The Nigerian Maritime Administration and Safety Agency has urged targeted financial incentives and organised funding mechanisms to accelerate shipbuilding and shipyard activity in the country.
The agency stated during a stakeholders’ meeting in Lagos that the industry remains capital-intensive, technologically demanding, and highly competitive, requiring targeted government support to realize its potential.
Represented by Dr Oma Offodile, NIMASA’s Executive Director of Operations, Fatai Taiye Adeyemi remarked that long-term strategic planning, simple policies, and easy funding are necessary for sustainable development in shipbuilding.
Factors reshaping the sector, he pointed out, included maritime decarbonisation, fuel transition, and supply chain disruptions, underscoring the need for large domestic shipyard capacity to support shipping, offshore energy, and maritime security.
Due to a lack of local capability, Nigeria is losing significant revenue to foreign shipyards, which industry players believe regular incentives and policy stability could help bridge.
Limited access to reasonably priced capital, a shortage of trained labour, limited investment in automation and green technology, and procurement volatility are among the main challenges noted.
Strengthening of shipyards would not only stop capital flight but also generate jobs and support Nigeria’s position in the international marine industry, according to NIMASA.
Industry players expressed willingness to work with regulators at the meeting, urging the government to provide consistent policies and targeted support to improve the competitiveness of Nigerian shipyards.
