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Says maritime industry to witness xenophobic attack over foreign dominance
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By Steve Agbota
The Nigerian blue economy is losing about N3 trillion annually due to the Federal Government’s inability to harness the nation’s aquatic resources.
The Chairman and CEO of Wealthy Honey Investments Nigeria Limited, Dr Farinto Kayode, disclosed this to Daily Sun on Wednesday during the occasion of his birthday celebration with the theme: “Raising National Awareness on the Significance and Economic Potential of the Blue Economy”, organised by the Nigerian Economic Growth Forum (NEGF) in Apapa, Lagos. He warned that, very soon, the maritime industry will witness xenophobic attacks over foreign dominance and freight forwarding.
However, he said that the Sustainable Development Goals, where the issue of the blue economy was actually derived from, if well harnessed, mean aquatics would contribute tremendously to the nation’s economy.
“I spoke about aquatic culture, and you look at capacity building and educational system, there is no way the Federal Government should not generate a minimum of N3 trillion on a yearly basis. I stand to be corrected. I know what I’m saying. I’m an expert in the maritime industry.
“I will tell you that, unfortunately, only a few individuals are making mega amounts into their personal pocket. So, the government can generate over N3 trillion on a yearly basis. And as I’ve told you, if we build our blue economy very well, it will be competing with the revenue generation of the Nigerian Custom Service,” he said.
This means, according to him, that Nigeria as a maritime nation is losing about N3 trillion on a yearly basis due to the inability of the government to harness the potential embedded in the nation’s blue economy.
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However, he lamented that foreigners have not only taken over the aquatic life in the nation’s waters but have also taken over the freight forwarding jobs in the country.
“It’s not about aquatic resources, you know. You remember when I was on the board of the governing council of CRRFN, I developed a proposal on even freight forwarding, and I called it indigenisation of freight forwarding. But nobody listened to me. It cost me about one million naira to write that proposal. Because I saw it coming, I said, the way we are going now, these foreigners will take over the economy of this country. It’s not only in the aquatic life, but they are taking over the freight forwarding industry.
“The only way they are not taking over is the Customs. And whether you like it or not, before you know it, you now see a situation where the Chinese are now naturalising as Nigerians. A lot of things are being tapped. I had a meeting in Norway or Poland, about two months ago, on the issue of mineral resources. And I see what we are losing. When you see a crisis in the far north, it’s because of the mineral resources that people are plundering without government assistance, without protection, and they are making more money, billions of money for it.
“And Chinese people are the number one people who are many there. And what they can do is to cause chaos in that area.
“So the government will always think there is a problem in the north-east and north-west. It is because of our national resources. So, talking about Chinese involvement or foreign dominance in the maritime industry, we are losing the preponderance of money to them. And the government must do something urgently so that we will not go the way of South Africa. You remember a few years ago, there was what we call a xenophobic attack. It is going to happen very, very soon,” he said.
He warned that if the government does not do anything in the next two years about it, there will be xenophobic attacks on the foreigners and on freight forwarding.
“There will be xenophobic attacks on the foreigners, on our natural resources that have been depleted, on the maritime industry, and on the aquatic life. I tell you, on our waterways, where I know police are monitoring, go as far as about 10 nautical miles, you see foreigners with foreign vessels harnessing our resources. I remember when I was a baby agent, there were what we call shrimpers at Brawa. Shrimpers will go far, on the waterway, bring fish, come and sell to Nigerians.
“Shrimpers are dead. And that was why I said the issue of CVFF, the capital investment financing fund, is not being handled very well. This is another thing. We don’t even have indigenous shippers again. They are going into extinction. How many people have indigenous vessels now? On that alone, the government will generate more than N1 trillion. And that’s why I say we are losing a minimum of N3 trillion, looking at it holistically, on the issue of blue economy. Because it has not been well thought out. It’s very unfortunate,” he explained.
