Investor Presentaiton
XCELLON
CAPITAL ADVISORS
PEOPLE + IDEAS + SOLUTIONS
Effect on the Maritime Sector
The federal government earlier in 2020 plan to spend the sum of N2trillion from the maritime
industry. This mission was automatically rendered mission impossible by the reason of the outbreak
of covid-19 pandemic.
There has been a decline in the volume of import and export cargoes. Major ports of the world have
been shut down and the global economy seems to be wallowing under economic convulsion (Okeleke
& Aponjolosun, 2020)
The Nigerian Customs Service as part of the few government agencies with a revenue generation
mandate aiming at N2 trillion due to it 2019 record which exceeded its target of N937 billion by N404
billion and NPA had N118 billion in seven months in 2018. NIMASA in 2018 contributed a total of N22
billion to the Federation Account, faced its hit of decline expectations as COVID-19 pandemic
continues it bites against the nations of the world and sea ports remain access restricted (Hellenic
shipping news, 2020).
STATE OF THE GLOBAL MARITIME
SECTOR - POST COVID-19
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