Africa ready for your investments &#8211; Dakuku tells maritime world

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…Urges Europe to Embrace China Model in Africa

… Nigeria is Open for Opportunities Says Ambassador Tuggar

From right : Chairman House Committee
on Maritime Safety, Education and Administration Hon. Umar Bago, the DG NIMASA,
Dr. Dakuku Peterside, The Manager,SMM Hamburg ,Mr. Claus- Ulrich Selbach, the
Chairman Senate Committee on Marine Transport, Senator Ahmed Sanni and the ED
OPS of NIMASA Engr. Rotimi Fashakin at the SMM conference which recently
held in Germany.

The Director General of the Nigerian Maritime Administration and Safety Agency,
NIMASA, Dr. Dakuku Peterside has charged foreign investors to tap in to the
opportunities that abound in the African maritime sector stating that the
continent is one of the largest in terms of cargo contributions to global
maritime trade.

Dakuku who spoke at the Nigerian Business Summit at the sidelines of the
recently concluded Shipbuilding, Machinery Technology (SMM) Conference which
held in Hamburg Germany said that Africa Generates and receives a lot of cargo
and this makes it a market hub of the present and future.

He noted that the Nigerian maritime sector is specifically open to investments
adding that the Federal Government of Nigeria under the leadership of President
Muhammadu Buhari has put policies in place that would be beneficial to
interested investors.

“It is known worldwide that Africa is the world’s biggest untapped market
waiting to be unveiled and if you want to tap into the market of today and the
market of the future then Nigeria is your destination, Nigeria is welcoming
you, Nigeria is the investment destination of today and the future,” he said.

Dr. Dakuku however stated that any investments from outside the continent must
be mutually beneficial to both parties noting that Africa will not be
shortchanged. He advised foreigners willing to participate in the biggest
maritime industry to propose symbiotic terms that would ensue sincere trade
amongst participants. He added that the continent is leaning towards China
because they offer better understanding of the African market. He added that
Europeans must also come to the party with genuine interest and opportunities
of financing for the sector which the industry is in dire need of.

“China appears to be offering Africa favorable terms of engagement in terms of
cost of financing project, in terms of the duration for the payment of
facilities and in terms of ease of transfer of technology, Europe may offer
better technology, Europe may even offer better managerial capability, but what
of the issue of financing, it is up to Europe to realize that the market of the
future is in Africa and offer mutually beneficial terms not terms that benefit
Europe only to the detriment of Africa. So if you offer us favorable terms of
engagement then Africa is open for business, Nigeria is open for business,” he
emphasized.

Also speaking at the event, the Nigerian Ambassador to Germany Hon. Yusuf
Maitama Tuggar said that the SMM Hamburg offer a platform for maritime
investors across the globe to cross fertilize ideas.

He noted that Nigeria
particularly is ready for investment adding that the President Mohamed Buhari
led administration has remained resolute and determined in providing enabling
environment and repositioning of the maritime industry to optimally compete
with its counterparts around the world especially with the introduction of
policies and programs that have remarkable impacts on the sector thereby making
it more attractive for foreign investments.

The SMM, Hamburg is a maritime trade fair organized biannually in Germany to
discuss germane issues of maritime by key players in the industry worldwide.
This year’s summit brought to the fore the impact of emissions from Ships
requesting every maritime nation to seek avenues of emission reduction.