Nigeria Loses N3trn Annually To Policy Inconsistency


Nigeria may be losing about N3 trillion annually due to frequent changes of  leadership at the nation’s apex maritime regulatory body, the Nigerian Maritime  Administration and Safety Agency (NIMASA), according to the Indigenous Shipowners  Association of Nigeria (ISAN).

ISAN disclosed this through its Chairman, Chief Isaac Jolapamo, at a press briefing  last Tuesday, adding that instability in the management of the agency has resulted  in huge capital flight for the nation.

Comparing the management of NIMASA with those of the Nigerian Civil Aviation  Authority (NCAA), Central Bank of Nigeria (CBN), Security and Exchange Commission  (SEC), and National Agency for Food Drug Administration and Control (NAFDAC),  Jolapamo tasked government on the need to allow the current leadership of NIMASA  time to plan and execute good developmental programmes for the Nigerian maritime  industry.

“The country is losing over N3 trillion as capital flight because we have not  allowed the maritime industry to develop. This is what the Nigerian Shipping Act  2007, The Cabotage Act 2003 and the Nigerian Oil and Gas Industry Content  Development Act 2010 are out to arrest. You need a focused and purposeful leadership  of NIMASA to ensure compliance with these laws” Jolapamo said.

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The ISAN boss added that the stunted development in the maritime industry is not  unconnected with frequent leadership changes at the Maritime House.

“NCCA was able to record growth and development in the aviation industry leading to  Nigeria airports to be in the ‘White List’ of ICAO due to stability in the  leadership and non-interference by the government.

The same goes for NAFDAC, SEC, CBN and a host of others” Jolapamo said.

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