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Value of Nigeria’s maritime assets hits N90trn

By Godwin Oritse
NIGERIA’s maritime  industry asset is presently valued at about $200billion (N61trillion).

Disclosing this at the monthly meeting of the Port Facility Security Officers (PFSO) Forum of the Lagos maritime security zone, secretary of PFSO, Mr. Ignatius Uche, also disclosed that about $2billion (N310billion) has been generated from the three percent freight levy accruable to Nigerian Maritime Administration and Safety Agency, NIMASA.

Uche disclosed that the assets include investment in ports development, ships, and onshore/offshore oil terminals and other assets. The PFSO scribe said that with about 165 port facilities across the country under the NIMASA, the need for a national maritime security policy cannot be overemphasized.

His presentation entitled, ‘Establishing the relevance of the International Ship and Port Facility Security (ISPS) Code within a sound national security framework’, noted that there was a convergence between the ISPS Code implementation, maritime security and national security. Uche stated: “ISPS Code implementation is a critical component of any nation’s security arrangement and must, therefore, connect with the overall maritime security architecture.

Currently, the nation has no defined national maritime security strategy neither is there an articulated policy to govern the overall maritime activities. This has led to gaps and inefficient maritime security and policing effort.”

The post Value of Nigeria’s maritime assets hits N90trn appeared first on Vanguard News.

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