Prominent lawyer, Aponmade tasks NiMASA, NIWA to create more awareness on maritime investment opportunities
Prominent lawyer, Aponmade , tasks NIMASA, NIWA to Create more Awareness on Maritime Investment Opportunities
By Babatunde Aremu
The Nigeria Maritime Administration and Safety Agency (NIMASA) and the National Inland Waterways Authority (NIWA) have been urged to create awareness about investment opportunities in the maritime sector.
Prominent lawyer Akeem Aponmade, Principal Counsel at A.O Aponmade & Co. In a statement issued on Thursday emphasized the need for a deliberate and well-strategized awareness campaign to bring the numerous opportunities in the maritime sector to indigenous investors.
“The Coastal and Inland Shipping Act, 2003, also known as the Cabotage Act, is a disruptive piece of legislation that can harness Nigeria’s vast maritime resources if effectively enforced. NIMASA is responsible for implementing and enforcing the Cabotage Act, which includes maintaining a vessel registry, registering vessels owned by indigenous shipping companies, and administering the Cabotage Vessel Financing Fund (CVFF)”—He said
Aponmade stressed the need for NIMASA and NIWA to provide more generous information about investment opportunities in the maritime sector to indigenous investors.
NIMASA has been working to enforce the Cabotage Act, including screening maritime institutions and accrediting those that meet global standards.
It would be recalled that NIMASA has introduced a New Cabotage Compliance Strategy to ensure strict compliance with the Cabotage Act, including replacing foreign seafarers with indigenous seafarers on cabotage vessels. The agency has also issued a three-month ultimatum for companies engaged in cabotage trade to register all vessels used in coastal and inland waters trade. NIMASA is collaborating with other agencies, such as the Nigerian Content Development and Monitoring Board (NCDMB), to ensure effective implementation of the Cabotage Act.
