News

May 10, 2017

Nigeria’s maritime industry, gold mine for investors – Peterside

Dakuku Peterside

Peterside Dakuku

By Gbenga Oke

Director-General of Nigerian Maritime Administration and Safety Agency, NIMASA, Dr. Dakuku Peterside, has described the Nigerian maritime industry as  a gold mine that sincere investors must take advantage of, for maximum profit.

Peterside Dakuku

Peterside, who was speaking with foreign investors during an event at the Offshore Technology Conference, OTC, in Houston Texas, assured various investors that the Nigerian Government was doing everything to ease the ways of doing business in Nigeria, especially in the maritime sector.

According to a statement by NIMASA’s Head of Corporate Communications, Mr Isichei Osamgbi, the Director General said that the administration of President Muhammadu Buhari was committed to ensuring drastic reduction in bureaucratic red tapes impeding investment in the country.

His words: “We will ensure that we provide the basket of incentives to ensure that you get into the industry, maximize the opportunities in the industry for the benefit of both Nigerians and the investors.You will recall that the Federal Government of Nigeria, through the Federal Ministry of Transportation, is trying to refloat the national fleet. The difference now is that the private sector will drive the process while government will serve as facilitator. That is the way we have chosen to address the issue of national fleet ownership.

“The commitment of President Buhari’s administration to ensure a drastic reduction in bureaucratic red tapes impeding investment in the country sees the Vice President, Professor Yemi Osibajo, coordinating the ease of doing business.”

Initiative project and the presidential enabling business environment council has approved a national action plan to be implemented across priority areas which will enhance entry and exit of goods and services to spur inflow of foreign investment into Nigeria.

“Nigeria allows income tax exemptions for infrastructural development in ship building and there are financial incentives for ship building and ship scrapping with assurance of foreign repatriation of capital and profit.

On his part, the Chairman, Senate Committee on Marine Transport, Senator Sani Yerima, assured that the legislature is committed to providing the legislative framework to enhance foreign investment in Nigeria.

Particularly in the maritime sector while the position was re-emphasized by the Chairman House Committee on Maritime Safety, Education and Administration, Honorable Mohammed Umaru Bago.