Nigeria’s Maritime Sector Can Generate Over $40bn Annually — NIMENA Chairman

Editor January 27, 2025Last Updated: January 27, 2025

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,Nigeria’s maritime — Nigeria’s maritime

By DAYO ADESULU

The Chairman of the Nigerian Institution of Marine Engineers and Naval Architects (NIMENA), Eferebo Sylvanus, has highlighted the untapped potential of Nigeria’s maritime sector, stating it can generate over $40 billion annually if properly regulated and supported by research and development initiatives.

Sector Challenges

Sylvanus identified poor regulatory standards and weak enforcement mechanisms as major factors behind the underperformance of the maritime sector, leading to significant revenue losses for Nigeria.

Speaking after his election as Chairman during NIMENA’s Extraordinary General Meeting in Port Harcourt, Sylvanus emphasized the need for collaboration with regulatory agencies, policymakers, and stakeholders to elevate the sector.

Plans for Maritime Transformation

To address the issues, Sylvanus outlined the following initiatives:

Improved Regulation: Strengthening enforcement mechanisms and regulatory standards.
Research and Development: Establishing a journal house to publish research findings addressing maritime challenges in Nigeria and the sub-region.
International Recognition: Positioning NIMENA as a critical player in Africa’s maritime development.

NIMENA’s Vision

Sylvanus emphasized that NIMENA cannot operate in isolation, vowing to foster partnerships and engage stakeholders to advance the maritime sector’s growth.

The immediate past chairman, Daniel Tamunodukobipi, commended the transparent election process and urged the new leadership to prioritize:

Public awareness campaigns about the body’s activities.
Development and maintenance of codes and standards to enhance safety.
Partnerships with relevant government agencies to strengthen the safety framework.