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Nigerian Seafarers Highlight $100 Billion Potential in Maritime Industry

Seafarers in Nigeria have emphasized the immense potential of the country’s maritime industry, stating that it could generate $100 billion annually if effectively harnessed. These remarks were made during the commemoration of the 2023 World Seafarers Day, organized by the Joint Body of Nigerian Seafarers’ Professional Group, which includes several associations such as the Female Seafarers Association of Nigeria and the Merchant Seafarers Association of Nigeria.

Captain Alfred Oniye, the Secretary-General of the Merchant Seafarers Association of Nigeria, addressed journalists during the event, expressing his belief that the proper implementation of the Cabotage Act could propel the maritime industry to generate a minimum of $50 billion each year.

“The implementation of the Cabotage Act has the potential to generate no less than $50 billion annually for the maritime industry by creating numerous opportunities. Nigeria’s maritime sector has tremendous untapped potential. It has the capacity to generate over $100 billion annually for the current administration,” he asserted.

Oniye also highlighted the need for the establishment of a coast guard, emphasizing that Nigeria, with its significant coastline, should not overlook the importance of such a maritime security force.

Additionally, he drew attention to the high unemployment rate among Nigerian seafarers, with approximately 80 percent of them without jobs, and many unable to find work at sea.

“To enable our seafarers to compete globally, we need to enhance their training and professionalism and create job opportunities for them. Even foreign vessels operating under the Nigerian flag should be required, by government policy, to employ 80 percent Nigerian seafarers and only 20 percent foreign seafarers,” Oniye stated.

Furthermore, he urged the Federal Government to implement policies that promote shipbuilding within the country, as this would not only create jobs for over 5,000 Nigerians but also contribute significantly to the country’s economy. By implementing the Cabotage Act and constructing ships domestically, the potential for job creation could surpass 15,000 positions, all owned by Nigerians.

Captain William Ogunshakin, Chairman of the organizing committee for the event, further emphasized the dominance of foreign-owned vessels operating in Nigeria, with 70 percent of them under foreign ownership. He highlighted the economic implications of this arrangement, with payments for their services being made to foreign countries rather than staying within Nigeria.

“Previously, the seafaring industry was thriving, and there was a time when job opportunities were abundant. However, the situation has changed, and even when you secure a job, there is no satisfaction. The morale of students studying in maritime schools has been affected,” Captain Ogunshakin explained.

In response to this issue, initiatives such as the establishment of a football team and other activities have been implemented to uplift the spirits of maritime students and professionals, aiming to restore enthusiasm and hope within the industry.