Stakeholder Sues For More Investments In Maritime

A stakeholder in the maritime industry, Mr Rex Osagie, has urged the Nigerian business community to take advantage of the general and specific reform strategies adopted by the Federal Government to encourage private sector participation, development and operation in the maritime; and invest in the sector.

Rex who is a licenced Customs  agent, and the Chief Executive Officer of Fontine Agency, a clearing and forwarding outfit said that the federal government has shown commitment in ensuring that indigenous operators are encouraged to do mari- time business through various reforms and policies that have been introduced.

The freight forwarder, who is also a member of the Association of Nigerian Licenced Customs Agents (ANLCA), in an interaction with The Tide in Port Harcourt stated, “there are more openings for investment in the Port concessioning programme, Liberalisation of some port marine  and inland, services, as well as the promulgation of the Liberal Cabotage Law and other Institutional reforms to strengthen  the regulatory frame work to drive and sustain development in the sector.”

He said that Nigerians have not fully tapped into the opportunities that the Cabotage Law provided, which was aimed at encouraging and empowering indegenes to own vessels as well as take over most of the businesses that were dominated by foreigners.

According to him, “Nigerian Seaborne trade constitutes over 70 percent of total seaborne trade of the West African Sub-region, including a notable portion of world’s trade. Given this scenario with the high population of the country, there are significant investments and trade opportunities in the bulk tanker, liner, reefer and passenger/cruise shipping services to and from Nigeria.”

The Fontine Agency Chief Executive however posited that NIMASA as an apex regulatory body of the Martime Industry, is available to guide and assist investors who will decide to explore the options that the reform provides.

He said players can operate Joint Venture or other suitable business partnership/agreement with their foreign counterparts, so far as it conforms to requirements spelt out by NIMASA Law in NIMASA Act 2007, sections 35 – 39.

Rex also pointed out that Investment in tanker shipping have full assurance of employment of their vessels on sustainable basis since Nigeria is a major oil and gas trading country for affreightment of national cargoes.

Corlins Walter