NEWS AGENCY OF NIGERIA

Harnessing Nigeria’s Blue Economy for growth, sustainability

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A News Analysis by Diana Omueza, News Agency of Nigeria (NAN)

Nigeria’s vast coastline and abundant marine resources remain largely untapped, in spite of their enormous potential in the blue economy.

Analysts argue that, if properly harnessed, the sector could drive substantial economic growth and sustainability.

They believe Nigeria stands to benefit greatly from the blue economy, unlocking new opportunities for prosperity.

According to the World Bank, the blue economy ranks as the seventh largest in the world, valued at 1.5 trillion dollars annually, with projections to double to 3 trillion dollars by 2030.

Recognising this potential, President Bola Tinubu established the Ministry of Marine and Blue Economy in August 2023.

Led by Mr Adegboyega Oyetola, the ministry is tasked with ensuring that Nigeria’s marine resources are responsibly managed to improve citizens’ livelihoods while preserving the country’s coastal ecosystems.

Oyetola, the first Minister of Marine and Blue Economy, has emphasised that fully harnessing the sector could lift many Nigerians out of poverty and create widespread prosperity.

However, he stressed that achieving this requires innovation, collaboration, and adequate funding to develop a thriving industry that benefits present and future generations.

To support this goal, he recently presented a capital budget proposal of 11.77 billion naira and an overhead budget of 453.86 million naira for the ministry’s 2025 budget to a joint committee of the National Assembly.

During the budget defence, he noted the need for greater financial allocation, as substantial capital investment is essential for the ministry to fulfil its mandate.

“The proposed total of 11.77 billion naira and an overhead of 453.86 million naira though inadequate, is presented for your kind consideration,” he told the committee.

Oyetola outlined several pressing issues within the sector, including deteriorating infrastructure, silted river courses, inadequate fish production, and a shortage of river transport vessels, all requiring urgent intervention.

To address these challenges, he proposed key initiatives such as replacing outdated wooden boats with standardised crafts, distributing life jackets to riverine communities, and conducting capital dredging in major rivers.

He stressed that all projects are aligned with government capital budgets to ensure timely execution and enhance food security.

However, he warned that insufficient funding would hinder the ministry and its agencies from sustaining the progress made over the past year.

Chairman of the Senate Committee on Marine Transport, Mr Wasiu Eshinlokun, acknowledged that the proposed budget seemed inadequate for capital-intensive projects such as dredging.

He assured that the proposal would be reviewed by the appropriation committee to ensure appropriate funding.

Meanwhile, he advised the minister to incorporate long-term, high-cost projects into the 2026 budget for better financial planning.

Speaking at a stakeholders’ workshop in Lagos, Oyetola also called for the development of a National Policy on Marine and Blue Economy to establish a sustainable framework for growth.

He noted that beyond funding, Nigeria requires a comprehensive national policy to maximise its extensive marine resources.

He explained that such a policy would strengthen the sector, create jobs, promote sustainability, and drive economic growth through industries like fisheries, aquaculture, maritime transport, and tourism.

“We aim to deliver a national policy document that clearly outlines the roadmap for developing our blue economy.

“We want to create jobs, attract private sector investment, and deliver inclusive prosperity to all Nigerians, particularly our youth and women.

“The National Policy we seek must be comprehensive enough to address all challenges and unlock the sector’s full potential.

“A robust policy will enable us to tackle these issues through a framework aligned with international best practices while safeguarding our marine resources for future generations,” he added.

Oyetola emphasised that with proper funding and a well-structured policy, the blue economy presents a transformative path for countries seeking to balance economic growth with environmental sustainability.

He maintained that Nigeria is no exception.

The minister also highlighted significant progress in maritime governance, including Nigeria’s three-year record of zero piracy incidents, the ratification of key international protocols, and advancements in port modernisation.

These achievements, he noted, provide a strong foundation for the sector’s continued growth and the successful implementation of the proposed policy.

Additionally, he reiterated Nigeria’s commitment to combating illegal, unreported, and unregulated (IUU) fishing, which poses a major threat to the country’s fisheries and aquatic ecosystems.

He also reaffirmed Nigeria’s bid for Category C membership in the International Maritime Organisation (IMO) to enhance its influence in global maritime governance.

