A former Director-General of the defunct National Maritime Authority (NMA); Mr John Egesi has urged the Federal Government to formulate appropriate policies to reposition the maritime industry and achieve growth in the sector.
Egesi, in an interview yesterday in Lagos, said the sector, with the right policies in place, had the potential to overtake oil as the highest revenue earner for the country.
He said: “The greatest albatross to the development of the maritime industry has been lack of policy direction by successive governments.
“That is why the industry has yet to attain its potential as a major revenue earner as is the case in maritime countries like the Philippines, Singapore and the rest.
“All that government needs to do is sit down and come up with policies and strategic plans for the growth of the sector; if that is done, the sector will witness a turn-around.”
Egesi also cautioned against arbitrary import restrictions and advised the Federal Government to boost the country’s export capacity in order to give Nigeria competitive advantage in maritime trade.
He called for lifting of the ban on foreign exchange for 41 imported items, saying the move would stimulate activities at the ports and improve revenue generation.
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