NIMASA commits to shipyard evelopment, capital flight cuts

By Godwin Oritse

The Nigerian Maritime Administration and Safety Agency, NIMASA, has reiterated its commitment to strengthening Nigeria’s shipbuilding and shipyard development as part of efforts to deepen the blue economy and curb capital flight.

Speaking at a stakeholders’ breakfast meeting organised by the Agency themed: “Dissecting the Issues, Challenges, and Prospects in the Shipbuilding Segment – Discussing Funding Models, Incentives, and Policy Support for Shipyards Growth,” NIMASA’s Executive Director, Operations, Engr. Fatai Taiye Adeyemi noted that shipbuilding remains a capital-intensive, cyclical and technically demanding sector that requires deliberate policy and financial interventions to achieve sustainable growth.

Adeyemi, who was represented by the Director, Marine Environment Management, Dr. Oma Offodile, said the breakfast meeting was designed to provide a clear assessment of the structural challenges confronting the shipbuilding segment and to collectively agree on pragmatic funding models, incentives and policy options capable of driving competitive shipyard growth in Nigeria.

He said: “Shipbuilding is a strategic pillar of Nigeria’s maritime and blue economy aspirations. It is capital-intensive, technically demanding and highly competitive, which is why deliberate funding models, targeted incentives and consistent policies are critical.

“Through engagements like these, NIMASA is working with industry stakeholders to address structural constraints, build local capacity, curb capital flight and position Nigerian shipyards to compete sustainably, while supporting decarbonisation, job creation and our obligations at the International Maritime Organisation,” he said.

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