Oyetola expressed optimism that a national policy would significantly impact job creation, youth empowerment, and poverty alleviation, particularly in coastal communities.

He stressed that the blue economy has immense potential to create wealth for Nigeria’s growing youth population, drive innovation, and foster sustainable development, provided the right measures are implemented.

Supporting this vision, Mr Olufemi Oloruntola, Permanent Secretary of the Ministry of Marine and Blue Economy, commended the minister’s commitment to shaping a maritime policy that allows diverse stakeholders to contribute to its development.

He emphasised that their participation is crucial in advancing the marine and blue economy for national growth.

Experts and industry leaders have also praised President Bola Tinubu’s Renewed Hope Agenda, particularly the creation of the ministry to unlock Nigeria’s marine potential for economic expansion.

Mr Akutah Pius, Executive Secretary and Chief Executive Officer of the Nigerian Shippers’ Council (NSC), described the Ministry of Marine and Blue Economy as pivotal to achieving Nigeria’s National Gross Domestic Product (GDP) targets.

During a visit to Tin-Can Island Container Terminal (TICT) and Port and Cargo Handling Services (PCHS) in Lagos, Pius expressed confidence that the sector could contribute to the federal government’s objective of increasing GDP to 1 trillion dollars by 2026.

He also believes it could help achieve the goal of reaching 3 trillion dollars by 2030.

However, he cautioned that achieving this goal requires comprehensive reforms to enhance port efficiency.

Meanwhile, Vice-Admiral Emmanuel Ogalla, Chief of the Naval Staff (CNS), underscored the importance of Nigeria’s underwater resources at the 14th Trans-Regional Seapower Symposium in Venice, Italy.

He noted that over 85 per cent of Nigeria’s trade volume relies on these resources, which include diverse aquatic species and significant non-living assets such as 36 billion barrels of crude oil and 182 trillion cubic feet of gas reserves.

Speaking on “Preserving the Underwater – the Secure and Sustainable Use of the Underwater”, Ogalla referenced the African Integrated Maritime Strategy (AIMS), which recognises these resources as critical to Africa’s blue economy.

He added that Nigeria’s maritime interests span internal waters, the territorial sea, the Exclusive Economic Zone (EEZ), and the Gulf of Guinea.

“The Nigerian Navy’s participation in the symposium showcased its success in eliminating piracy from Nigerian waters since 2022, leading to Nigeria’s removal from the International Maritime Bureau’s list of Piracy-Prone States,” he said.

Ogalla stressed the importance of sustainably managing marine resources, as they are key drivers of economic growth and food security.

He reaffirmed Nigeria’s role in maritime security, particularly in the Gulf of Guinea, and detailed how the Nigerian Navy’s Total Spectrum Maritime Strategy—which integrates surveillance, rapid response, and law enforcement—has helped maintain the country’s piracy-free status since March 2022.

To further advance Nigeria’s marine sector, experts, including African shipowners, have urged the swift implementation of a national maritime policy to guide sustainable development.

Ms. Funmi Folorunsho, Secretary-General of the African Shipowners Association, asserted that a well-structured policy would provide a clear roadmap for growth and position Nigeria as a leading player in the global marine economy.

Similarly, Mr Abdussamad Dasuki, Chairman, House Committee on Shipping Services, reaffirmed the 10th National Assembly’s commitment to working closely with the Ministry of Marine and Blue Economy.

As Nigeria strives to harness its blue economy, stakeholders emphasise that government support, private sector collaboration, and adequate funding are essential.

These factors will be key to unlocking the sector’s full potential while preserving coastal ecosystems. (NANFeatures)

Why Nigeria needs National Coast Guard—Minister

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By Kingsley Okoye

The Minister of Marine and Blue Economy, Adegboyega Oyetola, says there is need to strengthen the collaboration between the ministry and the Nigerian Navy in safeguarding Nigerian maritime space as it is done in other climes.

Oyetola made this submission on Thursday in Abuja at the Senate public hearing on the Nigerian Coast Guard Establishment Bill 2024.

The News Agency of Nigeria (NAN) reports that a bill to establish the Nigerian Coast Guard recently scaled second reading in the Senate.

