‘Maritime sector now more attractive to investors’

A shipping magnate and Chief Executive Officer of Port Harcourt-based Elschon Nigeria Limited, Emi Membere-Otaji, has stated that the Nigerian Maritime sector is now attractive to more investments due to improved security in the nation’s maritime domain.

This, he said is made possible by improved security on the nation’s waterways with a record 24 months of zero piracy attacks as well as the delisting of Nigeria from the international piracy hotlist.

Membere-Otaji, who is also a medical doctor, disclosed this to newsmen at the graduation ceremony of the 2024 batch of the Advanced Combat Training at the 5 Battalion (Military) Base in Elele near Port Harcourt.

The training is to gain status and competence for world-class operations to protect Nigeria’s blue economy by defending the nation’s territorial waters. The Deep Blue Project (DBP) was started in 2019 to fight piracy and terror in the waters.

The member of the International Chamber of Shipping and shipowner said the event at Elele meant a lot to the international shipping chambers, adding that shippers and ship-owners were critical stakeholders of the maritime sector.

Membere-Otaji, a former Commissioner for Health in Rivers State and president of the Port Harcourt City Chambers (PHHCIMA), also represents the Nigerian Chamber of Shipping as council member.

He told journalists that what the Ministry of Defence, the Nigerian Maritime Management and Safety Agency (NIMASA) were doing with the Ministry of Marine and Blue Economy is important to those actually in the waters as shippers and shipowners.

He stated that as double assurance, ships and vessels carry their own security in the inland waterways just to be careful. “This is because it is easier to attack a vessel in the inland waterways because they are small creeks unlike the offshore that is open. The attacks are less”, he stressed.

On how this affects investments in the maritime space, the Kalabari chief said piracy and robbery were some of the drawbacks of investing in the maritime and shipping space.

He added: “You know that there are many others, I mean there are other factors but as far as that aspect is concerned, a normal investor will want to bring more assets or a new entrant.”

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