NIMASA Targets Shipbuilding Growth to Boost Blue Economy and Halt Capital Flight

The Nigerian Maritime Administration and Safety Agency (NIMASA) has reaffirmed its strategic commitment to revitalizing the domestic shipbuilding and shipyard sector.

This initiative is a central pillar of the agency’s broader agenda to deepen Nigeria’s blue economy and minimize the significant capital flight associated with foreign vessel procurement and maintenance.

The commitment was articulated during a stakeholders’ breakfast meeting held at the Nigerian Maritime Resource Development Centre (NMRDC) in Kirikiri, Lagos, themed Dissecting the Issues, Challenges, and Prospects in the Shipbuilding Segment. The forum focused on establishing robust funding models, incentives, and policy frameworks to accelerate shipyard productivity.

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In the welcome address delivered on behalf of the Executive Director of Operations, Fatai Taiye Adeyemi, by Dr. Oma Offodile, the agency described shipbuilding as a strategic pillar for Nigeria.

Adeyemi emphasized that because the sector is capital-intensive and technically demanding, it requires deliberate state intervention to move from a cyclical struggle to sustainable growth.

The agency highlighted that modern shipyards are essential for constructing energy-efficient vessels that comply with International Maritime Organization (IMO) standards, supporting offshore energy assets, and ensuring resilient supply chains. Strengthening local shipyards is expected to curb capital flight, create thousands of jobs, and sustain Nigeria’s recent return to Category C of the IMO Council.

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The meeting served as a diagnostic session for the challenges currently stifling the industry. NIMASA identified several key barriers including high capital expenditure requirements, restricted access to long-term financing, and underinvestment in automation and green technologies.

Other significant hurdles mentioned were a deficit of specialized technical skills and policy volatility that discourages long-term private investment. Adeyemi explained that global developments such as maritime decarbonization and geopolitical concerns have reshaped the landscape, making a strong domestic capacity more critical than ever for defense and maritime assets.

NIMASA underscored that through continued stakeholder engagement, the agency is working to design pragmatic funding models potentially involving public-private partnerships or specialized maritime funds to provide the industry with the liquidity it needs.

By positioning Nigerian shipyards as competitive entities, the agency aims to transform the country into a regional hub for vessel construction and repair. The ultimate goal is to address structural constraints and build local capacity so that Nigerian shipyards can compete sustainably while supporting job creation and the overall blue economy matrix.