By Chidimma Okwara,
The assertion that a functioning steel industry is key to Nigeria’s maritime development comes from the Sea Empowerment and Research Centre (SEREC).
According to SEREC, a robust domestic steel industry is crucial for Nigeria’s maritime sector because:
In a report titled, “Nigeria at 65: The Maritime Scorecard We Cannot Ignore”, Head of Research at SEREC, Eugene Nweke, said without a functioning steel industry, Nigeria’s shipyards will remain import-dependent, uncompetitive, and unable to support large-scale ship repair or new building.
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Shipbuilding and Repair: Without a functioning steel industry, Nigeria’s shipyards remain import-dependent, uncompetitive, and unable to support large-scale ship repair or new building efforts. This reliance on imported steel and materials is a significant drain on foreign exchange.
Industrialization Linkage: SEREC emphasizes that Nigeria must link maritime development with industrialization by reviving the steel industry, potentially through modular mini-mills, which they see as essential for creating a credible shipbuilding and repair industry.
In essence, SEREC is highlighting that domestic steel production is a foundational requirement for Nigeria to develop a competitive, self-reliant maritime sector capable of supporting its own vessels and infrastructure, thereby reducing import dependence and driving economic growth.
