According to Taiwo Afolabi, the Chairman of Sifax Group, the minimal contribution of Nigeria's maritime industry to the country's Gross Domestic Product (GDP) can be attributed to several factors.

These include infrastructure deficits, insecurity on the nation's waterways, low adoption of technology in the sector, foreign exchange bottlenecks, and inconsistent policies. These challenges have limited the sector's ability to make a significant impact on the country's GDP. However, Afolabi believes that if the maritime industry is properly harnessed, it has the potential to become a major revenue earner for Nigeria, especially with the declining revenue from oil.

He emphasizes the need to transition from an economy dependent on oil to one that relies on non-oil sectors, with the maritime industry playing a crucial role in this transition. To achieve this, Afolabi suggests careful planning, progressive policies, adequate funding, an enabling environment, friendly economic policies, investment in manpower development, and massive infrastructural development in the maritime sector.

source; Punchng.com
https://www.vanguardngr.com/2023/05/infrastructure-deficit-insecurity-limit-maritime-contribution-to-gdp-sifax-boss/