Expert slams FG, NIMASA for neglecting shipping industry

A maritime expert has blamed the Federal Government’s approach to the development of indigenous shipping and the Nigerian Maritime Administration and Safety Agency (NIMASA) sole focus on revenue collection for the dearth of indigenous shipping in the country.

The Chief Executive Officer, Ships and Ports Limited, Dr. Bolaji Akinola, criticised the state of the country’s shipping industry for 64 years, as not one Nigerian company owns a single vessel among the over 5,000 ships that call at the nation’s seaports yearly.

He said these ships, owned by foreign interests, dominate waters and enrich their countries while Nigeria remains a passive observer, exporting oil, gas and agricultural products as well as importing goods with no stake in the transportation process.

Akinola sounded a clarion call about the dire state of the indigenous shipping industry, which has been crippled by decades of mismanagement and government neglect.

Akinola expressed deep concern over the collapse of the Nigerian National Shipping Line (NNSL), once a symbol of national pride and economic strength, but now a stark reflection of poor governance and neglect in the maritime sector.

He said the NNSL, established at independence in 1960, was envisioned as a national carrier that would boost the nation’s standing in global trade and solidify its economic autonomy.

Akinola said, however, that just 25 years later, the NNSL had been run into the ground, leaving Nigeria without a single vessel to call its own.

The maritime expert placed the blame on the failure of leadership, citing the Nigerian Maritime Administration and Safety Agency (NIMASA) as a key culprit.

He said the NIMASA, tasked with promoting indigenous shipping, has devolved into a revenue collection body rather than fulfilling its mandate to foster local maritime growth.

“Despite its vast resources and regulatory powers, Nigeria’s presence in the global shipping industry remains negligible,” he said.

The maritime expert also criticised the Federal Government’s indifferent commitment to reviving the sector, arguing that successive administrations have ignored the strategic importance of a vibrant national shipping industry, allowing it to decay.

He said policies that could have empowered indigenous shipping companies to compete internationally have been absent, leaving Nigeria dependent on foreign shipping companies, which exploit the country’s resources while offering little benefit in return.

Akinola also emphasised that the creation of the Ministry of Marine and Blue Economy by the current administration had initially raised hopes for change, however, a year after, there has been no real progress in addressing the core issues of infrastructure, access to capital and policy support.

The consequences of this neglect, Akinola explained, are far-reaching as Nigeria is forced to pay exorbitant fees for transporting its goods, which weakens its trade balance, limits job creation and diminishes economic independence.

According to Akinola, the absence of a robust maritime industry hinders Nigeria’s ability to fully tap into the blue economy, a sector that could significantly boost the country’s N7 trillion to gross domestic product (GDP) yearly, if properly harnessed.

Looking forward, Akinola called on the government to take immediate and decisive action to prioritise the development of Indigenous shipping through strategic investment in shipbuilding infrastructure, access to credit for ship owners and policies that promote local participation in international trade.

Akinola further emphasised that revitalising the national shipping carrier is not merely about economic gains but also about Nigeria’s sovereignty and standing in the global maritime community.