<< Back             Poser >> NIMASA commits to shipyard evelopment, capital flight cuts By Godwin Oritse The Nigerian Maritime Administration and Safety Agency, NIMASA, has reiterated its commitment to strengthening Nigeria’s shipbuilding and shipyard development as part of efforts to deepen the blue economy and curb capital flight. Speaking at a stakeholders’ breakfast meeting organised by the Agency themed: “Dissecting the Issues, Challenges, and Prospects in the Shipbuilding Segment – Discussing Funding Models, Incentives, and Policy Support for Shipyards Growth,” NIMASA’s Executive Director, Operations, Engr. Fatai Taiye Adeyemi noted that shipbuilding remains a capital-intensive, cyclical and technically demanding sector that requires deliberate policy and financial interventions to achieve sustainable growth. Adeyemi, who was represented by the Director, Marine Environment Management, Dr. Oma Offodile, said the breakfast meeting was designed to provide a clear assessment of the structural challenges confronting the shipbuilding segment and to collectively agree on pragmatic funding models, incentives and policy options capable of driving competitive shipyard growth in Nigeria. He said: “Shipbuilding is a strategic pillar of Nigeria’s maritime and blue economy aspirations. It is capital-intensive, technically demanding and highly competitive, which is why deliberate funding models, targeted incentives and consistent policies are critical. “Through engagements like these, NIMASA is working with industry stakeholders to address structural constraints, build local capacity, curb capital flight and position Nigerian shipyards to compete sustainably, while supporting decarbonisation, job creation and our obligations at the International Maritime Organisation,” he said. Vanguard Business News	Ghana records $13.66b trade surplus in 2025 on strong gold, cocoa earnings – BoG  Ghana posted a $13.66 billion trade surplus in 2025, significantly higher than the $9.88 billion recorded in 2024. NIMASA commits to shipyard evelopment, capital flight cuts By Godwin Oritse The Nigerian Maritime Administration and Safety Agency, NIMASA, has reiterated its commitment to strengthening Nigeria’s shipbuilding and shipyard development as part of efforts to deepen the blue economy and curb capital flight. Speaking at a stakeholders’ breakfast meeting organised by the Agency themed: “Dissecting the Issues, Challenges, and Prospects in the Shipbuilding Segment […] Oil Theft: How criminal networks are moving from creeks to communities For decades, Nigeria’s oil theft crisis was largely associated with remote creeks, mangrove swamps and offshore vandalism in the Niger Delta. Increasingly, however, security agencies say the trade is migrating inland-embedding itself within civilian communities, markets and transport corridors where it can operate under the cover of everyday commerce. The recent exposure of Owaza Mami Market […] Tinubu signs Executive Order to end NNPC’s 30% oil revenue cuts By Peter Egwuatu PRESIDENT Bola Tinubu, yesterday, signed an Executive Order (EO) to boost oil and gas revenues flowing into Nigeria’s Federation Account by eliminating wasteful deductions under the Petroleum Industry Act (PIA). According to the statement issued by the Presidential spokesman, Bayo Onanuga, the Executive Order is anchored on Section 44(3) of the Constitution, which […] Dangote signs $400m equipment deal to fast-track refinery expansion By Bashiru Ayuba Dangote Group has signed a $400 million construction equipment agreement with XCMG Construction Machinery Co., Ltd., one of China’s leading manufacturers of construction machinery, in a move set to accelerate the expansion of the Dangote Petroleum Refinery & Petrochemicals from 650,000 barrels per day to 1.4 million barrels per day, positioning it to […] Nigeria set to adopt digital sustainable financial reporting As FRC, SALI, RCRA sign MoU By Progress Godfrey Nigeria has taken a decisive step towards modernising corporate disclosure with the adoption of digital sustainable financial reporting, following the signing of a Memorandum of Understanding (MoU) between the Financial Reporting Council of Nigeria (FRC), SALI Technologies and Regulatory Compliance Readiness Advisors (RCRA), Limited. The concession agreement […]