By Myke Uzendu, Abuja
The Federal Government has promised to create enabling environment that supports and promotes businesses in the Maritime Sector of Nigeria’s economy.
At the Stakeholders’ engagement with shipowners and operators on Tuesday at Lagos, the Minister of Marine and Blue Economy, Adegboyega Oyetola noted that government has identified the critical contributions of the maritime sector to the economy.
He re-assured of federal government commitment to create an enabling environment that supports their businesses and promotes the growth of the sector as a whole.
The minister said that ship owners and operators are the backbone of the maritime sector and making enormous contributions to trade, transportation, and job creation.
He said,” I am delighted to welcome you all to this crucial Stakeholders’ Engagement for ship owners and operators. Today, we gather to discuss and interact with a view to shaping the future of Nigeria’s maritime sector.
“As we navigate the complex waters of global trade and economic uncertainty, we must recognize the significance of the marine and blue economy sector in stimulating national economic growth and development.
“The government has identified this sector as a pivotal area of focus, and we are committed to creating an enabling environment that supports your businesses and promotes the growth of the sector as a whole.
“Ship owners and operators are the backbone of the maritime sector, contributing to trade, transportation, and job creation. We acknowledge the challenges you face, from safety and security concerns to regulatory hurdles and market fluctuations. It is the resolve of government to address these challenges and foster a conducive environment for your operations.”
The Minister added,”Our efforts to enhance efficiency, transparency, and competitiveness in the sector are already yielding positive results.
“The Nigerian Maritime Administration and Safety Agency (NIMASA) Act has promoted safety standards, enforced regulations, and boosted investors’ confidence. We are exploring fiscal and trade policies to promote greater participation of Nigerians in the shipping industry.
“A major part of the plan, is to unlock the Cabotage Fund for disbursement to support the growth and development of shipping businesses in the country. The Ministry is committed to delivering this soonest.
“Our attention to the shipping industry must be holistic, encompassing investments in fleet, improvement of regulatory frameworks, upscaling of local manpower and capacities, fine tuning of operational efficiencies, and of course increasing turnover and revenue.”
Oyetola called for synergy among stakeholders to reverse unfavourable terms of trade in the sector.
“We must work together to reverse unfavourable terms of trade in the sector for the benefit of our economy. Moving forward, our collective resolve must be to foster collaboration among regulators and stakeholders to streamline processes and enhance efficiency.
“In conclusion, I encourage everyone here present to be frank and constructive. Our dialogue must renew our collective hope and aspiration. Let us seize this opportunity to forge partnerships, foster innovation, and propel Nigeria’s blue economy towards a prosperous and sustainable future,” the Minister said.
In his remark, the Permanent Secretary of the Ministry, Olufemi Oloruntola told stakeholders that the engagement was specifically organized to rob minds with them towards fast tracking the attainment of desired ideals in the country’s maritime sector.
According to him, the depth of understanding demonstrated by the present administration regarding the relevance of marine and blue economy to the nation’s development is now not in doubt, since the creation of the Ministry.
“The Ministry on its part, recognizes the central role shipowners/operators and the critical role shipping plays in the economy. It is for this reason that the Ministry seek your valuable input and thoughts.
“The nascent Ministry is putting together necessary policy frameworks for the sector. It is appropriate that the Ministry maintain a close contact with critical stakeholders. Several vital policy decisions are soon to be taken.
“We have painstakingly identified some major stakeholders in the marine and blue economy sector for this round of engagements. I am pleased to note that your esteemed group is one of these stakeholders. We are here to seek your valued experience and contributions,” he said.
