NIMASA Commits to Boosting Nigeria's Shipbuilding Sector

The Nigerian Maritime Administration and Safety Agency (NIMASA) has reiterated its commitment to strengthening Nigeria's shipbuilding and shipyard development as part of efforts to deepen the blue economy and curb capital flight. This assurance was made during a stakeholder breakfast meeting organized by NIMASA, where the theme focused on dissecting issues, challenges, and prospects within the shipbuilding segment.

The Executive Director of Operations at NIMASA, Fatai Taiy Adeyemi, highlighted that shipbuilding remains a capital-intensive and cyclic sector requiring deliberate policy and financial interventions to achieve sustainable growth. Dr.

Oma Offodil, the representative director of marine environment management, emphasized the need for a clear assessment of structural challenges facing the shipbuilding segment and the collection of agreements on pragmatic funding models and policy incentives capable of driving competitive shipyard growth in Nigeria. Greg Ogbeifun, Managing Director of Starz Marine Limited, commended the federal government's creation of a ministry for the maritime blue economy, describing it as a strategic step toward unlocking the full potential of the maritime sector.