NIMASA commits to shipyard evelopment, capital flight cuts
NIMASA Prioritizes Shipyard Development to Enhance Blue Economy and Reduce Capital Flight
By Godwin Oritse
LAGOS — The Nigerian Maritime Administration and Safety Agency (NIMASA) has affirmed its commitment to advancing the nation’s shipbuilding and shipyard development. This initiative is part of a broader strategy aimed at enhancing the blue economy and minimizing capital flight.
During a stakeholders’ breakfast meeting titled “Dissecting the Issues, Challenges, and Prospects in the Shipbuilding Segment,” NIMASA’s Executive Director of Operations, Engr. Fatai Taiye Adeyemi, emphasized the need for targeted policy and financial interventions in the capital-intensive and technically demanding shipbuilding sector.
Adeyemi, represented by Dr. Oma Offodile, Director of Marine Environment Management, noted that the gathering aimed to evaluate the structural challenges facing the shipbuilding segment. The discussions sought to identify feasible funding models, incentives, and policy options to promote competitive growth in Nigerian shipyards.
“Shipbuilding is a strategic pillar of Nigeria’s maritime and blue economy aspirations. Due to its capital-intensive nature and competitive landscape, effective funding models and consistent policy support are essential,” Adeyemi stated.
Through such initiatives, NIMASA aims to work collaboratively with industry stakeholders to tackle systemic challenges, enhance local capacity, and reduce capital flight. The agency also seeks to position Nigerian shipyards for sustainable competition while supporting decarbonization efforts and job creation, in line with commitments to the International Maritime Organization.
