Agbakoba says 25,000 illegal foreign vessels in Nigerian waters, urges major maritime reform

Prominent lawyer Dr. Olisa Agbakoba has raised a critical alarm, stating that over 25,000 foreign vessels are operating illegally within Nigeria’s coastal waters.

He identifies this as a severe threat to national security and a source of massive economic losses for the country.

Dr. Agbakoba, Senior Partner at Olisa Agbakoba Legal (OAL) and a former Nigerian Bar Association president, detailed these findings in a national policy document submitted to the Minister of Marine and Blue Economy, Dr. Adegboyega Oyetola. The document, titled “Unlocking Nigeria’s Maritime Potential to Generate N70 Trillion Annually,” outlines a series of corrective measures.

A key recommendation is a thorough review and amendment of the Coastal and Inland Shipping (Cabotage) Act of 2003.

Dr. Agbakoba advocates for stricter enforcement, including penalties like vessel seizure, to ensure that at least 50% of coastal trade is conducted by Nigerian-crewed vessels. This aims to stem the current flow of revenue to foreign operators.

The policy also calls for restructuring access to the Cabotage Vessel Financing Fund (CVFF) and strengthening institutional synergy for better governance.

Furthermore, Dr. Agbakoba proposes the creation of a National Blue Economy Commission.

This central body would harmonize activities across various ministries—Transport, Environment, Fisheries, Petroleum, and Trade—to develop marine economic zones and attract investment, he said.

To boost revenue, he highlights several streams, including fees from vessel registration, cabotage compliance, seafarers’ certification, and increased domestic shipping.

Notably, he urged the government, via the Nigerian Maritime Administration and Safety Agency (NIMASA), to begin collecting taxes from oil rigs operating in Nigerian waters, which currently form a “cartel for tax avoidance.”

Achieving these goals, according to Dr. Agbakoba, requires amending relevant laws. This includes expanding NIMASA’s mandate to cover blue economy oversight and establishing a robust tax framework for oil rigs.

Amendments to the Petroleum Industry Act (2021) are also recommended to strengthen offshore regulations and introduce mandatory decommissioning funds for oil companies.

About The Author

Dele Fashomi

Dele Fashomi, seasoned journalist and communication teacher, is a holder of Master of Arts degree in Communication and Language Arts from the University of Ibadan in 1992/93.

Earlier, he had bagged a Bachelor degree from the same university in 1984, after which he proceeded to the Nigerian Institute of Journalism, Lagos, in 1990, for a postgraduate diploma in Journalism.

He had done many courses in communication, including the EU-BBC Editing Course in 2002.

Mr. Fashomi combines effectively the practice, research and teaching of communication. And to date, he has published two academic works in communication: Issues in Communication Technology and Policy (2010) and Economic and Social Issues in Advertising and PR (2013).

He had his first break in the Nigerian media in Concord Newspapers in 1990 and today, he has over two and half decades experience earned in several newspapers.

He has been part of many start-ups, such as The Republic (1987), The Comet (1999), The Anchor 2001 – 2002; Sun Newspapers (2003); Westerner newsmagazine (2005 – 2010) as Editor; National Life (2011) as Sunday Editor, and Newswatch Newspapers (2012- 2016) as Daily Editor.

Dele Fashomi is now the Publisher/Editor-in-Chief of Newstide247.com newspaper online, which he started in July 2015. He is also into biography writing, with many books in his trail, some of which he wrote alone and one he co- authored with his mentor, Mr Dare Babarinsa, entitled:  Olabiyi Durojaiye – DARE TO BE DiFFERENT. He also guided and collaborated with Pa Olatunji Odusanya in writing his autobiography – AGAINST ALL ODDS. There are many other books in the works under his pen.

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