Global maritime industry has untapped potential for growth, wealth-creation- Jadesimi, LADOL Chairman

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LADOL Chairman, Mr. Ladi Jadesimi

Chairman of LADOL, Mr. Ladi
Jadesimi, has described the global maritime industry as holding vast untapped
potential for growth and wealth creation.

The Chairman added that the sector also holds
the key to the sustainable economic development of Nigeria when its potential
is adequately put to appropriate use.

Jadesimi made the statements
while chairing the 2019 Nigerian Shippers’ Council (NSC) Annual
Stakeholders Appreciation Night held recently in Lagos.

The Chairman stated that having
the longest coastline in West Africa gave the Nigerian maritime sector vast
untapped opportunities and that the maritime sector could develop sustainable
businesses that would dwarf the revenues we get from exporting commodities.

He pointed out that across the
world crude oil was increasingly being marginalised and huge pressures continue
to mount to move to cleaner alternatives, and renewables.

At the same time the maritime
sector is offering a wide range of new business opportunities from clean energy
to new modes of transportation, logistics and agriculture – maritime sector
cuts across almost all other sectors.

“The maritime industry holds the
key to the sustainable economic development of Nigeria by developing the full
the potential within the sector across a range of industries.”

“Whatever we do must be
underpinned with strong local content – in today’s world that starts with
Nigerians owning, engineering and building the ships we use.

“It is however demonstrably the
case that we have quite a large financial and capacity gap to fill for
Nigerians to be in a position to own most of the vessels ploughing through our
waters.

“Of course, we are all aware of
the particular challenges militating against expansion of vessel ownership by
Nigerians, the number one hurdle being access to long term finance at a
reasonable price. Nonetheless, the opportunities here are considerable and more
than sufficient to support the needed investment,” he said.

“Nigeria is ideally placed and
suited to become the ship building, repairs and maintenance hub for Africa.
This will go hand in hand with ship building. Our local market alone can
justify the investments and new facilities needed. This is also an industry that
has a significant multiplier effect on long-term job creation.

“We can just imagine the enormous
positive socio-economic impact of developing vibrant wide spread ship building
capacity in Nigeria along with manpower training and leading to the gainful employment
in the hundreds of thousands of Nigerians.

“We should borrow a leaf from the
Philippines, in many ways comparable to Nigeria in socio economic terms. As a matter of public policy, over the years
they have developed a very robust world class merchant seamen training
programme.

“Today there are tens of
thousands, perhaps even hundreds of thousands of Pilipino merchant seamen
deployed all over the world who remit millions of dollars back to the
Philippines year in year out.”

“Water transportation is yet one
more area where our water resources can be harnessed to power industrial
development. Agricultural products rot
due to poor logistics and transportation options. With no means to move them to
the market efficiently the agricultural sector cannot compete globally. Roads are expensive to build and
maintain.

“Thanks to the present
Government, the railways are rising again but will take time. We can make use
of the water ways today; with a fraction of the investment we would need to
make into roads.”

Jadesimi also outlined the
boundless potential of a less spoken about sub-sector in maritime, which is the
maritime agro industry. This includes fishing, shrimping and industrial
processing, for local consumption and export.

He reminded members of NSC and
the captains of industry present that the opportunities before them in the
maritime sector would significantly move Nigeria forward, growing the private
and the public sector – i.e. win, win. In short with continuing government
support and real private indigenous companies investing, innovating and industrialising the maritime sector it
can add 30% to Nigeria’s GDP.

The LADOL Chairman thanked the
Right Honourable Minister of Transportation, Rotimi Chibuike Amaechi, the
Honourable Minister of State, Hajia Gbemisola Saraki, the Executive Secretary,
Shippers Council, the Chairman and Members of the Board of the Shippers Council
as well as all the hard-working management and staff of the Council.