Nigeria may have taken the lead in the drive to ensure that the African continent maximizes the benefits that are imbedded in China’s ambitious Maritime Silk Road Initiative (MSRI). This is because it is believed the initiative will substantially affect the pattern of global commerce in the near future.
Director-General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Dr. Dakuku Peterside, who is leading the charge told news men last week that the Chinese Belt and Road Initiative, also known as the Silk Road Economic Belt and the 21st-century Maritime Silk Road, will be a game changer for global transport and substantially affect the pattern of global commerce. Dakuku stated this in Dubai Maritime Summit 2018, which was part of the events at the five-day UAE Maritime Week 2018.
Speaking on the benefits and risks of the BRI, a Chinese government development strategy aimed at enhancing regional connectivity through infrastructure development and investments in Europe, Asia and Africa, the DG urged African and Middle East countries to plan mitigation measures against potential risk elements of the initiative.
He identified the likely risk elements to include trade imbalance in favour of China and Chinese control of trade infrastructure, which will give it a lot of leverage in the global market place.
Source: THIS DAY