We’ll explore $7trn potentials in blue economy – Oyetola

The Minister of Marine and Blue Economy, Adegboyega Oyetola says the federal government will explore the potentials of the marine and blue economy, which is estimated at N7 trillion.

Oyetola who stated this yesterday when he resumed at the headquarters of the ministry in Abuja said President Tinubu heeded experts recommendations on the huge potentials of the sector, which has been left untapped over 30 years ago, while pledging collaboration with stakeholders to achieve his mandate.

“We must work as a team to deliver on our mandate to find innovative solutions to the challenges we face, ensuring that our oceans and marine life 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. Experts say the blue economy is estimated to be worth more than 1.5 trillion dollars per year globally. Therefore, given our size as a country and considering the size of our blue economy, we should be a significant player in this sector, so as to contribute immensely to the revenue generation of our country and also provide jobs for the unemployed,” he further stated.

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Speaking further, he said the ministry will come up with practicable ways of ensuring that inland rivers, lakes, and waterways are well utilised, both in terms of cargo shipment and passenger transportation which can only be achieved by embarking on a holistic dredging for inland waterways to make them navigable for the passage of goods and people.

He pledged 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.

However, Daily Trust observes that there was a confusion at the headquarters of the agency during the resumption of Oyetola as it was quickly renamed Ministry of Marine and Blue Economy/Transport from the initial Ministry of Transportation.

Subsequently, the Minister of Transportation, Sa’idu Alkali was nowhere to be found at the headquarters of the ministry.

Also, some of the heads of agencies of the ministry of blue economy like Nigerian Inland Waterways Authority and the Shippers Council were present. However, no head of agency under the transport ministry was seen.

Similarly, the Permanent Secretary in the ministry, Dr. Magdalene Ajani and directors at the Ministry of Transportation were also introducing themselves under the Ministry of Marine and Blue Economy/Transportation and no longer Transportation.