NIMASA seeks FDI, woos American investors to maritime sector

Dakuku Peterside, the director general of the Nigerian Maritime Administration and Safety Agency (NIMASA) has told businessmen in the United States of America that Nigeria’s maritime industry holds untapped opportunities for genuine investors to maximize profit.

Speaking at a session tagged, “Sub-Saharan African Oil & Gas Networking session,” held at the just concluded Offshore Technology Conference (OTC) in Houston Texas, Peterside said to the potential investors, that the Federal Government has set up a committee known as the Presidential Enabling Business Environment Council (PEBEC) – chaired by the Vice President Yemi Osinbajo, and saddled with the responsibility of attaining ease of doing business in Nigeria, particularly in the maritime sector.

According to him, the Ease of Doing Business Initiative is beginning to yield fruits particularly in the maritime sector as red tapes and bottlenecks in doing business at the ports, which hitherto militated against investment in the sector, have started disappearing.

The Vice President Committee, he said, has approved a national action plan to be implemented across priority areas to enhance entry and exit of goods and services at the seaports and spur inflow of foreign investment into Nigeria.
“Nigeria allows income tax exemptions for infrastructural development in ship building. Also, there are financial incentives for investors in ship building and ship scrapping with assurance of foreign repatriation of capital and profit,” he said.

“We ensure that we provide the basket of incentives to ensure that you get into the industry, maximise the opportunities in the industry for the benefit of both Nigerians and the investors.
One of the such areas for investment, according to the NIMASA DG, is in national shipping line as the Federal Government is currently working to refloat a national fleet for the country, which process will be private sector driven.

“The Federal Government 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,” Peterside added.

Responding, Brent Omdahl, a senior commercial officer with the American embassy in Nigeria said that the Donald Trump administration is committed to improve on the trade relations between the United States and Sub Saharan Africa by encouraging more American companies to invest in the region.

He said they have the mandate to have American investors explore available opportunities in both the Africa’s oil & gas, and the maritime sectors. He said the commercial department of the United States embassy has the mandate of facilitating seamless platform for American investors to interact with policy makers, and implementers in sub-Sahara Africa.

Sani Yerima, chairman, Senate Committee on Marine Transport assured investors that the legislature is committed to providing the legislative framework to enhance foreign investment in Nigeria.