A Review of the Nigerian Energy Industry

NIMASA projects 10 percent increase in ship tonnage for 2019

Nigerian maritime
*Shipping container

Vincent Toritseju

30 January 2019, Sweetcrude, Lagos — The Federal Government through the Nigerian Maritime Administration and Safety Agency, NIMASA has said that a ten percent increase in ship tonnage is expected in the nation’s shipping sub-sector for 2019.

Speaking yesterday at the agency’s maritime industry forecast held in Lagos, Director General of NIMASA, Dr. Dakuku Peterside said that the projected increase is premised on emerging trends in the global maritime industry that will affect the shipping and maritime sector.

Peterside also said that Nigeria’s potentials in the maritime and shipping sector show strong prospects diversification of the Nigerian economy.

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The agency boss explained that for the sector to contribute significantly to economic growth, priority must be given to maritime asset acquisition, human capacity building within the sector infrastructural development and institutional reforms.

He said “A number of players in the maritime and shipping sector are competing effectively but the footprint needs to be increased.

“Players must be willing to invest in innovation and development of a new technological approach to remain buoyant.

Presenting the forecast, Prof Doyin Salami of the Lagos Business Lagos, LBS, said that the Nigerian maritime industry is still below where we were before the recession.

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Salami also said that with the expected increase in tonnage, it means that more shipping services will be needed to service the economy.

He noted that an insecure environment is a disincentive to trade that the issue of piracy must be tackled head-on.

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