As Nigeria commemorates its 64th anniversary, maritime operators in the country are urging the Federal Government to address the challenges posed by fluctuating exchange rates to enhance importation processes. The maritime sector has witnessed significant growth over recent years, highlighting its importance to the national economy. However, stakeholders note that fiscal policies, particularly those centered around fluctuating dollar rates, continue to hinder the industry’s potential. Sikiru Remilekun, the Youth Leader of the Tincan Island Chapter of the Association of Nigerian Licensed Customs Agents, emphasized that while growth has been notable, the complexities of current fiscal policies remain a substantial hurdle for the sector.
Remilekun proposed that pegging the exchange rate for cargo clearance at less than N1,000 to a dollar could stimulate an impressive growth of over 200% within the maritime industry. He argued that stabilizing the dollar rate would enhance both import and export activities, which have been stifled by the current economic climate. The issues of bureaucracy and the need for capacity building within the sector were also raised as factors impeding further progress. The call for an improved regulatory environment reflects a broader desire for policies that favor growth and facilitate smoother operations in maritime trade.
In addition to exchange rate considerations, safety and environmental concerns within the maritime industry were highlighted by Williams Ogunshakin, a ship captain and South-West Director of the Merchant Seafarers Association of Nigeria. He stressed the need for governmental support for the Marine Pollution (MARPOL) initiative, suggesting the establishment of a management authority similar to the Lagos Waste Management Authority but focused on waterway cleanliness across the country. Ogunshakin pointed out that many maritime accidents result from debris and other waste carelessly discarded into water bodies, underscoring the importance of clean waterways for safe navigation.
Ogunshakin’s emphasis on accident prevention reflects an urgent need for improved safety measures within the maritime sector. He noted that for several years, security on Nigeria’s waterways has deteriorated, with navigational safety becoming increasingly compromised. However, he acknowledged recent improvements thanks to proactive measures from industry stakeholders in collaboration with military agencies. The combined effort has resulted in enhanced security measures, leading to a more stable and safer maritime environment, which is crucial for both local and international maritime operations.
Furthermore, the stakeholders’ consistent calls for government engagement underscore the critical role that policy reforms can play in advancing the maritime sector’s capabilities. By establishing policies that account for the unique challenges faced by the industry and addressing infrastructural concerns, the government has the potential to create a more conducive environment for growth. Realigning fiscal policies and enhancing safety protocols can ultimately lead to a more robust maritime sector that significantly contributes to the nation’s economy.
Overall, as Nigeria marks its anniversary, the reflections from maritime operators serve as a catalyst for critical discussions on the sector’s future. Addressing the challenges posed by fluctuating exchange rates, improving safety regulations, and fostering capacity building will be essential for unlocking the full potential of the maritime sector. A collaborative approach between stakeholders and the government could ensure both the growth of this vital industry and the enhancement of national economic stability in the years to come.
