In a compelling call for action, Dr. Kayode Farinto, a distinguished maritime expert, is urging Mr. Adegboyega Oyetola, the Minister of Marine and Blue Economy, to develop a comprehensive strategic blueprint to bolster the industry’s viability.
Addressing stakeholders in Lagos on Tuesday, Farinto underscored the significance of collaborating with industry technocrats to formulate a blueprint that not only focuses on the sector’s growth but also generates employment opportunities for youths and taps into untapped underwater resources, ultimately contributing to Federal Government revenue.
Expressing his concerns over the underutilization of the Ministry of Marine and Blue Economy since its establishment, Farinto called for immediate attention to pressing challenges within the sector. Key issues highlighted included the urgent need for forex provision for port operations, addressing the failing call-up system responsible for corruption and increased cargo clearance costs, and improving the deteriorating state of port access roads, particularly in the eastern region.
While acknowledging the commendable efforts of the current Comptroller General of Customs, Adewale Adeniyi, in resolving certain issues such as the opening of Form M, Farinto stressed the necessity for decisive government action, specifically in addressing the call-up system and improving the condition of port access roads. He also called on the Minister of Works to intervene and enhance overall productivity while contributing to the region’s revenue.
To fortify the national currency, Farinto proposed encouraging exporters to utilize cargo trains, a move aimed at reducing extortion on roads, eliminating illegal taxes, and improving cargo turnaround time. Emphasizing the potential for enhancing the competitiveness of the naira against the dollar through streamlined export processes, Farinto urged Nigeria’s policy formulators to thoroughly assess opportunities within the maritime sector for generating additional revenue.
As Nigeria navigates the challenges within its maritime domain, Dr. Kayode Farinto’s impassioned plea serves as a rallying call for concerted efforts and strategic planning to revitalize the industry and propel it towards sustainable growth.
