NIMASA Targets $8bn Maritime Component of Oil and Gas Industry To establish marine development bank
As part of the measures to enhance its revenue drive, the Nigerian Maritime Administration and Safety Agency (NIMASA) will focus its attention on the $8 billion (N2.88 trillion) maritime component of the Oil and Gas sector in 2018, the Director General of NIMASA, Dr. Dakuku Peterside has said.
Dakuku stated this on Tuesday while unveiling the 2018/2019 maritime industry forecast , the first time in the history of the industry a forecast to reposition the sector was being showcased.
He disclosed that five bills amongst others, affecting the maritime industry will enter into force in 2018, one of which is a bill for the establishment of the Nigerian Marine Development Bank.
The other bills currently undergoing legislative processes at the National Assembly are: the Anti-Piracy Bill, Inland Fisheries Act (Amendment) Bill 2017, the Deep Offshore and Inland Basin Production Sharing Contract (Amendment) Bill 2016 and the Carbotage Act (Amendment) Bill 2017.
He said the Nigerian maritime industry was projected to grow by 2.5 – 5 per cent within the period of 2018-2019, further adding that there will be a projected increase in demand for maritime services in Nigeria during the period.
Peterside stated that Nigerians should expect total fleet size to grow by 4.08 per cent in 2018 and 4.41 per cent in 2019.
He projected that 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 and 0 per cent in 2019, “he said.
He added that two broad dynamics would drive the outlook on the Nigerian maritime industry in 2018 revealing that the first pertains to international developments as they relate to growth in global output and trade.
The second, he added, is the domestic economic conditions, which speak to economic growth and the