Tag economic recovery expert urges fg to focus on maritime industry

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Tag Economic Recovery Expert Urges FG to Focus on Maritime Industry

A renowned economic recovery expert, Dr. Olumide Adeyemi, has called on the Federal Government to prioritize the maritime industry as a key sector for driving economic recovery in the country.

According to Dr. Adeyemi, the maritime industry has the potential to create thousands of jobs, stimulate economic growth, and increase Nigeria's revenue. He made this call during a recent economic forum in Lagos, where he emphasized the need for the government to invest in the sector.

"The maritime industry is a critical sector that can drive economic recovery in Nigeria," Dr. Adeyemi said. "It has the potential to create jobs, stimulate economic growth, and increase revenue. However, the sector is facing numerous challenges, including inadequate infrastructure, corruption, and lack of investment."

Dr. Adeyemi noted that the maritime industry is a significant contributor to Nigeria's economy, accounting for about 90% of the country's foreign trade. He urged the government to invest in the sector by providing adequate infrastructure, including ports, roads, and rail networks.

"The government should also implement policies that promote the growth of the sector, such as reducing bureaucracy, increasing transparency, and providing incentives for investors," Dr. Adeyemi said.

The expert also emphasized the need for the government to address the issue of corruption in the sector, which he said is a major hindrance to its growth.

"Corruption is a major challenge in the maritime industry, and it is affecting the sector's growth and development," Dr. Adeyemi said. "The government should take steps to address this issue, including increasing transparency and accountability in the sector."

Dr. Adeyemi's call comes at a time when the Nigerian economy is facing significant challenges, including a decline in oil prices and a rise in inflation. The government has been seeking ways to diversify the economy and reduce its dependence on oil.

The maritime industry has the potential to play a key role in Nigeria's economic recovery, and Dr. Adeyemi's call is likely to resonate with many experts and stakeholders in the sector.