Maritime stakeholders are calling for urgent reforms to improve the industry in 2025. They stress the need for 24-hour cargo clearance, stable foreign exchange, and better infrastructure.
The sector faced severe challenges in 2024, including fluctuating exchange rates, port congestion, and high business costs. Many clearing agents and importers were hit hard and closed their businesses.
Key demands include implementing a national single window system to streamline operations, stabilizing exchange rates, and fully enforcing the Cabotage Act to strengthen the local shipping industry.
Stakeholders also seek investments in modern infrastructure, such as repairing the collapsed quay at Tin Can Island Port, to ease bottlenecks and boost efficiency.
Leaders like Ayorinde Adedoyin call for genuine support for local shipping industries, citing the need for government focus on sector growth and employment creation. They stress that the Cabotage law should be fully enforced to boost local business development, particularly in oil production.
Dr. Kayode Farinto, former ANLCA president, also pushes for proper stakeholder engagement and policy transparency to help the sector recover.
Overall, maritime stakeholders believe that with the right reforms, 2025 could be a year of transformation for the industry.