Insight for Developments

Nigeria Maritime Sector

Download Whitepaper : Challenges & Solutions_Private Sector Participation in the Nigeria Maritime Industry

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Download Whitepaper : Challenges & Solutions_Private Sector Participation in the Nigeria Maritime Industry B2MASTER 7:08 pm

There is no gainsaying the fact the Nigeria maritime industry plays a prominent role in the economy of most nations. As a matter of fact, events around the world have shown that the maritime sector, when handled rightly, can go a long way in the reduction of poverty, wealth creation, skills acquisition pro-motion and encouraging entrepreneurship.

The maritime sector, if well harnessed, not only has the capacity to boost a country’s economic development but also contribute very significantly to the growth of the national gross domestic product (GDP). Some of the opportunities the sector can bring include: providing a platform for global shipping and commerce; act as a source of renewable energy; enabling fisheries, tourism, maritime transport and infra-structure, to mention but a few.

In Nigeria, the maritime industry has for some decades now, been bedeviled by myriads of challenges including but not limited to paucity of funding/financing and public private partnership (PPP), inadequacy of the legal and regulatory framework, inadequate incentives for private investors, lack of political will and inconsistencies in policy formulation. It is against the foregoing background that this publication underscores the need for collaboration between the Nigerian government, industry stakeholders and private investors

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