Nigeria’ll Significantly Tap in on $1.5trillion Global Blue Economy

The Minister of Marine and Blue Economy, Adegboyega Oyetola says Nigeria will significantly tap in on the global blue economy which according to expert is worth $1.5 trillion annually.

The former governor of Osun state who will be overseeing the newly created ministry explained that given the size of the country and its blue economy, it should be able to contribute immensely to the revenue generation of our country and also provide jobs for the unemployed.

Oyetola seeking interagency collaboration for the attainment of the blue economy goals noted that the power of collaboration, and dedication to service would pave way for success .

“The collaborative effort of a group to achieving a common goal can only be efficient and effective through team work. This is why I crave your indulgence that we must work as a team to deliver on our mandate. Let us work together to find innovative solutions to the challenges we face, ensuring that our oceans and marine are safe, reliable, and sustainable.

“Our oceans cover more than two-thirds of our planet’s surface, holding the key to sustainable economic growth, environmental preservation, and technological innovation. As we look ahead, my vision is rooted in the responsible management and utilisation of our marine resources to benefit not only our economy but also the health of our planet,” said Oyetola.

The Minister further said his
Ministry would come up with practicable ways of ensuring that the Nigerian waterways are well utilised, both in terms of cargo shipment and passenger transportation.

This is as he said it would be done via holistic dredging campaign for most of the strategically important inland waterways to further strengthen them as navigable pathways for passage of goods and people.

“We must come up with practicable ways of ensuring that our inland rivers, lakes, and waterways are well utilised, both in terms of cargo shipment and passenger transportation. And this can be done by embarking on a holistic dredging campaign for most of our strategically important inland waterways so as to make them navigable for the passage of goods and people.

“We equally have a duty to promote better inter-agency cooperation and coordination between the Nigerian Maritime Administration and Safety Agency, the Nigerian Ports Authority, and the Nigerian Inland Waterways Authority.

“As someone with a strong private sector background, we shall promote greater private sector inclusion while fostering greater efficiency through specialisation and the effective delineation of core duties between the units.

“We must seize this opportunity to create positive change, leaving a lasting legacy for generations to come. I appreciate your dedication, and I look forward to working alongside each of you in the pursuit of a better Nigeria,” emphasized Oyetola.

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The Permanent Secretary, Federal Ministry of Marine and Blue Economy/Transportation earlier in her welcome remarks explained that the Ministry had done set the ball rolling with the existence of Marine and Blue Economy, committee, adding that a lot of resources abound in the Nigerian waters and is hopeful that the new Ministry under the leadership of the Minister would be impactful for the good of the country.