Lawyers in the maritime industry have faulted the Federal Government's policy on ship repairs.Speaking at a workshop organised by the Maritime Lawyers in Ibadan last week,
the operators said the government has not offered special incentives for the sector to promote and enhance efficiency in shipping-related services and make the country a hub.
One of the lawyers, Mr Kareem Bakre, said ship building is capital intensive and urged the Federal Government to make special provisions for capacity building in ship building.
He said local ship owners face difficulties in raising funds for capital expenditure to facilitate improved business prospects.
Badmus said the facilities at the existing shipyards were highly inadequate when compared to what is required at international level.
He said ship repairs business is highly competitive and should be supported by national policies and subsidies, adding that without government's support, the growth of the industry would be difficult.
Badmus also expressed concern over the inability of the government to support coastal trade with incentives while other countries do, adding that for the sector to grow, there should be incentives in the form of lower taxes to offset the costs.
Another lawyer, Mr Rotimi Williams, said efficient ship repair yards facilitate seaborne trade, driving up commerce, employment and income.
Source: The Nation