05
Dec
Nigeria's maritime sector has undergone significant reforms, but the impact on local content development remains a concern. The sector's contribution to the economy is substantial, accounting for 16% of GDP in 2023. However, indigenous players are being excluded from major activities, with foreigners dominating the scene. Experts argue that a deliberate policy is needed to promote indigenous participation in the sector. The Nigerian Content Development and Monitoring Board (NCDMB) has been successful in increasing local content participation in the oil and gas sector, but a similar approach is needed in the maritime sector. The Cabotage Act, enacted in 2003, aims…
