The Nigerian Maritime Administration and Safety Agency (NIMASA) has stressed that deliberate funding models, targeted incentives and consistent policies are critical for shipbuilding and shipyard development, which remains capital-intensive, technically demanding and highly competitive.

The agency, during a stakeholders’ breakfast meeting yesterday in Lagos, reiterated its commitment to strengthening the country’s shipbuilding and shipyard development as part of efforts to deepen the blue economy and curb capital flight.

The assurance was given at a stakeholders’ breakfast meeting organised by the agency.

Executive Director of Operations, NIMASA, Fatai Taiye Adeyemi, noted that shipbuilding remained a capital-intensive, cyclical and technically demanding sector that requires deliberate policy and financial interventions to achieve sustainable growth.

Adeyemi, who was represented by the Director, Marine Environment Management, Dr Oma Offodile, stressed the need for a clear assessment of the structural challenges confronting the shipbuilding segment and to collectively agree on pragmatic funding models, incentives and policy options capable of driving competitive shipyard growth in Nigeria.

“Through engagements like these, NIMASA is working with industry stakeholders to address structural constraints, build local capacity, curb capital flight and position Nigerian shipyards to compete sustainably, while supporting decarbonisation, job creation and our obligations at the International Maritime Organisation,” he said.

Adeyemi explained that global developments such as maritime decarbonisation and fuel transition, supply chain fragility and geopolitical concerns have reshaped the shipbuilding landscape, increasing the demand for strong domestic capacity to support shipping, offshore energy, defence and other critical maritime assets.

He identified key challenges facing the sector to include restricted access to capital due to high capital expenditure and cyclical revenues, shortage of skilled manpower, underinvestment in automation and green technologies, insufficient scale to compete globally, as well as policy inconsistency and procurement uncertainty.

Adeyemi added that shipyards are pivotal to maritime decarbonisation, as they are responsible for building energy-efficient vessels that meet the standards of the International Maritime Organisation (IMO).

He stressed the need to sustain Nigeria’s recent return to Category C, noting that a vibrant shipbuilding industry remained critical to job creation and the overall blue economy development.

Adeyemi noted that the agency’s renewed focus on shipyard development aligns with the provisions of the NIMASA Act, which mandates it to promote maritime safety, shipping development and capacity building.

He said supporting shipyard operations, indigenous shipbuilding capacity and associated infrastructure remained central to the agency’s statutory responsibility to facilitate sustainable growth of the maritime sector and advance Nigeria’s blue economy objectives.

Delivering the keynote, the Managing Director of Starz Marine Limited, Greg Ogbeifun, called for deliberate support for shipyard operators to enhance capacity, improve competitiveness and attract investment.

Shipyard owners in Nigeria expressed willingness to collaborate with NIMASA to curb capital flight and build local capacity within the sector.

They emphasised the importance of targeted support, skills development and policy stability to enable shipyards to compete effectively.