NIMASA seeks ship yard revival to halt capital flight

Delivering the welcome address as Chairman of the occasion, the Executive Director, Operations, NIMASA, Engr. Fatai Taiye Adeyemi, said the meeting was convened to take a hard look at the structural challenges holding back shipyard development and to chart a realistic path forward for the industry.

Adeyemi, who was represented by the Director, Marine Environment Management, Dr. Oma Offodile, said: “Shipbuilding is a strategic pillar of Nigeria’s maritime and blue economy aspirations. It is capital-intensive, technically demanding and highly competitive, which is why deliberate funding models, targeted incentives and consistent policies are critical.

“Through engagements like these, NIMASA is working with industry stakeholders to address structural constraints, build local capacity, curb capital flight and position Nigerian shipyards to compete sustainably, while supporting decarbonisation, job creation and our obligations at the International Maritime Organisation.”

He explained that global shifts such as maritime decarbonisation, fuel transition, supply chain disruptions and geopolitical tensions have reshaped the global shipbuilding landscape, making strong domestic capacity more important than ever for shipping, offshore energy, defence and other critical maritime needs.

According to Adeyemi, the Nigerian shipbuilding segment continues to grapple with restricted access to capital driven by high capital expenditure and cyclical revenues, a shortage of skilled manpower, underinvestment in automation and green technologies, limited scale to compete globally, as well as policy inconsistency and procurement uncertainty.

He further noted that shipyards are central to meeting global decarbonisation targets, as they are responsible for building energy-efficient vessels that comply with International Maritime Organisation (IMO) standards. Sustaining Nigeria’s recent return to Category C of the IMO Council, he said, depends partly on a vibrant and competitive shipbuilding industry.

“A strong shipbuilding industry is not only critical to decarbonisation, but also to job creation and the overall blue economy matrix,” Adeyemi added.

In his keynote address, the Managing Director of Starz Marine Limited, Engr. Greg Ogbeifun, commended the Federal Government for establishing the Ministry of Marine and Blue Economy, describing it as a strategic move capable of unlocking the sector’s long-term potential.

Ogbeifun called for deliberate and sustained government support for shipyard operators, noting that enhanced access to funding, stable policies and targeted incentives are essential to improving capacity, competitiveness and investor confidence in the industry.

Earlier, shipyard owners who delivered goodwill messages expressed readiness to collaborate with NIMASA to reduce capital flight and build indigenous capacity. They stressed that skills development, policy stability and targeted support would be critical for Nigerian shipyards to compete effectively both regionally and globally.

By the end of the meeting, stakeholders voiced strong support for NIMASA’s renewed drive to deepen local shipbuilding capacity. There was broad consensus on the need for coordinated funding mechanisms, incentives and policy consistency to tackle the sector’s short-, medium- and long-term challenges.

NIMASA said its focus on shipyard development aligns with the NIMASA Act, 2007, which mandates the agency to promote maritime safety, shipping development and capacity building within Nigeria’s maritime industry. Supporting indigenous shipbuilding, shipyard operations and related infrastructure, the agency noted, remains central to its statutory role in driving sustainable maritime growth and advancing the country’s blue economy objectives.