The Minister for Marine and Blue Economy, Adegboyega Oyetola, has underscored the necessity for enhanced investments in Nigeria’s inland waterways to unlock their vast potential. Speaking at a Maritime Business Roundtable Breakfast Meeting organized by Zoe Maritime Resources, Oyetola emphasized that inadequate investments and lax regulation pose significant challenges to the sector’s growth.

Oyetola, represented by Ekanem Selia, Deputy Director of Cabotage and Shipping Development at the Ministry of Marine and Blue Economy, highlighted the importance of inland waterways transportation as an integral component of Nigeria’s transport systems. He lamented the underdevelopment of the inland waterways compared to air and road transportation in the country.

“Inland waterways is one of the oldest means of transporting goods and services from one point to another. Nevertheless, the least developed compared to air and road transportation in Nigeria,” remarked Oyetola.

He stressed that a well-developed inland waterways system would yield numerous benefits for Nigeria’s economy, including high transport volume, low energy consumption, and minimal negative environmental impact.

The Consul General of the People’s Republic of China in Lagos, Ms. Yan Yuqing, emphasized the importance of digitalization and innovation in China’s inland waterway and maritime transport systems. She cited China’s success in leveraging technology to enhance efficiency and promote sustainability in waterway transportation.

“China’s inland waterway transportation completed a freight volume of more than 4.4 billion tons and goods turnover of 1.9 trillion ton-kilometers in 2022, highlighting the significant support for regional economic development and social progress,” said Ms. Yan Yuqing.

She noted the potential for collaboration between China and Nigeria in the field of waterway transportation and marine conservation, citing similarities in their geographical features and maritime infrastructure.

Alhaji Munirudeen Oyebamiji, Managing Director of the National Inland Waterways Authority (NIWA), emphasized the importance of stakeholders’ sensitization to global best safety standards in inland waterways operations. He highlighted NIWA’s partnerships with security agencies to ensure the safety and security of Nigeria’s waterways.

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The discussions at the roundtable underscored the urgent need for increased investments, regulatory reforms, and technological innovations to harness the full potential of Nigeria’s inland waterways and promote sustainable economic growth in the maritime sector.