Business
Nimasa Strategises Against Marine Environment Pollution
The Director-General, Nige
rian Maritime Administration and Safety Agency(NIMASA), Mr Ziakede Akpobolokemi, has said that the agency was opposed to all forms of pollution to the marine environment.
He made the declaration at his office in Lagos, when members of the Maritime Reporters Association of Nigeria (MARAN) paid him a courtesy visit.
Mr Akpobolokemi said the agency’s dedication to protecting the marine environment made it to push for the maritime protection laws to be gazetted.
“A few days ago, we were at the National Assembly over pollution-related issues because we are very opposed to any form of pollution.
“We do not want to tolerate pollution. Our life is the ecosystem and the ecosystem is our life.
“We have a mandate to protect the marine environment. That was why we did everything we could to get our marine protection laws and deregulation gazetted.
“The laws are targetted against pollution that emanates from ships, shipping activities and other pollution to the marine environment.”
He said that the agency was winning the war against piracy, in collaboration with the security agencies.
“Definitely, we are winning the war against piracy, but in collaboration with the security agencies, especially the Navy.
“We have been able to chase pirates out of our territory and it is no longer safe for them.
“They are going out, so it is left for us to go ahead and collaborate with our sister-countries,” he said.
The NIMASA chief said the agency had sent out marine notices to all indigenous vessel owners, warning them not be involved in any way in the act of piracy.
“We have sent marine notices informing all indigenous vessel owners that if any vessel is involved in piracy, such vessel will be impounded.
“The person or group of persons or the company is going to face the full weight of the law. It has sent a strong signal and piracy has reduced,” he stressed.
On the Cabotage Act, the DG said that there was need for an amendment to enable Nigerians meet the requirement.
“We need the laws to be amended. We have approached the National Assembly and I believe they will do something about it.
“Because the law says the vessels must be owned by Nigerians; you say it should be built in Nigeria, but where are the shipyards?”
Our correspondent reports that in 2003, the Cabotage Act of 2003 was introduced in the maritime sector and was aimed at preserving Nigerian coastal shipping areas for local maritime companies.
He said that even as a shipyard was being established, there was need for liberalisation of the industry to enable people come in and build shipyards and dockyards.
The NIMASA chief executive said the need to have Nigerians man such ships that would be built in Nigeria, informed the training of Seafarers under the capacity-building programme.
He added that the agency had continued to ensure that Nigerians got onboard vessels to work, where they had the capacity to do so.
Edun made the call while speaking at the 2025 Fellowship Investiture of the Chartered Institute of Bankers of Nigeria (CIBN) in Lagos, where he reaffirmed the federal government’s commitment to sustaining ongoing reforms and expanding access to finance as key drivers of economic growth beyond four per cent.
“We all know that monetary policy under Cardoso has stabilised the financial system in a most commendable way. Of course, it is a team effort, and those eye-watering interest rates have to be paid by the fiscal side. But the fight against inflation is one we all have to participate in,” he said.
The minister stressed the need for banks to broaden credit access and finance innovation-driven enterprises that can create jobs for young Nigerians.
“The finance and banking industry has more work to do because we must finance their ideas, deepen the capital and credit markets down to SMEs. They should not have to go to Silicon Valley,” he said.
The minister who described the private sector as the engine of growth, said the government’s reform agenda aims to create an enabling environment where businesses can thrive, access funding, and contribute meaningfully to job creation.
The facility, known as the Nigeria Actions for Investment and Jobs Acceleration (P512892), is a Development Policy Financing (DPF) operation scheduled for World Bank Board consideration on December 16, 2025.
According to the Bank’s concept note , the financing would comprise $500m in International Development Association (IDA) credit and $500m in International Bank for Reconstruction and Development (IBRD) loan.
If approved, it would be the second-largest single loan Nigeria has received from the World Bank under President Bola Tinubu’s administration, following the $1.5 billion facility granted in June 2024 under the Reforms for Economic Stabilisation to Enable Transformation (RESET) initiative.
The World Bank said the new programme aims to support Nigeria’s shift from short-term macroeconomic stabilisation to sustainable, private sector–led growth.
“The proposed Development Policy Financing (DPF) supports Nigeria’s pivot from stabilization to inclusive growth and job creation. Structured as a two-tranche standalone operation of US$1.0 billion (US$500 million IDA credit and US$500 million IBRD loan), it seeks to catalyse private sector–led investment by expanding access to credit, deepening capital markets and digital services, easing inflationary pressures, and promoting export diversification,” the document read.
The document further stated that Nigeria’s private sector credit-to-GDP ratio stood at only 21.3 per cent in 2024, significantly below that of emerging-market peers, while capital markets remain shallow, with sovereign securities dominating the bond market.
To address these weaknesses, the DPF will support the implementation of the Investment and Securities Act 2025, operationalisation of credit-enhancement facilities, and introduction of a comprehensive Central Bank of Nigeria rulebook to strengthen risk-based regulation and consumer protection.
The operation also includes measures to deepen digital inclusion through the passage of the National Digital Economy and E-Governance Bill 2025, which will establish a legal framework for electronic transactions, authentication services, and digital records.
Beyond the financial and digital sectors, the programme targets reforms to lower production and living costs by tackling Nigeria’s restrictive trade regime. High tariffs and import bans have long driven up consumer prices and constrained competitiveness, particularly for manufacturers and farmers.
Under the proposed reforms, Nigeria would adopt AfCFTA tariff concessions, rationalise import restrictions, and simplify agricultural seed certification to increase the supply of high-quality varieties for maize, rice, and soybeans. The World Bank projects that these measures will help reduce food inflation, attract private investment, and enhance export potential.
The operation is part of a broader World Bank FY26 package that includes three complementary projects—Fostering Inclusive Finance for MSMEs (FINCLUDE), Building Resilient Digital Infrastructure for Growth (BRIDGE), and Nigeria Sustainable Agricultural Value-Chains for Growth (AGROW)—all focused on expanding access to finance, strengthening institutions, and mobilising private capital.