Maritime
MOWCA Set To Actualise Effective Regional Maritime Funding
Rising from a three-day workshop in the Republic of Congo, the Maritime Organisation of West and Central Africa (MOWCA) has been mandated by member states and experts to commence a processs of sensitisation for uniform application of Regional Maritime Fund policy effective January 2026.
MOWCA’s Secretary General, Dr. Paul Adalikwu, was mandated to lead an awareness campaign to the 25 member countries throughout 2025, in order to ensure the full implementation of the Regional Maritime Fund (RMF) from January 1, 2026
Member countries recalled that the RMF mechanism, approved by the MOWCA General Assembly in 1999, aimed to enhance maritime sector financing across the countries and facilitate the Maritime Administration’s ability to implement national policies and support regional projects on an 80-20 basis on $3 per metric tonne of cargo carried.
It is to be generated through a levy on shipowners operating in the West and Central African subregion as a self-financing model that allocates 80% of collected funds for the country of transaction and 20% for MOWCA
Speaking on the development, Dr. Adalikwu described sustainable maritime funding as a prerequisite to building a verile blue economy capable of supporting national development
According to the SG, not funding the maritime sector but expecting gains from it is like having a perfect automobile without fueling but wishing it takes you to your destination
He added that the gap for the many years MOWCA countries didn’t do funding according to the extant rule caused a setback in maritime development, but expressed optimism in overcoming the challenges where there is cooperation and support.
Adalikwu listed derivable gains from the funding, when implemented, to include improvement in maritime infrastructure; rapid development of maritime expertise through training and retraining; proper harnessing of marine endowments for environmentally friendly and sustainable economic activities; evolving a development of blue economy across member countries in line with international best practice.
The MOWCA SG lauded member states that have been contributing to the financial sustenance of the organisation and urged others to emulate them.
He added that African countries with marine endowments and dry ports capabilities needed to give priority attention to multimodal transportation for ease of connectivity and movement of goods and services.
He stated that the MOWCA Secretariat is willing to support in technical collaboration and easy access to experts within the region for transfer of knowledge and training.
“The maritime industry is the driving force of global commerce and should not be given a backstage position during national budgeting by countries endowed as coastal states.
“It’s time African countries build capacities, acquire technology and ensure transfer of knowledge from the old to younger generation of maritime professionals and experts.
“As various member states push for their tailor made cabotage regime, I believe we can create a regional cabotage where businesses citizens of MOWCA member countries enjoy priority opportunities ahead of foreigners as a way of creating a flourishing blue economy”, he said.
Business
Navy Hands Over Five Suspected Stowaways to NIS
Business
Navy Nabs 13 Black Sand Miners In Bayelsa –Impound Two Boats
Maritime
NCS Holds Free Medical Outreach For 2,000 Daura Residents
-
News4 days ago
Rivers Court Jails Man Seven Years For Defiling Minor …Directs N5 Million Upkeep For Victim
-
News4 days ago
Alleged Coup Plot: DSS Docks Five For Hiding Sylva’s Whereabouts
-
Politics4 days agoAtiku Names Kenneth Okonkwo As Spokesperson
-
Niger Delta4 days ago
24 Nigerian Universities Make 2026 THE Rankings … 4 S’South Versitieis Pull Through
-
News4 days agoFG To Replace NYSC Khaki With Adire
-
News4 days ago
BOI Unveils Maiden Impact Report, Disburses N644.9bn In 2025
-
News4 days agoFubara Seeks Full Resolution Of Bille Gas Leakage …Pledges Upgrade Of Community Health Centre
-
Women4 days ago
NAWOJ Seeks Partnership With Hotel Presidential On Summit
