LAGOS – By Victoria Hanson The Group Executive Vice Chairman, Sifax group Dr, Taiwo Afolabi has urged the federal government to make good use of the current economic challenges that have seen a sharp decline in crude oil earnings and naira exchange rate by paying more attention to the development of the country’s maritime sector.
Speaking at the maiden edition of the Taiwo Afolabi Annual Maritime Conference held at the University Of Lagos with the theme “Africa’s Maritime Capital :Nigeria And Her Potentials, Afolabi said that maritime industry possessed the potentials to rescue the country from the current economic troubles by becoming the primary source of revenue for the government.
He said the current situation has compelled the need for an inclusive search for an attempt route to national revival and rebirth, forcing upon us a movement away from decades of fixation on the traditional black gold to the maritime, the emerging glittering blue gold diligent and sustained exploitation of the vast maritime resource endowments of this sector may prove to be that very low hanging fruit that Nigeria needs at a time such as we are today ”
To turn the potentials in the industry to tangible economic benefits, he called on the government to provide the conducive environment propound the right legislature and provide massive infrastructural renewal amongst others.
The managing Director Of Lagos Deep Sea Offshore Logistics Base (LADOL) Dr. Amy Jadesimi said that the operators in the maritime industry have to show tenacity in making a difference in view of the mounting challenges they faced.
While using her company as a case study, Jadesimi said over 500 million dollars investments have been made in both the first and second phases of its operations despite the plethora of obstacles that have been erected on its path.
She disclosed that massive investment in the industry by the private operators is one of the key game changing strategies to take full advantage of the industry’s abundant opportunities.
With such deep investment like LADOL has made, the MD noted that Nigeria can begin to change the world business model in favour of Nigeria and thereby grow our country to become a giant in the maritime world.
