NIMASA forecasts 5% growth for maritime sector …Says total fleet size to grow by 4.08% in 2018 …Forecast is first of its kind in Nigeria’s maritime industry …Usoro lauds Dakuku for initiative

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NIMASA forecasts 5% growth for maritime sector  ‘1’

.Says total fleet size to grow by 4.08% in 2018

.Forecast is first of its kind in Nigeria’s maritime industry

.Usoro lauds Dakuku for initiative

DG of NIMASA, Dr. Dakuku Peterside right, and the Board Chairman of the Agency, Major General, Jonathan Garba (rtd.) while unveiling the maritime industry forecast 2018-2019 at Eko Hotel, Lagos:

 By Udeme Clement

The Nigerian maritime industry is poised for greater development, as the sector is projected to grow by 2.5 – 5 per cent in   2018-2019, even as the forecast analysis indicated increase in demand for maritime services in Nigeria during the period in focus.

The maritime industry forecast for 2018 and 2019 described by stakeholders as timely and the first of its kind in the history of Nigerian maritime, was unveiled by the Director General, Nigerian Maritime Administration and Safety Agency ,NIMASA, Dr Dakuku Peterside.

Giving the forecast analysis while unveiling the document before a large audience of stakeholders and major players in the maritime industry, at Eko Hotel, Lagos, Dakuku said Nigerians should expect total fleet size to grow by 4.08 per cent in 2018 and 4.41 per cent in 2019.

He analysed, «The oil tanker fleet size will decrease by 2.23 per cent in 2018 and increase by 1.7 per cent in 2019. The non-oil tanker fleet size is projected to increase by 8.15 per cent in 2018 and 8.72 per cent in 2019, while the oil rig count is projected to increase by 27.67 per cent in 2018 ».

His words, «The forecast, which is already on NIMASA’s website will serve as a guide for potential investors as well as international stakeholders desiring to do business in Nigeria’s maritime industry. Our goal is to achieve increased growth and to make our maritime industry operate in line with global perspective».

«The forecast will have impact on local and international trade.  Therefore, we must take advantage of the opportunities that will emerge from it. The skill gap is huge and has opportunities to create jobs for Nigerians. We should invest more in areas like the blue economy, maritime research and development».

«We are working assiduously to turn the sector around for greater productivity. At present, we have some Bills such as Anti-Piracy Bill, the establishment of Maritime Development Bank, Inland Fisheries Amendment Bill, Deep Offshore and Inland Basin Production Sharing Contract Amendment Bill as well as the Cabotage Act Amendment Bill,  at the National Assembly. When these Bills are passed to law, our maritime industry will enhance greater economic growth and development».

«The sector plays a strategic role in distribution and export of Nigeria’s resources, with a total annual freight cost of  between $5 and $6 billion annually. The maritime component of our oil/Gas industry is estimated at $8 billion, which clearly shows the importance of maritime industry to  Nigerian economy as a whole.»

In the same vein, the former Director General of NIMASA, Mrs. Mfon Usoro, while giving a good will message commended Dr. Dakuku and his management team for the forecast, stressing that the forecast is a laudable initiative, which shows hard work, commitment and foresight on the part of Dakuku and his team.

She said, «I commend NIMASA for innovation and its increased activities in the maritime sector. This shows that NIMASA aims at improving not only the maritime sector but the economy of Nigeria.»

Moreso, some stakeholders at the event who spoke with Financial Business described the forecast as timely and the first of its kind in the history of maritime development in Nigeria.


NIMASA DG unveils Maritime Industry forecast 2018, 2019  ’11’

Says Maritime sector to record robust growth

By NIMASA DG (Dr. Dakuku Peterside)

“I feel very honoured and delighted to welcome you all here today and thank you specially for honouring our invitation to be part of the public presentation of Nigeria’s Maritime Industry forecast by NIMASA”, he said.

He went on, “This event coincides with the release today of the Country’s GDP growth figures in 2017 by the National Bureau of Statistics ,NBS, confirming Nigeria’s exit from recession, a positive indicator that Nigeria’s economy is rebound for growth in 2018 and beyond”.

He enthused, “This is our first attempt at presenting a Nigerian Maritime Industry forecast and a fulfillment of our promise at the end of 2017, to publish not later than Q1 2018, the Outlook and Forecast for the Nigerian Maritime Sector covering 2018 and 2019. The Outlook publication  include:


  • A Review of developments in the Nigerian Maritime Industry in 2017;
  • Expected International and Local developments in Policy and Regulatory Environment for the Maritime Sector in 2018 and 2019;
  • Emerging Opportunities and Challenges – Implications for the Maritime Industry”.

He explained, “Whilst the Oil Sector remains one of the pillars of the Nigerian Economy and is a catalyst for measuring our economic growth, the success dependent on the Maritime Sector, which continues to play a strategic role in the Economy of the Country.

He added, “A number of factors contributed to the gradual growth that we have recorded, such as the receding crime in the Niger Delta region; the Deep Blue Scale Up of our Maritime Security Architecture is addressing the immediate challenges in this area and aimed at suppressing the emerging threats on our waters”.

He pointed out, “Government’s commitment through initiatives such as the Presidential Order on Ease of Doing Business continues to yield positive results in our Ports. The on-going Infrastructure reforms in the transport sector are all indicators that we are walking in the right direction”.

He emphasized, “As  Regulators, we are driven by Values and Commitment, as these are the only ways that Investors can be attracted to harness the great potentials in our Maritime Sector. We will continue to work out incentives and maritime sector specific interventions to attract investment”.



‘These stories make up the first segment of NIMASA’s forecast for 2018-2019.  More reports on ‘The Committee on Review of Ship Registration’and the Speech of Transport Minister’ will be published on our mid-day news’.

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