Asoluka predicts maritime industry boom

Renowned economist and maritime expert, Dr Chris Asoluka has predicted boom for the maritime industry.

Speaking on Monday at a one day seminar on public-private-partnership (PPP) strategy for infrastructural development and modernization in the Nigerian maritime sector organized by Nigerian Maritime Administration and Safety Agency (NIMASA) in Lagos , Asoluka said the partnership between government and the private sector would open up the maritime industry.

Asoluka said, “I do believe that this PPP approach will expose Nigerians to what we call the competitive advantage. We can develop maritime competitive advantage through serious intercourse in terms of ideas so that funding will arise and there will be more jobs for Nigerians and they would be empowered.

“PPP will allow us pull our ideas and brainstorm. Let us reason together and if we agree on a solution, people will have greater confidence in that solution and that will bring the issue of financing and with this, we expect that the level of activities in the maritime industry will explode.”

Asoluka who is also the Chairman of the board of Oil and Gas Free Zones Authority said government had realized that it has limited resources hence the idea of involving private investors to drive the growth of the maritime industry.

“Rather than previous time when government knew everything and also when there is sheer secrecy about how they came about their policy, the so-called black box, if government decision arose from a black box, the confidence people will have in that decision will be very low, so in terms of value and contributions, people will be reluctant.

“People will understand how such decisions and policies emanated. Also, the implementation will be easier because they know how the decisions were reached and because they have confidence in the policy option they would be able to finance or fund the projects,” Asoluka said.