TAAM 5.0: Industry Keyplayers Xrays Sector

Dr. Taiwo Afolabi, Chairman, Sifax  Group

TAAM 5.0: Industry Keyplayers Xrays Sector

As Nigeria is transitioning to a non-oil dependent economy, attention needs to be shifted towards other critical sectors, especially the maritime industry -  D. Afolabi Taiwo


The Chairman,  SIFAX Group, Dr. Taiwo Afolabi, at the  Taiwo Afolabi Annual Maritime Conference said there are several challenges bedeviling the maritime industry which includes; infrastructural deficit, foreign exchange bottleneck, insecurity on our waterways, low level of technology adoption and deployment as well as inconsistent policies, among others, 


The theme of this year’s conference is titled “The Maritime Roadmap Project: Making Nigeria A Leading Maritime Nation In The World.” was held at the University of Lagos, UNILAG.

Dr. Afolabi Taiwo ably represented by the Managing Director of Skye Capital, Mr. Bode Ojeniyi said at this conference innovative ideas that will bring solutions to the issues confronting maritime industry are xrayed. 

Dr. Afolabi said that "these issues have largely limited the ability of the sector to contribute significantly to the country’s Gross Domestic Product (GDP).if well harnessed, the maritime industry has the potential to become a major revenue earner for the country, particularly with the declining oil revenue'. He stated.

"The TAAM Conference is a maritime summit organised by the Maritime Forum of UNILAG’s Law Faculty in partnership with the SIFAX Group and serves as a platform where key maritime issues that border on the sector’s sustainable growth are discussed, while also stimulating the interests of university students in the industry. 

Dr. Afolabi warned maritime industry keyplayers not to lose focus because the non-oil sector is increasingly becoming the mainstay of the country's economy.

He further stressed that it is time to focus on non-oil reliance Industry 'We have funded our national budget in the last few years majorly without proceeds from oil but from other sectors. The day of our over reliance on oil is behind us now and it is about time we focus on transitioning from an oils dependent economy to non-oil reliance. The maritime sector will play a crucial role in this economic transitioning if more attention is committed to the industry'

The former Director-General of Nigerian Maritime Administration and Safety Agency, NIMASA, Dr. Temisan Omatseye in his remarks  said Nigeria should develop more deepsea ports,  bring  the national shipping line back, and set up a ship repair dockyard.

"I believe that Nigeria should develop more deep ports which is already ongoing at the moment, we need to ensure the set up of a national shipping line which would set as the bedrock for the return of the old glory days.

“Nigerian shipowners should be given the criteria to register as a national carrier in line with section 35 of the NIMASA Act, so as to allow them take advantage of the law which allows them to carry State, Local Government cargoes both liquid and bulk.

The Senior Partner, Akabogu & Associates, in his contribution said Nigeria is backwards in area of freight forwarding because of bad blood among them.

"The freight forwarding associations have done a lot of dis-service to the Nigerian Maritime industry as a result of continued bad blood amongst themselves”.


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