NIMASA unveils 2019/2020 industry forecast

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The Nigerian Maritime Administration and Safety Agency (NIMASA) has presented its industry forecast for the 2019/2020 fiscal year to enable the investing public make informed decisions.

The forecast which was made public in Lagos State on Tuesday, espoused all the areas in the sector that were at latent stages and potential investment opportunities therein.

The title of the compendium is “Nigerian Maritime Industry Forecast: Harnessing the Maritime and Shipping Sector for Sustainable Growth’’.

The forecast was meant to drive the sector to its 10 per cent target revenue growth.

Dr Dakuku Peterside, the Director-General of the agency, in his remarks at the event said that the forecast which was an improvement of the 2017/2018 forecast, focused on regulatory developments in the Nigerian maritime industry.

Peterside said that emerging opportunities and challenges; and the implications to the sector were captured to assist the investing public.

“Ten per cent target is feasible; given that most variables are being taken care of in the area of infrastructure development and assets improvement in the sector.

“Human capacity development is also vigorously pursued to meet attendant industry growth in the year under focus,’’ Peterside said.

Dr Doyin Salami, a resource person for the programme, said that global events shaped investment climate in Nigeria, saying that the forecast was premised on some domestic and global outlooks.

Salami, who called for peaceful election in the country said that the outcome of the 2019 elections would to a large extent determine how investments would flow in the country.

He said that the forecast like its previous editions, would open new vista of untapped horizon in the industry with empirical insights on implementation and industry global focus