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May 20, 2024
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Nigerian Minister Vows Support for Ship Owners, Maritime Operators

The Federal Ministry Marine and Blue Economy (FMMBE) has assured ship owners and maritime operators in the country that the Federal Government would create an enabling environment that would support their businesses and the growth of the industry.

Its Minister, Adegboyega Oyetola gave the assurance while interacting with ship owners and operators on steps to be taken towards shaping the future of Nigeria’s maritime sector in Lagos on Tuesday.

He stressed that the operators must recognise the significance of the marine and blue economy sector in stimulating national economic growth and development.

The minister acknowledged ship owners and operators as the backbone of the maritime sector, adding that the government and its agency, Nigerian Maritime Administration and Safety Agency (NIMASA) were exploring fiscal and trade policies to promote greater participation of Nigerians in the shipping industry.

Oyetola said: “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.

“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.”

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