•unveils blueprint for maritime sector
The Federal Government is seeking to maximize the utilization of resources from the Nigerian maritime area of over 46,000 square kilometres for the sustainable growth of the sector.
Speaking in Abuja on Tuesday, the Minister of Marine and Blue Economy, Adegboyega Oyetola it is important to have diverse marine resources in the country.
“We have an exclusive economic zone of over 200 nautical miles, and 10, 000 kilometres of inland waterways, capable of supporting a vibrant intra-regional trade.
“We are blessed with strategic navigational routes linking Africa with North and South America, Europe, and Asia, making the shipping industry potentially a major driver of our country’s economy.
“Let me hasten to add that the recent expansion of our continental maritime domain came at the right time. Here, we must commend Mr. President on the work of the Presidential Committee on Nigeria Extended Continental Shelf Project.”
He said the “expansion gave us an additional 16,300 square kilometres which is six times the size of Lagos State. This has no doubt added more to the marine resources base of Nigeria.
“In layman’s idea, Marine and Blue Economy simply means all the economic activities that take place in the water and around it and how we can harness all the activities to the benefit of mankind without necessarily hurting the environment.
“Here, we are talking about fishing, cargo businesses, and every other commercial activity capable of generating wealth for the nation.
“However, the World Bank sees it as the sustainable use of ocean resources for economic growth, improved livelihoods, and jobs while preserving the health of the ocean ecosystem.”
Oyetola explained that the Marine and Blue Economy sub-sector comprises Maritime Security, Maritime Infrastructure, Maritime Shipping, Ports and Terminals, Inland Waterways, Marine Living (Fishery and Aquaculture), Marine Non-Living (Seabed Pipe and cable, Seabed mining), Marine Technology, Marine Biotechnology, Blue Energy and Coastal Tourism among others.
“As the pioneer minister, therefore, part of my primary responsibility is to lay a solid foundation for the ministry, so as to position Nigeria as a premier maritime nation by utilising the potential of its blue economy to diversify revenue, assure sustainable development, and cultivate environmental stewardship.
“All these can only be achieved by formulating and implementing policies, programmes, and initiatives that will facilitate the development of an inclusive maritime and blue economy, driven by an operating environment that meets global best standards”.
The Minister also revealed that the “Ministry is working in concert with stakeholders to finalise the arrangement for the disbursement of the Cabotage Vessel Financing Fund (CVFF).
“This will assist indigenous shipping operators in acquiring new vessels to enhance indigenous capacity building.
“To advance the Nigerian Blue Economy, we embarked on an extensive four-year implementation plan summarised into four main pillars, each meticulously designed for transformative impact.
“Unlocking this overwhelming potential requires strategic action, and the future holds even brighter possibilities. Our 4-year implementation plan is an economic vision and a blueprint for national transformation.
“It is also a commitment to environmental responsibility, as our marine resources require vigilant stewardship, and by uniting in this endeavour, we pledge to preserve them for future generations” he stated.
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