BUILDING ECONOMIC CAPACITY THROUGH MARITIME INFRASTRUCTURE DEVELOPMENT

Chapter Two

Elements of maritime infrastructure

Maritime infrastructure elements are many and varied. This is so because the industry itself is an extremely heterogeneous business environment. The maritime space is populated by many different classes and mix of activities and market players, many of whom have conflicting interests and varying business strategies. We shall therefore examine only the key ones. They include investments in:

• Ports and Terminals – Cargo handling equipment

• Channels and Harbours

• Warehouses

• Vessel repair and ship building yards

• Port access roads

• Intermodal Transport

• ICT (Information Communication Technology)

• Deep seaport

• Power and water.

All these activities and others are available in the maritime industry, making it a remarkably attractive investment destination for investors, both domestic and international. If one single reason is to be given why the maritime industry is still an under-performing sector today, the reason can arguably be found in the fact that maritime infrastructure in Nigeria is poorly invested and grossly under-funded. The situation no doubt calls for a major paradigm shift to fully harness the vast trove of hidden treasures in the sector. In this regard, I will once again want to commend the efforts of the organizers of NIMAREX 2015 for their doggedness in birthing these intellectual engagements, thereby keeping the basic maritime issues in Nigeria alive in the full consciousness of maritime Nigerians.