Investment: Unexplored Opportunities For Real Estate Developers In Nigeria’s Maritime Industry

 By Lateef Adegbite

In spite of the huge opportunities that for the Real Estate Players in the Nigerian Economy, these appears not to have been tapped over the years. This may have informed why the International Real Estate Federation, FIABCI, is set to host a ground -breaking General meeting on the Blue Economy and the opportunities inherent for the Real state players.

The ground -breaking General Meeting scheduled to hold on Thursday, February 6, 2025,   at Radisson  Blu, Ozumba Mbadiwe , Victoria Island , Lagos,  the nation’s Commercial nerve centre, is expected to bring together  Real Estate Professionals,  government officials from both the state and Federal Levels inand people from other sectors of the economy including the nation’s maritime sectors ’’to discuss  the evolving  intersection  of real estate  and Nigerian’s blue economy  managed and operated by Dayo Mobereola led Nigerian Maritime Administration and Safety Agency, NIMASA.

The maritime regulatory agency is one of the Maritime agencies under the newly established ministry of marine and blue economy which has Aegboyega Oyetola, a former governor of Osun state as the incumbent minister. The former Osun state governor, over the last one year had moved to open up the nation’s blue economy sector to attract investors, both local and foreign including the real estate developers.

Some of the projects that was said to have been completed by one or two of   the agencies superintended by the ministry which should be of interest to the real estate Professionals includes the, cleared the decade-long traffic congestion on the Mile 2- Tin can Island, Apapa port access roads, thereby reducing turn around time.  

The project was said to have been completed by NPA, at the instance of Adegboyega, in partnership with the Nigerian Police Force, NPF, under the close watch of the Ogun state Inspector born Inspector General, IGP,Kayode Egbedetokun,  the Nigerian Navy  and the Lagos state government , LSG,   which in no  small measure  had strengthen  Nigeria’s competitive position  in the global maritime industry.

Lekki deep seaport

Moreso, the ministry, through NPA, had leveraged on Leeki deep seaport to accommodate larger vessels and ensure the recovery of lost cargoes which encourage the real players to invest in the sector. The agency was said to have  procured and deployed  fenders, bouys, bollards, pilot cutters,  tugboats and  waterfront security patrol boats which must e manned for  easy and  safe  navigation of waterways, which is very instructive.

At the recent interactive session between the former Osun state governor and the League of Maritime Editors, in the south western state of Lagos, he had had revealed that the ministry   has commissioned 13 fibre-reinforced plastic fast -moving boats and three ambulances procured BY Nigerian Inland Waterways Authority, NIWA, another maritime agency under the ministry, targeted at phasing out with the rickety wooden boats used for water transportation.

The ministry through NIWA, was said to have also inaugurated three PC W23 boats with 50HP each for surveillance activities and five PC W23 boats with double 75HP each for rein cement activities.  Abubakar Dantsoho, led NPA, may have followed the footsteps of the NIWA, Leadership, to procure and deploy Security Patrol oats, SPBs, to all Pilotage Districts   to address the incessant   attacks of vessels   along the channels   and at ports waterfronts to ensure adequate at the nation’s seaports. This is where the real estate professionals needed to come on how to provide the much need accommodate for the officials that will operate these SPBs, for quick response to any emergency situation.  

The recruitment  of 350  water Marshall  to uphold  safety standards  at jetties across Nigeria Inland waterways   speaks volume.  

The ministry of marine and blue economy under the Leadership of Adegboyega, was said to have also provided safety information to vessels sailing in Nigerian waters   in line with the Safety of Lives at Sea,SOLAS,  Convention  on an ongoing basis  to preserve  life and property.

This is in addition to the completed installation of five electronic tidal gauges across  selected points in Inland ways, across Nigeria ‘’to enable  remote  real-time  data access  to the users  of the Nigerian coastal and inland waterways.

Essien, CSP,urges real estate developers to invest in thmaritime sector because of the immense opportunities

Essien, who was a former Special Adviser on Communications and Strategy, to Bashir Jamoh, the immediate past Director General of NIMASA, Founder of the Blue Economy Academy and Dean, School of Eloquence , who incidentally is the Chief Executive Officer, CEO,  of the Achievement Channel, may have taken the immense opportunities that exists for the real estate developers in the sector, to draw them it.

As an industry player who is expected to give   deliver the keynote address on the event on ‘’ how real estate investors and developers can leverage Nigeria’s coastal and maritime assets for the sustainable growth of the economy’’, he had emphasized the importance of transitioning from’ ’Crude to Blue’’ and how real estate players can capitalize on waterfront developments, coastal urbanization and maritime-driven economic policies’’. 

The Akwa Ibom state Communication expert, who was said to have corroborated what Adegboyega, the minister of marine and blue economy, that it is a multi-billion – dollar frontier awaiting to be fully explored, had said that   the real industry   must begin to position itself strategically in areas such as ‘’coastal housing, marine tourism, and smart waterfront cities’’.

It was not surprising why the former Special Adviser to Jamoh, an ex-while Director General of NIMASA,  had said that the planned  real estate ground breaking general meeting in Lagos,  will provide ‘’aroadmap  for industry players   to seize the emerging  opportunities  in the  nation’s maritime sector  to invest in it  instead of seeing  it as capital intensive and  an exclusive preserve of maritime  operators, both within and outside the country.

Going by the programme tat that was said drawn up for the all-important event, it will feature an array of high-profile speakers and industry Leaders including Moruf Akinderu-Fatai, Lagos state Commisioner  for Housing,  Mrs. Toke Benson  Awonyika, another Commissioner, in Babajide Sanwo-Olu’s Administration   overseeing   the state ministry of Tourism,  Arts and Culture and  Jermane  Sanwo-Olu, Executive Assistant to the governor   on Dispora Affairs .

Other key professional speakers expected at the FIABCI, event, in Lagos are Adeniji Adele, FIABCI, Africa and Near East President, Akin Opatola, FIABCI, Nigerian President would be the Chief Host while Ramon Riera  Toroba the FABCI, World President,  will be the Chief Guest.

As part of the crowd participant measure to the real estate ground breaking general meeting, non- members of FIABCI, should be ready to pay a non-refundable fee of N100,000.00 while members attendance is free.

Given the knowledge that may be gained on the all -important event may have informed why Essien had   urged real estate developers, investors, policy makers, and stakeholders across Nigeria’s maritime industry and property developers and other parts of the West and Central African regions to endeavour to participate in the one-day event.

The real estate developers have no reason to worry about their investment in the nation’s maritime sector  because of the security measures that had been put in place in the recent time by the minister of marine and blue economy in partnership with other strategic ministries and  security agencies  to contain the activities of pirates and sea robbers.

Hear Him: the industry has recorded  ‘’zero incidence  of piracy  and maritime terrorism  in the last one year of superintending ,  the affairs of the newly established ministry which should encourage the real estate developers  to invest in the nation’s maritime sector as obtained in other maritime nations where the real estate are playing a key role in their respective countries maritime sector development.

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