Former Minister of Interior and prominent shipowner, Captain Emmanuel Ihenacho, has emphasized the pivotal role of Nigeria\u2019s maritime sector in harnessing the vast opportunities presented by the African Continental Free Trade Area (AfCFTA).<\/p>\n
Speaking at the launch of the Maritime Reporters Association of Nigeria (MARAN) publication, \u201cFifty Drivers of the Nigerian Maritime and Blue Economy,\u201d Ihenacho described AfCFTA as a transformative framework capable of propelling Nigeria\u2019s economic growth\u2014if the country strategically leverages its maritime assets.<\/p>\n
According to him, the maritime and blue economy is central to AfCFTA\u2019s success, as shipping remains the primary mode for moving goods across borders in Africa. He noted that a unified continental market of **1.3 billion people** and a combined GDP of **$3.4 trillion** places Nigeria in a position to significantly expand its trade influence\u2014if it leverages its maritime capacity effectively.<\/p>\n
He traced the evolution of the maritime sector over the years, citing foundational milestones such as the establishment of the National Shipping Line (NNSL) in 1959, the National Maritime Authority (NMA) in 1988, and the Nigerian Maritime Administration and Safety Agency (NIMASA) in 2007. He also highlighted the Cabotage Law as a critical step in strengthening indigenous participation.<\/p>\n
However, he noted that newer global and regional frameworks\u2014especially AfCFTA and China\u2019s Maritime Silk Road (MSR)\u2014have created wider avenues for Nigeria to improve logistics systems, transportation corridors and port infrastructure.<\/p>\n
\u201cAfcFTA\u2019s agenda of tariff elimination, reduced non-tariff barriers, and enhanced intra-African trade aligns perfectly with Nigeria\u2019s maritime aspirations,\u201d Ihenacho said. He added that the agreement presents extensive opportunities for shipowners, logistics operators, exporters, and service providers across the blue economy.<\/p>\n
\u201cThe stupendous opportunities that would be created through AfCFTA will allow various maritime and blue economy businesses to grow, either directly or through linked multiplier effects,\u201d he noted.<\/p>\n
Despite the potential, Ihenacho warned that capacity constraints could undermine Nigeria\u2019s competitiveness under AfCFTA. He listed inadequate port infrastructure, bureaucratic inefficiencies, maritime insecurity, and gaps in technical skills as challenges that must be urgently addressed.<\/p>\n
\u201cWith the right policies and investments, AfCFTA can drive Nigeria\u2019s economic growth, job creation and deeper regional integration,\u201d he said.<\/p>\n
He called for sustained innovation, collaboration and strategic planning, urging stakeholders to contribute to solutions that will position Nigeria more competitively within continental and global value chains.<\/p>\n","protected":false},"excerpt":{"rendered":"
Former Minister of Interior and prominent shipowner, Captain Emmanuel Ihenacho, has emphasized the pivotal role of Nigeria\u2019s maritime sector in harnessing the vast opportunities presented by the African Continental Free Trade Area (AfCFTA). Speaking at the launch of the Maritime Reporters Association of Nigeria (MARAN) publication, \u201cFifty Drivers of the Nigerian Maritime and Blue Economy,\u201d […]<\/p>\n","protected":false},"author":2,"featured_media":9150,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"class_list":["post-9149","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-maritime-stories"],"_links":{"self":[{"href":"https:\/\/peoplesforumonline.com.ng\/about\/wp-json\/wp\/v2\/posts\/9149","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/peoplesforumonline.com.ng\/about\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/peoplesforumonline.com.ng\/about\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/peoplesforumonline.com.ng\/about\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/peoplesforumonline.com.ng\/about\/wp-json\/wp\/v2\/comments?post=9149"}],"version-history":[{"count":1,"href":"https:\/\/peoplesforumonline.com.ng\/about\/wp-json\/wp\/v2\/posts\/9149\/revisions"}],"predecessor-version":[{"id":9151,"href":"https:\/\/peoplesforumonline.com.ng\/about\/wp-json\/wp\/v2\/posts\/9149\/revisions\/9151"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/peoplesforumonline.com.ng\/about\/wp-json\/wp\/v2\/media\/9150"}],"wp:attachment":[{"href":"https:\/\/peoplesforumonline.com.ng\/about\/wp-json\/wp\/v2\/media?parent=9149"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/peoplesforumonline.com.ng\/about\/wp-json\/wp\/v2\/categories?post=9149"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/peoplesforumonline.com.ng\/about\/wp-json\/wp\/v2\/tags?post=9149"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}