Maritime experts at the 30th anniversary of Port News in Lagos have urged immediate action to harness Nigeria’s vast maritime potential for sustainable Blue Economy growth. Despite generating consistent revenue, the sector faces challenges like poor infrastructure, underinvestment, and a shortage of skilled maritime professionals.
Publisher Wale Oni highlighted that while the Cabotage Vessels Finance Fund (CVFF) has accumulated over $800 million, the funds remain unused, stalling support for indigenous ship owners. Foreign dominance and a lack of local expertise further impede growth.
Experts called for robust Cabotage laws, infrastructure investments in ports and shipping facilities, and ongoing training programmes for Nigerian seafarers. Captain Ladi Olubowale stressed collective stakeholder collaboration as key to unlocking the sector’s full economic benefits.
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