Nigeria is losing more than $40 billion yearly from the maritime sector due to poor regulatory standards and the lack of enforcement mechanisms.
To deal with this trend, stakeholders are canvassing for proper regulation and prioritization of research and development, as it could unlock the full potential of the sector and contribute to Nigeria’s economic growth.
In a statement obtained, the newly elected chairman of the Nigerian Institution of Marine Engineers and Naval Architects (NIMENA), Eferebo Sylvanus, revealed: “Nigeria has the potential to generate over $40 billion annually from the maritime sector.
“However, we are losing out on this because of a lack of proper regulatory standards and enforcement mechanisms. It is crucial that we focus on strengthening these areas and investing in research and development to solve the sector’s challenges.
“My priority is to lead NIMENA to attain international recognition. We will set up a journal house to publish research and development activities that will tackle Nigeria’s and sub-regional maritime challenges. Our collaboration with regulatory agencies, policymakers, and stakeholders will play a critical role in achieving this goal.
“We have set up a membership committee to address the challenges faced by prospective and existing members while enhancing their benefits.
“It is important to develop and maintain codes and standards to strengthen the safety framework in the sector. Public enlightenment campaigns are also necessary to educate Nigerians about the activities of NIMENA and the importance of a well-regulated maritime sector.
“We will engage in workshops, technical sessions, and collaborations with government agencies to ensure that the maritime sector becomes a major revenue earner for Nigeria. Together, we can transform this industry into a global standard.”
Source: www.mynigeria.com
