The Nigerian maritime sector does not contribute significantly to the nation’s Gross Domestic Product, the Chief Executive Chief Officer of the Centre for the Promotion of Private Enterprise, Dr Muda Yusuf, has said.
He, however, told our correspondent that the maritime sector was critical to Nigeria’s economy, and expressed hope to see when the sector would start contributing significantly to the country’s GDP.
“If you look at the GDP report, there is no significant reporting of maritime sector contribution to GDP. The only thing you see is water transportation. Maritime is the only water transportation. Sometimes they make a 0.05 per cent contribution.
“Sometimes it’s even zero. I am hoping that by the time they look at the GDP, the contribution of maritime will be more prominent,” he said.
Yusuf urged the government to come up with strong regulations that can protect investors in the maritime industry, highlighting the telecommunication sector as an industry with strong regulations.
“Strong regulations are extremely very important. You know about the telecommunication sector and so on. They can’t just wake up and increase fees anyhow, the Nigerian Communication Commission, we call them to order,” he stated.
The CPPE boss emphasised the need for a stronger policy to protect the jobs of indigenous freight forwarders, among others.
“Our indigenous people cannot expect jobs in their own economy, it is not right. Whether it’s clearing or shipping, these jobs are being taken away. There must be a policy to protect indigenous people in each sector, it is very important.
“We cannot sit by and all the jobs in maritime are being taken away. I am not saying that we don’t need foreign investors. But they can go to areas where we don’t have capacity,” Yusuf stated.
The CPPE boss further noted that “we need more indigenous shipping companies. If they have patronage, they would be able to generate the funds. You don’t have to own a ship before you can get the shipping job. Those who are taking people to work, many of them are owners of the place.”
