The Nigerian Maritime Administration and Safety Agency (NIMASA) and the Infrastructure Concession Regulatory Commission (ICRC) are teaming up to revolutionize the country’s maritime sector through Public-Private Partnerships (PPPs).
This strategic collaboration aims to bridge the infrastructure gap in the industry, leveraging private sector expertise and funding [1).
Key Objectives:
• Attract Private Investors: Develop PPP-based business models to draw in private investors from within and outside Nigeria.
• Streamline Processes: Utilize technology to enhance efficiency and service delivery.
• Accelerate Growth: Unlock increased funding and expertise to propel the maritime sector’s growth.
Dr. Dayo Mobereola, NIMASA’s Director General, emphasized the importance of ICRC’s involvement in developing infrastructure capacity. He noted that government funds alone cannot support the capital-intensive maritime sector.
ICRC’s Director General, Dr. Jobson Oseodion Ewalefoh, echoed this sentiment, highlighting the sector’s significance to Nigeria’s economy. He stressed the need for timely execution and creating an enabling environment for activities to thrive .
Previous Successes:
The ICRC has previously approved three PPP projects for NIMASA, targeting $1.1 billion in revenue. These projects include the Eastern Offshore Waste Reception Facility, Central/Western Offshore Waste Reception Facility, and a Floating Dry Dock .
This partnership is poised to transform Nigeria’s maritime landscape, driving economic growth and development through innovative collaboration.
