Maritime nations need finance to develop fossil fuel – IMO Sec. Gen

Lagos -- Mr Kitack Lim, the Secretary-General, International Maritime Organization, IMO, says maritime nations need finance to invest in fossil fuels.

Lim said this at the 2022 Nigerian International Maritime Summit in Lagos, noting that, that would help reduce carbon footprint in the environment.

Lim stressed the need for a market-based measure to be adopted to help generate funds used for technology development of fossil fuels.

“Decarbonisation is one of the challenges of our time owing to the fact that climate change has started having its impact on developing nations.

“Decarbonisation and automation are critical to shaping the future, and IMO has set the target of cutting down emissions by at least 40 per cent by 2030 and 70 per cent by 2050 across international shipping,” he said.

He said that IMO would partner the Nigerian government to achieve port community system for the west and central Africa region.

Lim said that IMO would support Nigeria’s maritime industry to achieve cleaner oceans and greener shipping system.

He commended the Nigerian Navy and Nigerian Maritime Administration and Safety Agency (NIMASA) for effectively collaborating with local, regional and international

Cargo ship

Lpartners to achieve success in the war against piracy.

Nigeria’s Minister of Transportation, Mr Mu’azu Sambo, while declaring the summit open, noted that finance was a critical driver for unlocking the potential of the blue economy in Africa and in particular Nigeria.

agos – The Nigerian Maritime Law Association, NMLA, says Nigeria needs to work ahead of 2028 adoption of the use of autonomous vessel convention to adopt growing changes in the shipping industry.

Autonomous cargo ships, also known as autonomous container ships or maritime autonomous surface ships, MASS, are crewless vessels that transport either containers or bulk cargo over navigable waters with little

Mr Kitack Lim