Tinubu revamping economy through marine, blue economy ministry — Akutah

The Executive Secretary/Chief Executive Officer (CEO) of the Nigerian Shippers’ Council (NSC), Dr. Pius Akutah, has hailed President Bola Tinubu’s initiative to create the Ministry of Marine and Blue Economy, saying that the country’s maritime resources are now being transformed to include the blue ocean and contribute to overall economic development.

He said the hitherto largely neglected sector, despite Nigeria’s vast ocean resources, had received a turnaround in the last two years with huge foreign investments coming into Nigeria through the National Policy on Marine and Blue Economy.

Akutah, who spoke in Abuja during an audience with members of the Conference of Benue Journalists (CBJ), highlighted the changes witnessed so far.

He stated, “This is a global economy of multi-trillion dollars. Nigeria was not taking advantage of that. We have countries that have a mature blue economy, countries as Canada. Even in Africa, here, you have some countries that have practised the blue economy for some time.

“Nigeria having vast ocean resources, it’s very unfortunate that over the years, we neglected it, even what we have in our ocean as resources, we do not. But today, with His Excellency, Ayetola Adegboyega Oyetola, as Minister of Marine and Blue Economy, he has led us into the first national policy on marine and blue economy. That policy is out there. He is realigning the ministry and the agencies in the sector towards a very sustainable economic development. Today, a lot is happening in the sector.

“There are huge investments coming into the sector; foreign direct investments. Companies operating within the sector have doubled their investments. We are seeing figures that have never been seen before. So, infrastructure-wise, we are improving infrastructure in the port sector. And the port economy is moving now.”

Akutah also spoke on how the changes had rubbed off on the manufacturing and other sectors by stimulating productive activities to promote the shipment of goods and services.

He explained, “If we go to other sectors, like manufacturing, you will agree that over the years, Nigeria wasn’t manufacturing as much. Export was very low, but now that has been stimulated. We see a lot of exports, cargoes going out of Nigeria.

“Ships used to come, vessels used to come to Nigeria and discharge cargo and go back with empty containers.

“But today, Nigeria has started exporting, and we are taking advantage of our membership in the African Free Continental Trade Area agreement that we have signed.

“We are fast developing a maritime logistics hub in Nigeria to service other countries, even in the hinterlands. We are developing inland dry ports and other critical transport infrastructures across the country to bring shipping facilities closer to the people in the hinterlands, and targeting even landlocked countries that will take advantage of this infrastructure, using Nigerian ports for their import and export.

“So, a lot is happening in the field of economy in Nigeria under Tinubu’s watch, and so it is in many other aspects.”

The NSC’s boss acknowledged that some of the policies of the administration were not rosy and were criticised at the initial stage, like the removal of fuel subsidy, but argued that Tinubu had to take the “bold” steps to ultimately rescue a crumbling economy.

Akutah noted, “Despite the initial hardship and public backlash, the decision (fuel subsidy) has freed up more resources for federal, state, and local governments.

“We are now seeing more capital projects and massive infrastructural development across the country.”

He claimed that Tinubu made funds available to all the states to cushion the effects of some policies on the citizenry without minding their respective political affiliations.

Speaking specifically about Benue State, Akutah admitted that the security situation in the ‘Food Basket of the Nation’, like the recent killings in Yelewata community, called for concern and required collective efforts to be addressed urgently.

“It is a trying moment for our state, but we are grateful to Mr President for visiting Benue to share in our pains and for taking steps with the Secretary to the Government of the Federation to address the situation,” he added.

The President of CBJ, Dr Anule Emmanuel, earlier informed the Akutah that the conference was out to protect and promote the development of Benue State and Nigeria at large.

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