Maritime industry expected ‘to grow by 5% in two years’

Matthew Otoijagha

The maritime industry is projected to grow by 2.5 – 5 per cent between 2018 and 2019, a forecast has said. The Nigerian maritime industry forecast for 2018/2019 was unveiled in Lagos by Nigerian Maritime Administration and Safety Agency (NIMASA) Director-General Dr. Dakuku Peterside.
Total fleet size is also expected to grow by 4.08% in 2018 and 4.41% in 2019. Oil tanker fleet size will decrease by 2.23% in 2018 and increase by 1.7% in 2019. The non-oil tanker fleet size is projected to increase by 8.15 % in 2018 and 8.72% in 2019. Oil rig count is projected to increase by 27.67% in 2018 and 0% in 2019.
The forecast, the first of its kind in the sector, is intended to serve as a compass for local and international stakeholders willing to do business in the Nigeria maritime domain. Peterside said the country’s economic success was dependent on the maritime sector.
“A number of factors have contributed to the gradual growth that we have recorded, such as the receding crime in the Niger Delta region; the deep blue scale up of our maritime security architecture is addressing the immediate challenges in this area and is aimed at suppressing the emerging threats on our waters.
“Government’s commitment through initiatives, such as the Presidential Order on Ease of Doing Business, continues to yield positive results in our Ports. The on-going infrastructural reforms in the transport sector are all indicators that we are walking in the right direction.
“As a regulator, we are driven by Values and Commitment, as these factors are the only ways that Investors can be attracted to harness the great potentials in our Maritime Sector. We will continue to work out incentives and maritime sector specific interventions to attract investment,” Peterside said.
Minister of Transportation Rotimi Amaechi  who was present at the occasion said the maritime domain remained the dominant medium for global shipping and commerce. To him, it holds the key to unlocking the streams of opportunities in renewable energy, fisheries, maritime transport, waste management, tourism and biodiversity.

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