola, Chairman of the Board of Trustees at SCAN, who said the book was curated to highlight the government’s efforts in the maritime industry, revealed a record that the huge infrastructural deficit that previously faced the sector has been addressed. Citing the lack of scanners in the ports, deplorable access road, lack of rail evacuation of cargo and the dysfunctional inland container depots, which have all been either bettered or looked into, Akinola confirmed that Nigeria’s maritime sector had taken a good turn.

The SCAN chairman also referenced the level of commitment shown by the current administration, expressing confidence that with consistency Nigeria will emerge among the top 20 maritime economies in the world within the next four years.

Earlier this year, the federal government of Nigeria made us understand that the country’s maritime sector is now attracting both local and international investors. Secretary to the government of the Federation (SGF) Boss Mustapha disclosed that the sector which has been repositioned to be an alternative means to generate revenue in the most populous black nation, is now an investment magnet.

Vanguard reported in January that Dakuku Peterside Director General of the Nigeria Maritime Administration and Safety Agency (NIMASA), noted the country’s maritime industry to be the backbone of international trade, having made significant achievements in the last two years.

According to him, regardless of the setbacks experienced in the sector, the commitment of stakeholders, alongside their professionalism and resilience, were responsible for Nigeria’s maritime’s remarkable performance in recent times.

“The Nigerian maritime sector is on a journey. We are not where we should be yet; hence we need the continuous support of stakeholders in our quest to realize a robust maritime sector so that we can compete favorably with our counterparts in other maritime climes,” he added.

Featured Image: THISDAYLIVE