Council proposes new economic agenda for maritime industry

The Chairman, Ports Consultative Council (PCC), Kunle Folarin, on Monday said that there was need for a new Economic Agenda for the maritime sector.

He said the economic agenda would look into port reforms and local participation policies, port concession and terminal shipping elements, as well as the Cabotage Act (Coastal and Inland Shipping).

According to him, the agenda will also look into Direct Foreign Investment policies and incentives in the maritime transport sector.

“The economic agenda will enable the ports’ regulatory authorities to promote investment opportunities in the maritime sector and improve human capacity building in seafaring,’’ Folarin said.

The expert said that ship building, ship repairs and allied industry opportunities should be paramount under privatisation and private sector participation in the maritime sector.

“The new economic agenda will properly regulate offshore operations, ship building and ship repairs, demand and supply of maritime transport modes and also reduce maritime fraud, ‘’ Folarin said.

He said that in terms of demand, ship building and repair facilities, including dry docking facilities, would require additional 50 establishments, while ship and craft in the cabotage area should be over 4,000.

Folarin said for supply, Nigerian flagged vessels involved in ocean trading were less than 45, while Nigerian flagged ships and crafts in the cabotage area (coastal trade) were less than 50.

According to him, ship building and repairs, including dry docking facilities, are less than 10. The expert described Nigeria’s imports and exports as the basis of the nation’s economic development.

“Our commerce and industry will thrive if we improve on our balance of trade,’’ Folarin said.

He said there was a challenge in the shipping industry to reinforce a new economic order.

The expert said he had carefully examined the demand and supply profile of shipping services in the country and expressed concern about how the support of the shippers’ associations could be won.

“Without shippers’ associations, shipping (cargo) will suffer a decline and the new port order being put in place will not thrive,’’ Folarin said.

The expert said that ship building, ship repairs and allied industry opportunities should be paramount under privatisation and private sector participation in the maritime sector.

He said that maritime operators should be conversant with the new port order, in order to move the industry forward.

Folarin described shippers as the movers of the Nigerian economy, adding that without the ports, there would be no ship and without the shippers, there would be no cargo.

“A total of 5,400 vessels came into the country in 2014, with the efforts of the shippers,’’ he said.” How many of this number are Nigerian enterprises? ’’ Folarin asked.

(NAN)