By Dianabasi Effiong
The Energy and Maritime Reporters of Nigeria (EMR) in Akwa Ibom State has urged the Federal Government and relevant regulatory agencies to urgently review existing policies driving the operations of indigenous marine and offshore service companies, stressing that many local operators still struggled to survive
in spite of the country’s local content framework.
The call followed a courtesy visit by the Executive Committee of EMR, Akwa Ibom State Branch, to the management of BOBELS International & Associates Company Limited, an indigenous marine services company operating in Nigeria’s offshore support sector.
Speaking during the engagement, the Executive Director (Projects) of BOBELS International & Associates Company Limited, Mr. Eyo Ikot, said that existing policies had, sadly, failed to provide the expected protection for indigenous companies.
According to him, the failure makes it increasingly difficult for affected indigenous firms to compete with foreign operators.
He also said that in spite of several years of investment in the marine and blue economy sectors, indigenous companies continually faced enormous regulatory and financial burdens while multinational companies dominated offshore contracts.
He said that the affected companies in the sector had been compelled to renew multiple operational licences annually at costs exceeding ₦20 million, in addition to taxes and other statutory payments, without corresponding access to business opportunities.
Ikot noted that the earlier policy which allowed indigenous firms to partner technically with foreign companies had become ineffective, leaving many local operators without meaningful participation in offshore operations.
He appealed to government to introduce practical intervention measures, including compensation and support mechanisms, that would encourage indigenous marine companies to remain in business and contribute to national development.
He decried the increasing capital flight resulting from the continued dominance of foreign firms in Nigeria’s offshore industry.
He added that indigenous companies create local employment, retain investments within the country and contribute directly to community development.
Ikot said that BOBELS had maintained its presence in the marine industry for more than 14 years in spite of numerous operational challenges and established international partnerships, including relationships with American marine firms interested in investing in Nigeria’s shipbuilding industry.
He recalled that previous efforts to attract foreign investors to establish vessel-building facilities in Nigeria were unsuccessful due to bureaucratic bottlenecks and lack of government support.
The company executive expressed optimism that the emergence of the Ministry of Marine and Blue Economy would present a fresh opportunity for government to address longstanding challenges confronting indigenous operators.
Earlier, the Chairman of EMR, Akwa Ibom State Branch, Mr. Harrison Ndifreke, said the visit formed part of the association’s engagement with critical stakeholders in the energy, maritime, oil and gas, and blue economy sectors.
He reaffirmed the association’s commitment to promoting responsible journalism, supporting local content development, encouraging investment, and amplifying issues affecting the growth of Nigeria’s maritime industry.
Ndifreke noted that with emerging opportunities in the blue economy and major offshore projects expected in the State, indigenous companies deserved stronger institutional support to enhance capacity, create employment and contribute meaningfully to national development.
He assured industry stakeholders that EMR would continue to provide a credible platform for constructive dialogue between government, regulators, investors and indigenous operators in pursuit of a sustainable and inclusive maritime economy.