The minister said it was important to give credit to the Nigerian Navy for its achievements in safeguarding the Nigerian maritime space and giving Nigeria a good image worldwide.

Oyetola said the collaborative effort between the ministry and its agency–the Nigerian Maritime Administration and Safety Agency (NIMASA) in the Deep Blue Project had shown great results with zero piracy in Nigeria territorial waters in the last three years.

“However, there is a need to further complement the efforts of our Navy as it is done in other climes.

“According to a 2009 publication by the Africa Centre for Strategic Studies, 15 out of the 21 independent maritime nations in sub-Saharan Africa have dedicated coast guards that identify themselves as such and none has our population and many of these countries do not have the length of our inland waterways or coastline.

“Also, a 2015 publication by the Institute for Security Studies of the National Defence College of Nigeria highlighted the impact of activities such as illegal, unregulated and unreported fishing in the inland waters, coastal and marine fishing zone in sub-Saharan Africa.

“These illegal activities are estimated to cost the region approximately between 3 billion dollars to 5 billion dollars a year in lost revenue.

“The Lagos – Calabar Coastal Highway development is a major game changer for the entire coastline of the country.

“The project is expected to unlock the regions blue economy potential– hotels, beach resorts, water parks, eco-parks, ferry services, hospitality industries, industrial parks and more are soon to spring up along the coastline.’’

The minister said that such an increase in economic activities would require a dedicated institution that would be responsible for ensuring maritime safety, search and rescue, environmental protection and the enforcement of civil maritime laws.

According to him, the spate of boat mishap within the nation’s inland waterways is also a strong justification for the need to strengthen our maritime safety and the enforcement of maritime laws and regulations in the inland waterways.

“This is necessary to boost maritime trade and trans-shipment in Nigeria.

“Also, considering Nigeria’s critical position in the maritime domain on the continent and globally, the establishment of a National Coast Guard will further increase our standing in the comity of maritime nations. This will no doubt attract foreign support and assistance.”

Oyetola said that the establishment of the Coast Guard was aimed at maritime safety–by establishing clear protocols, enforcing safety regulations, and overseeing navigation routes in our inland waterways.

He said the Coast Guard would play a critical role in safeguarding lives, property and trade within Nigeria’s coastal and inland waterways.

The minister said that the Coast Guard would respond rapidly to maritime emergencies, conducting timely and efficient search and rescue operations.

“The Coast Guard will actively work in collaboration with other relevant government agencies to prevent pollution and enforce environmental regulations within Nigeria’s waters.

“Through initiatives focused on conservation and the protection of marine ecosystems, the Coast Guard will support Nigeria’s commitment to environmental stewardship, safeguarding marine biodiversity for future generations.

“Enforcement of Civil Maritime Laws–tasked with upholding laws that govern civil maritime activities, the Coast Guard will enforce fishing laws and regulations, conventions on pollution and other civil maritime offences.

“This function will support sustainable resource management, protect Nigeria’s waters from illegal exploitation and align with international best practices for civil maritime governance.’’

He also spoke on inter-agency collaboration with military/paramilitary agencies

According to him, the ministry is cognisant of the traditional but important roles being played, especially by the Nigerian Navy and the armed forces to protect our waterways and maritime assets through their operations.

He said that the National Coast Guard would ensure effective collaboration with other military and paramilitary agencies.

“To this end, we advocate the setting up of effective and coordinated machinery for seamless collaboration with the Nigerian Navy and other armed forces, as well as key agencies in the country, to further enhance the protection of our maritime resources.

“This will include technology and resource sharing, joint maritime exercises, missions and training to enhance maritime safety and foster cooperation.’’

Oyetola urged the Senate and the National Assembly to lend their full support to the bill.

He said that the Nigerian Coast Guard would act as a vital complement to the Navy, fostering a safe and sustainable maritime environment that was aligned with international best practices.

According to him, the initiative will strengthen Nigeria’s blue economy, protect Nigeria’s natural resources and ensure prosperity for future generations.

“A flexible, adaptive implementation strategy should be evolved to midwife its establishment.

“We also encourage those with reservations to see the pressing need for this institution and rally in support of this historic endeavour,’’ he said.(NAN)

Edited by Chijioke Okoronkwo

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