By Faridat Salifu
The Nigerian Maritime Administration and Safety Agency (NIMASA) has reaffirmed its dedication to advancing shipbuilding and shipyard development to bolster Nigeria’s Blue Economy and reduce capital flight.
This commitment was announced at a stakeholders’ breakfast meeting organized by NIMASA, 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 of Operations, Engr. Fatai Taiye Adeyemi, emphasized that shipbuilding is capital-intensive, cyclical, and technically demanding, requiring deliberate policy and financial interventions for growth.
Adeyemi, represented by Dr. Oma Offodile, Director of Marine Environment Management, said the meeting aimed to assess structural challenges in the shipbuilding sector and agree on practical funding models, incentives, and policy options.
He explained, “Shipbuilding is a strategic pillar of Nigeria’s maritime and Blue Economy aspirations.”
Adeyemi added that, due to its capital intensity and technical demands, targeted funding models, consistent incentives, and policy support are vital for sustainable development.
He said NIMASA is collaborating with industry stakeholders to overcome structural constraints, build local capacity, curb capital flight, and position Nigerian shipyards competitively.
He noted that these efforts also support decarbonization, job creation, and Nigeria’s commitments to the International Maritime Organisation.
