AfCFTA success dependent on ship ownership, port facilities, market forces – Master Mariners

By onepageafrica Last updated Nov 9, 2024

L-R: Capt. Femi Oyewole; President, Nigeria Association of Masters Mariners (NAMM), Capt. Tajudeen Alao; Secretary General of Abuja MoU, Capt. Sunday Umoren, and Capt. Oyinnem Iwebuke, during the 3rd quarter paper presentation at Nigerian Association of Master Mariners (NAMM) Secretariat in Apapa, Lagos

Master mariners have observed that the success of the African Continental Free Trade Area (AfCFTA) agreement would be dependent on ship ownership, port facilities as well as demand and supply market forces.

This was highlighted at the Nigerian Association of Master Mariners (NAMM) 3rd Quarterly paper presentation at its Secretariat in Apapa, Lagos on Saturday.

Speaking on the subject matter, the Secretary General of the Memorandum of Understanding on Port State Control for West and Central African Region (Abuja MoU), Capt. Sunday Umoren, stated that Africa should be poised to make the best of the opportunities offered by AfCTA.

“The United Nations Economic Commission for Africa projects would double the maritime freight from the current 58 to 131.5 million tons. The time is now and African Union and other RECs need to be serious with maritime development by creating maritime desk and playing multifaceted roles like the EU for clear roadmaps with timelines and set millstones,” he said.

Umoren assured that the Abuja MoU Secretariat would continue to work with all relevant stakeholders, empower maritime administrations and Port Authorities to grow the maritime industry to optimize AfCFTA trade.

“Enormous investment in transport equipment and infrastructure will be required, including 100 more vessels, if the AfCFTA is fully implemented. The investments expected due to the AfCFTA also provide an avenue for a green economic recovery in Africa.

“I want to commend Association of Master Mariners and observers, present as well as other government and private sector stakeholders in their role in promoting trade and investment in Africa,” he added.

Earlier, the President of NAMM, Capt. Tajudeen Alao, welcomed the participants as he reiterated the nation’s opportunities with AfCFTA agreement expected to increase intra-African freight by 28% and demand for maritime freight by 62%.

He noted that a significant increase in traffic flows is expected across all transport modes throughout Africa in the coming years.