NIMENA: Nigeria’s Maritime Industry Poised to Contribute $44bn to GDP Annually

Blessing Ibunge in Port Harcourt

The National Chairman of the Nigerian Institution of Marine Engineers and Naval Architects (NIMENA), Dr. Daniel Tamunodukobipi, has disclosed that Nigeria’s maritime industry has the potential to contribute $44 billion to the country’s Gross Domestic Product (GDP) annually.

Tamunodukobipi, said to achieve this, there was need for collective action to advance national maritime regulations.

The call to action came as stakeholders in the maritime industry gathered to discuss the theme: “Advancing National Maritime Regulations for Shared Prosperity,” at the 13th Annual Conference of NIMENA in Port Harcourt, yesterday.

“We must to work together to advance national maritime regulations and unlock the industry’s potential,” the NIMENA boss said.

Speaking with journalists at the event, Chairman of the South-South Steering Committee, George Okoroma, highlighted the importance of regulations in ensuring safety in the maritime industry.

He noted that regulations were key to preventing accidents and ensuring the industry’s growth.

“We must regulate engineering practices to prevent accidents and ensure the industry’s growth,” he added.

Also, in his presentation on “The Cabotage Act and the Role of Waivers in The Advancement of the Nigerian Maritime Industry,” the Executive Director, Maritime Labour and Cabotage Services, Jibril Abba, explained that the Act aimed to promote local content and capacity building in the maritime industry.

Represented by his Assistant, Stephen Opara, he emphasised the need to promote local content and capacity building in the maritime industry through the Cabotage Act.

“The Act is designed to prevent foreign domination of our trade and encourage indigenous capacity building,” he said.

On his part, the keynote speaker, Andrew Aligbe, noted that effective regulations were essential to unlocking the industry’s potential.

“Maritime regulations are the backbone of a robust, sustainable, and inclusive maritime industry,” he said.

The conference discussed innovative approaches to maritime safety compliance, technological advancements in naval architecture, and economic growth through maritime financing.

The maritime stakeholders noted that with the industry’s potential contribution to the GDP estimated at $44 billion annually, they were eager to work together to advance national maritime regulations and unlock the industry’s potential.