Nigeria says to end cabotage waivers, eyes ship production in 2024

Nigeria said it has begun moves to end granting of cabotage waivers nationwide and target a five-year plan to see to the successful execution of the plan. The country is also targeting to join the comity of shipbuilding nations by 2024.
According to a plan launched by the authority of the Nigerian Maritime Administration and Safety Agency (NIMASA) in Lagos, a new regime that makes indigenous operators compete favourably with their foreign counterparts would be established soon.
The Nigerian Content Development and Monitoring Board (NCDMB) is also planning to float a $200 million facility to support the local shipping industry.
Dakuku Peterside head of NIMASA is, however, hinging the success of the plan on the successful revival of the Ajaokuta Steel Mill and the Aluminum Smelter Company of Nigeria (ALSCON) to achieve local production of vessels.
Noting the place of technical capacity in the entire project, he said his agency was vigorously training Nigerian youths to acquire requisite knowledge on shipbuilding and manning. Peterside said NIMASA had commissioned an audit of shipbuilding yards across the federation and was consulting with the office of the vice president to create incentives for those willing to build vessels in the country.
He stated that arrangements were ongoing to establish a special tax regime for Nigerians to import vessels, adding that his agency was also working with the Central Bank of Nigeria (CBN) to create a single digit facility for the maritime industry to aid indigenous participation.
An official of the NCDMB, Ajomaye Silas, commended NIMASA for the giant stride and sought stakeholders’ collaboration for the achievement of the agenda.
He said the content board recognised that financing was a major issue in the drive, hence it had set aside the $200 million in collaboration with the Bank of Industry to support the project.
Silas urged deployment of the necessary policy framework for actualisation of the plan. He added that training, financial support and technical know-how were equally critical to the realisation of the goal.
NIMASA ex-boss, Temisan Omatseye, painted the despondent state of the shipping industry, challenging the regulator to be alive to its responsibilities. The chairman of Shipowners Forum, Margret Orakwusi, enjoined government to swiftly revive the steel firm owing to its importance to the national economy.”