How Nigeria will benefit from untapped blue economy potentials — NACETEM DG

The Director General of the National Centre for Technology Management (NACETEM), Dr Olusola Odusanya, has described the huge untapped potential in Nigeria’s blue economy as a gold mine.

Speaking in Abuja, Odusanya commended the President, Bola-Ahmed Tinubu, for establishing a dedicated ministry to drive the development of the blue economy and marine resources.

The DG stated that the country’s vast underutilised blue economy offers huge opportunities for growth and development as well as serving as an alternative source of income for Nigeria.

He said that according to data from the Nigerian Maritime Administration and Safety Agency (NIMASA), it is estimated that Nigeria’s untapped blue economy potential is valued at $296 billion.

“The fact that this new government recognises the need to set up a Ministry of Blue Economy is indicative of the fact that we are conscious that certain losses are there. When you talk of the biological or living part of the blue economy, we are not playing any significant role there.

“Our resources are under-fished. Because most people come with all this equipment and they see that there is a school of fish in abundance, they tend to come to Nigeria during the process of shipping oil and gas resources.

They also keep a tank where they take some fish along because there is an abundance. And most of our fishermen cannot go to the intercontinental shelf, where the waters are calmer and you can approach the fishery resources there.

“This is simply because the boats they use are ill-equipped to go that distance. So you can see why we are not even able to get to where our resources are. It is like you have a forest, and you don’t even know the extent of the forest. So, how can you now determine what you are using?” he questioned.

The DG urged the government to harness the potential within the sector in order to reduce Nigeria’s overdependence on oil for revenue generation.

Odusanya also revealed that NACETEM would put its audit report on its website in January 2024, noting that the agency is ready to provide data from certified engineers to enable science, technology, and innovation planners to make informed decisions.

The agency, according to him, is designed to train middle- and high-level manpower in the science, technology, and innovation sectors.

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