Nigeria’s maritime industry forecast to guide investors

Barring any unforeseen circumstances, the maiden edition of Nigeria’s maritime industry forecast will be launched in the first quarter of 2018.

The Nigerian Maritime Administration and Safety Agency (NIMASA), which is currently working on the forecast, described it as part of the initiative to reposition the sector for greater efficiency in line with international best practices.

Director-General of NIMASA, Dakuku Peterside, who disclosed this in Lagos recently, stated that the forecast will deal with how developments on the international scene will affect the industry in Nigeria, which will also serve as a guide for investors and stakeholders.

He noted that the forecast would be released from a holistic perspective to know areas of advantage that will be of immense benefit to stakeholders and industry players, both locally and internationally.

He said: “On the positive side it will look at where the opportunities will be in the year 2018 & 2019; will greater investment in oil and gas translate to more demand for offshore support vessels? What are the industry perspectives? What government and her agencies should do to attract more investment in the industry amongst other salient issues.

“The maritime industry forecast would also look at whether there will be improvement in maritime security, especially in the Niger Delta and what impact it will have on shipping; the expected impact of NIMASA’s partnership with the Nigerian Content Development Monitoring Board (NCDMB) on Cabotage implementation and international shipping. The various projected impact of shift to digital shipping in Nigeria and its attendant effect on Nigerian shippers will also be analyzed in details.”

Peterside also noted that the maritime forecast would look at the impact of global emphasis on Blue Economy and how Nigerians can benefit from it.

In the area of capacity building the he pointed out that the effect on the industry will be considered as two new specialized Universities; Nigerian Maritime University, Okerenkoko and the Admiralty University are expected to begin academic calender next year, in addition to an already repositioned Maritime Academy of Nigeria (MAN), Oron.

Other areas of focus in then forecast includes; the government decision on investment status in port and maritime infrastructure, the impact of emphasis on reduction on environmental footprint arising from shipping.

From the regulatory perspective, he said the forecast would consider the impact on coming into force of the Ballast Water Management Convention, International Maritime Dangerous Goods (IMDG) mandatory compliance, among other conventions and regulations. The most likely impact of greater safety compliance enforcement by the maritime administration of Nigeria will also be on the front burner in the report.

On the market side, he posited that it will analyze how demand and supply will evolve in the industry. “This report will be the most informative documentation on the future of the maritime industry in Nigeria”. He said.