The Federal Government (FG) is losing about N793.3 trillion ($1 trillion) to dependence on foreign ship owners for the shipment of its import and export goods.
During a one-day event focused on “Ships, Ports, and the Challenges of Infrastructure, Skills Sets, and Tools,” Greg Ogbeifun, former member of the Presidential Committee of Fleet Expansion and current CEO of Starz Marine and Engineering Ltd, shared insights.
Ogbeifun, serving as the Chairman of the occasion, highlighted that the annual revenue loss is on the rise. He specified that the estimated loss in 2011 amounted to approximately $500 million.
Acknowledging President Bola Tinubu for the initiatives undertaken, such as the establishment of the Marine and Blue Economy, he urged the President to take additional measures. Specifically, he called on Tinubu to ensure that Nigeria acquires ships through the private sector, aiming to put an end to the ongoing revenue loss.
He stated: “If I am to just assert the guess, this country is losing close to a trillion dollars in the entire shipping sector both infrastructure, human capacity, cargo carriage.”
He asserted that the establishment of private platforms would contribute to revitalizing the sector and securing its sustained operation.
He noted: “If we get established platforms for the policies of the new Ministry of Marine and Blue Economy, that ministry can get ahead of others and that is what has called me out back into active Maritime activities.”
“These are the areas the government must come in and address and there will be proliferation of different fleets and carrying different cargoes.’’