NIMASA Reiterates Commitment to Shipyard Development to Deepen Blue Economy and Curb Capital Flight

 

The Nigerian Maritime Administration and Safety Agency (NIMASA) has reaffirmed its dedication to bolstering Nigeria's shipbuilding and shipyard sector, positioning it as a vital driver for expanding the blue economy, generating employment, and reducing capital flight.

The pledge came during a stakeholders' breakfast meeting in Lagos, themed: “Dissecting the Issues, Challenges, and Prospects in the Shipbuilding Segment – Discussing Funding Models, Incentives, and Policy Support for Shipyards Growth.” The event, held at the Nigerian Maritime Resource Development Centre (NMRDC) in Kirikiri, brought together industry players to address structural barriers and explore sustainable solutions.

Representing NIMASA's Executive Director of Operations, Engr. Fatai Taiye Adeyemi, Director of Marine Environment Management, Dr. Oma Offodile, emphasized that shipbuilding is a capital-intensive, cyclical, and technically demanding industry. It requires targeted policy interventions, innovative funding models, and consistent incentives to foster long-term viability.

Adeyemi highlighted ongoing challenges in the Nigerian shipbuilding segment, including limited access to capital due to high expenditure and fluctuating revenues, shortages of skilled manpower, insufficient investment in automation and green technologies, limited global competitiveness, and policy inconsistencies.

“Through engagements like these, NIMASA is working with industry stakeholders to address structural constraints, build local capacity, curb capital flight, and position Nigerian shipyards to compete sustainably,” he stated. “This also supports decarbonisation efforts, job creation, and Nigeria's obligations under the International Maritime Organisation (IMO).”

Shipyard owners and operators expressed strong support for collaboration with NIMASA, underscoring the need for targeted incentives, skills enhancement programs, and policy stability to enable local facilities to thrive and reduce reliance on foreign shipyards and repairs—which contributes to significant capital outflows.

The initiative aligns with NIMASA's mandate under the NIMASA Act 2007 to promote maritime safety, shipping development, and the broader blue economy. By prioritizing local shipbuilding and repairs, the agency aims to retain more economic value within Nigeria, create skilled jobs, and enhance the country's maritime infrastructure resilience.

This renewed focus follows previous efforts, such as partnerships for facility upgrades and capacity audits in collaboration with bodies like the Nigerian Content Development and Monitoring Board (NCDMB), signaling a strategic push toward self-sufficiency in the maritime sector.

As Nigeria continues to strengthen its role in global maritime governance, NIMASA's commitment to shipyard development is seen as a key step toward sustainable growth and economic retention in the blue economy.