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Nigeria risks losing billions of naira in maritime economic value, experts warn

by Online Editor
December 2, 2025
in News
Reading Time: 2 mins read
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Nigeria risks losing billions of naira in maritime economic value, experts warn
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By Obiabin Onukwugha

Stakeholders in the maritime sector have warned that Nigeria risks losing billions in maritime economic value due to weak institutional coordination and absence of a unified national vision for the blue economy,

They gave the warning at the recently held 14th Annual Conference of the Nigerian Institution of Marine Engineers and Naval Architects (NIMENA), with theme “Digital Maritime Transformation and Smart Solutions: A Pathway to the Advancement of Nigeria’s Blue Economy,” in Port Harcourt, Rivers State.

Speaking on the theme of the conference, NIMENA National Chairman, Engr Sylvanus Eferebo, observed that Nigeria’s maritime sector which is responsible for over 90 percent of the nation’s international trade was being slowed down by fragmented agencies and lack of harmonised policies.

“We cannot continue like this. There are too many agencies doing their own thing without a central national vision. Until we forge one pathway, Nigeria will keep losing value in the blue economy,” he said.

Eferebo noted that Nigeria’s failure to coordinate standards across the Nigerian Maritime Administration and Safety Agency, NIMASA, Nigeria Ports Authority NPA, National Inland Waterways Authority, NIWA, Standards Organisation of Nigeria, SON, the Nigeria Contend Development Management Board, NCDMB, and other agencies was costing the industry competitiveness.

The NIMEMA boss emphasised that critical maritime problems such as boat mishaps, rickety crafts and dirty waterways were indicators of the absence of harmonised policy and smart regulatory systems.

He also insisted that Nigeria holds enough natural advantages to lead Africa in maritime business.

“Weak inter-agency coordination, poor regulation of imports, substandard engines and poor maintenance culture are draining billions from our maritime economy.

“These problems persist because we don’t have structured solutions,” he said. “With a national vision, digital transformation will clean our waters, improve safety and drive new economic opportunities.

“We have one of the longest coastlines, the highest oil and gas activities on water, and the largest youth population to power maritime innovation,” Eferebo stated.

The Keynote Speaker, Engr Olugbemiro Aladenusi, represented by Ayman Ibrahim Adam, warned that Nigeria must urgently embrace digital maritime infrastructure or risk economic irrelevance.

“Digital transformation in maritime is no longer an evolution but a full-scale revolution,” he said. “If Nigeria fails to adapt quickly, the consequences will be severe. But if we move now, we can become Africa’s maritime power hub.”

A Singapore-based tech expert, Chandni Jaga, also emphaised that only a unified national vision could unlock the industry’s wealth potential.

“Nigeria needs one single maritime vision. If that happens, everything else will follow: innovation, investment and global competitiveness,” she said.

Earlier in his address, President of the Council for the Registration of Engineers in Nigeria, Saddiq Abubakar, said Nigeria’s maritime domain plays a significant role in trade, logistics, energy exports, naval defence, and blue economy development.

He pointed out that despite this strategic position, Nigeria’s maritime capacity is constrained by the proliferation of substandard marine engines and equipment, poor maintenance culture, high failure rates of marine machinery, inadequate shipyard capabilities, and limited local content.

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