BY UDEMEÂ CLEMENT
Nigeriaâ€™s domestic shipping sector contributes a meagre 0.05 percent to the nationâ€™s Gross Domestic Product (GDP) whereas a country like Greece gives significant contribution of about 4.5 per cent to its economy from the shipping sector; employing 4 per cent of that countryâ€™s workforceâ€.
These were the words of the Chief Executive Officer, Ships and Ports Communications, Mr. Bolaji Akinola, at the inauguration of N100million investment club, held recently in Lagos .
According to him, the shipping industry contributes about Â£5 billion to the United Kingdom â€™s GDP and provides direct employment to over 40,000 shipping jobs with a little less than one per cent contribution to that countryâ€™s GDP.
He stressed that Nigerians must fully participate in the shipping business as the sector is the engine of the global economy. â€œThe presence of a strong domestic shipping industry is an important factor in growing Nigeria â€™s economyâ€, he said.