EXPANDING NIGERIA’S
MARITIME INDUSTRY
Nigeria is yet to achieve
its full capacity in the maritime sector. There is no doubt that Nigeria is
major globally recognized and reputable maritime Nation with over 8000km of
navigable inland and coastal channels, including its fresh water lakes, but is
still far from achieving it’s potential in boosting the country GDP.
Research has shown that
there are many factors inhibiting this potential. For instance, Nigerian
seaports are relatively small for modern vessels to load or discharge bulk cargoes
and liquefied products compared to modern seaports in developed countries.
Secondly, the Nigerian waterways are not deep enough for the navigation of
these modern vessels.
The setbacks need urgent
attention and must be corrected immediately if we must compete favourably with
our counterparts elsewhere, and this has the ability of reducing Nigeria’s
level of involvement in international trade and the global economy.
Nigeria needs to copy the
strategic efforts of world renowned maritime nation’s like panama, Nicaragua,
Norway, the United States and Denmark and create a significant future for
effective and efficient global maritime economy. This is achievable and must be
pursued.
Nigeria
needs to start thinking ahead of its African peers in building a sustainable maritime
economy to boost its GDP. Countries like Nicaragua are positioning itself for
the future, for instance, a recent proposal highlighted the potential of
connecting the Atlantic Ocean to the Pacific Ocean via the Nicaraguan lake and
isthmus of Rivas. This would facilitate the passage of large vessels of over
80,000dwt, speeding transit times and decongesting the Panama Canal, thus
bringing much income to the Nicaraguan government. Nigeria strongly needs to be
thinking towards that direction.
In
so doing, the country’s GDP would benefit enormously if the right things are
put in areas for effective maritime competitiveness and significant trade
participation larger vessels.
The
plans to expand the Nigerian maritime industry should not be limited to
deepening the coastal waterways but should be extended to the re-enforcement of
human capital within the maritime sector such as management and financial
empowerment, digital supply chain proficiency etc.
A
recent study by the Nigerian ports Authority (NPA) in 2017 found out that a
whooping $7 billion dollars of annual revenue is lost due to inefficiencies and
weak infrastructure of Nigerian Seaports, this suggests that more needs to be
done in this sector.
In
conclusion, in expanding the Nigerian Maritime industry, the government needs
to create a more competitive and enabling infrastructure, including digital
logistics, inland waterways expansion, foreign direct investment and
encouraging more private investors to enter the maritime business.
These
definitely would help Nigeria and also boost its economic situation.
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