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23.07.2020 Nigeria

Why Nigeria Lags Behind Greece In Maritime Investment Despite Huge Resources—Expert Explains

Why Nigeria Lags Behind Greece In Maritime Investment Despite Huge Resources—Expert Explains
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Unlike Greece, Nigeria is not taking the issue of maritime business serious and have been unable to exploit the natural advantages in the industry despite having similar opportunities, Nigeria still depends on Greece for logistics requirements in the sector.

Mr. Bem Ibrahim Garba, MD/CEO GOG Marine Ltd, noted that there are a unique situation and relationship that exists between the two seafaring nations, Nigeria and Greece amongst the committee of nations active in global trade.

According to Garba, "these two nation-states have the natural advantage of proximity to the sea, giving their indigenous people (coastal people) the natural advantage of seeking employment, trade and wealth creation from trades associated with the Sea, yet these gains only accrue to one state".

He, however, regrets that only Greece could boast of a merchant fleet of 5,628 vessels involved in various trades as in 2018, while Nigeria has a shipping industry in comatose.

Not only that, but Nigeria also has to depend on many other seafaring states including the smaller European state to meet her maritime and logistics requirements.

"This is a tale of Nigeria and Greece. Two seafaring nations with active pollution of trained seafarers, and wealthy businessmen capable of all kinds of investment in shipping", he said.

"Have you ever wondered like I have, why Nigeria has not been able to exploit the natural advantages she has within this industry?

"What is the impact of this inability on the nation’s socio-economic development?" He queried.

He used the opportunity to call on relevant authorities to encourage indigenous investors in the seafaring and maritime sectors.

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