A significant distinction between actions in rem and in personam lies in their enforceability. In an action in personam, judgments can be enforced against the assets of the defendant, irrespective of the nature of the claim. In contrast, in an action in rem, judgments are enforceable only against the specific ship involved in the proceedings.
The Nigerian Maritime Sector, no doubt, contributes significantly to the nation’s economy. Recognising the significance of the sector, the Federal government in 2023 established the Ministry of Marine and Blue Economy. The importance of the sector also underscores the need for a detailed examination of admiralty jurisdiction and in which court it is vested as well as some intricacies surrounding same in the nation’s legal framework.
The Admiralty Jurisdiction Procedure 2023 represents a significant stride in modernizing maritime law and streamlining legal processes within admiralty jurisdiction.
Lomé Charter aims for a secure African maritime future but faces hurdles. Challenges include a non-binding nature, unclear provisions, and capacity gaps. Solutions involve strengthening legal force, boosting clarity, and addressing resource constraints.
The Nigerian economy is classified as a mixed economy and the maritime industry of Nigeria is a major sector of the economy taking into consideration, the fact that the country’s status is that of a major oil-producing and exporting country.
The oceans’ potential to meet sustainable development needs is enormous; but only if they can be maintained or restored to a healthy, and productive state. The significance of oceans for sustainable development has been recognized from the beginning.
However, the level of investment is also dependent on an ascertainable valuation of risks as well as revenue generated. So, in a case where the risks weigh higher than the revenue, this poses a challenge as it reduces investment options.
Nigeria is now making significant progress in reviving its mining sector. Over the years, the industry functioned without environmental oversight or, at best, under an inattentive environmental system until a few years ago.
The Nigerian maritime industry is capital intensive. Hence, it requires a significant amount of capital to keep it afloat. Undoubtedly, investment has been acknowledged as one of the most reliable methods for the expansion and sustenance of any industry, irrespective of size.
