Failure to pass laws in Nigeria hampers maritime sector, report claims

The failure by the Nigerian National Assembly to pass maritime sector bills into law has severely hampered growth and development of the maritime sector, according to a report new Maritime Industry report released by the Nigerian Maritime Administration and Safety Agency (NMASA),

The bills, five maritime and one petroleum industry-related, have delayed earnings running into billions of dollars, the report claims. The bills include; Petroleum Industry Governance Bill (PIGB), Anti-piracy Bill; the Establishment of the Nigerian Marine Development Bank Bill; Inland Fisheries Act (Amendment) Bill 2017; the Deep Offshore and Inland Basin Production Sharing Contract (Amendment) Bill 2016; and the Cabotage Act (Amendment Bill) 2017.

The PIGB, if passed into law, would increase cabotage activity, stimulate demand for crude oil tankers, as well the importation of oil and gas production equipment, and bunkering activity, it was claimed. NMASA director-general Dakuku Peterside said he was optimistic that the five important maritime sector bills would be signed into law this year, as they are currently undergoing legislative processes at the National Assembly.

The emerging opportunities in the Nigerian maritime sector, according to the report, are in the areas of manpower and human capacity development; infrastructural development; globalisation and the application of new technology; research and development; security; marine agriculture, insurance and tourism; waste management and the development of ocean based industries.