The National Bureau of Statistics (NBS) has been charged with drastically underreporting the Nigerian marine industry by Muda Yusuf, the chief executive officer of the Center for Private Enterprise.
When responding to the GDP for the second quarter of 2022, Muda questioned the reasoning behind the NBS’ determination that water transport contributed N2.4 billion to the GDP.
He added that marine sector operations went beyond water transportation and that water transportation was the only proxy that came close to accurately representing maritime.
He characterised the industry as a significant player in global trade, essential to both the export and import of goods.
“The maritime sector of the economy is a very important sector in the international trade process, playing a very critical role in our import and export. It generates appreciable revenue and creates a lot of jobs. It is very critical to the supply chain of the Nigerian economy.
“There is evidently a gross under-reporting of the activities of the maritime sector by the National Bureau of Statistics. For instance, in the Q2 GDP report, the maritime sector (water transport) was said to have contributed a mere 2.4bn Naira to the GDP out of N45.5trn GDP for the quarter.
This is a contribution of a mere 0.01percent. In the first quarter of 2022, the NBS recorded a 0 per cent contribution of the sector to GDP. In the GDP numbers, water transport is the only proxy closest to maritime. But maritime sector activities are beyond water transportation.”
The former Director-General of Lagos Chamber of Commerce and Industry urged the NBS to always engage stakeholders in the sector to ensure proper capturing of activities.
“We, therefore, appeal to the National Bureau of Statistics to engage with stakeholders in the maritime sector to ensure a proper capturing of the activities of the sector and the contributions of the sector to the national economy.
The GDP figures over the years have been grossly underreporting the contribution of maritime to the national economy. This remedy on data quality is critical for planning and investment.”
