Ondo urged to develop maritime industry for economic growth, regional prosperity

The Ondo State government has been urged to adopt a strategic approach to the development of its maritime industry to drive economic growth, create jobs, enhance trade and position the state as a leading maritime hub in Nigeria and West Africa.

The Dean of the Faculty at City University Cambodia, Captain Alfred Oniye, presented the recommendation in his paper titled: ‘Strategic Development of the Maritime Industry in Ondo State’. He emphasised that the strategic approach should include infrastructure development, policy reforms, capacity building and stakeholder engagement.

Oniye, who is also the Team Leader for the Anti-Piracy Assistance Security Service (APASS) at Trident Group America, Inc., underscored the importance of a coordinated effort to harness the full potential of the maritime sector. He stressed that this approach would ensure sustainable and inclusive growth for both the state and its people.

Oniye said by leveraging its strategic location, which offers immense opportunities for maritime activities, along with natural resources and existing infrastructure, Ondo State can enhance its economic prospects and contribute to national and regional development..

Oniye further highlighted the potential of the maritime industry to generate employment opportunities in various sectors, including shipping, logistics, and port operations.

He also noted that enhanced maritime activities could increase state revenue through taxes, fees, and trade tariffs, while improved maritime infrastructure could facilitate trade by providing efficient transport routes for goods and services.

The expert emphasised the importance of regional development and infrastructure improvement, including the development of ports and related infrastructure, which could stimulate regional development and attract investments.

He also pointed to industrial growth, noting that the maritime industry could support the development of related industries, such as shipbuilding, fishing, and tourism, while diversifying the state’s economy by reducing its reliance on oil.

This diversification, Oniye argued, would enhance economic stability. Oniye further highlighted several strategic approaches to developing the state’s maritime industry, such as port development through the construction and modernisation of ports capable of handling large commercial vessels and bulk cargo efficiently. He also advocated for the development of road, rail, and inland waterway connections to support the seamless movement of goods.

Additionally, Oniye called for the establishment of Free Trade Zones (FTZs) to attract foreign investment and promote industrial activities. He recommended investment-friendly policies, such as simplifying business registration and licensing processes, as well as implementing robust maritime laws to ensure safety, security, and environmental protection.