Critical Assessment of Maritime Industry in Nigeria: Challenges and Prospects of Policy Issues

This Paper reviewed the structural nature, situational contents, abrasive occasional inconsistencies, current challenges and prospects of the Nigerian Maritime industry policy issues. This, over the years, had skewed the development and efficiency of this critical cash-cow industry that firmly holds the beacon of hope and survival of a developing economy like Nigeria. This is because, amongst all the modes of transport, Maritime industry got the worst hit in terms of poor quality funding, policy inconsistencies and lack of support from government. This is clear in the non –availability of a functional shipping policy in place to really checkmate the fraudulent sharp practices and vices that usually erupts within the confines of the system. This has in no measure, promoted the pervasive nature of foreign domination of the industry in the carriage of our local generated cargo against the interest of the indigenous stakeholders. Lack of political will to enforce the implementation of some of the initiated government policy in this industry is a strong factor for concern and consideration. This is because, the industry is one that promotes mediocrity and lack of technical and professional expertise, as that is a very key factor for not having a functional shipping policy.