Investment windows open in Nigerian maritime industry, Amaechi told foreign investors

Rotimi Amaechi, Minister of Transport, called on foreign investors to invest in critical areas of Nigeria’s maritime industry, adding that investment windows are currently open.

Eric Ojiekwe, its press and public relations manager, said in a statement on Tuesday.

The statement added that Amaechi disclosed it in his presentation titled “Investment Opportunities in Nigeria’s Maritime Sector” at the 2021 Greek-Nigerian Chamber of Commerce and Technology Investment Summit in Athens, Greece.

The minister also described seven areas in which investment opportunities were currently available to investors.

“The competitiveness of Nigeria’s maritime sector compared to global and continental contemporaries is relatively low. Therefore, the maritime industry in Nigeria is fertile ground for any investor to venture into, ”he said.

“You may want to know that investment windows are open in the Nigerian maritime industry.

“These investment opportunities include automation and artificial intelligence in the maritime industry.

“Maritime freight and logistics services, maritime tourism, maritime training, ship financing, ship construction and repair and marine insurance. “

According to the minister, the country’s abundant water resources would contribute significantly to economic growth.

“Nigeria’s oceans, seas, rivers, lakes and coves represent major assets that will accelerate the country’s economic development,” Amaechi said.

“With these resources, Nigeria is an investment destination and as the most populous black nation. Nigeria also uses this avenue to appeal to foreign investors in the country.

“Nigeria’s tourism potential is huge and capable of contributing to the GDP.

He added that Nigeria has formulated policies that have had a positive impact on the nation, one of which is the ongoing efforts to establish the Regional Maritime Development Bank, headquartered in Abuja.

He recalled that the maritime industry was open to investors who would develop the capacities of professionals in the aforementioned aspects of maritime services.

“Forecasts from Nigeria’s maritime industry indicate that government intervention in the sector is essential to find the necessary financing to unlock the acquisition of these maritime assets,” he added.

“However, potential investors are encouraged to come up with affordable financing models for vessel owners and operators.

“Funding remains essential for the improvement as well as the promotion of the growth of the maritime transport activities and the creation of value for the company.”