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Nigeria Needs To Maximise The Potential Of The Blue Economy

Published

1 year ago

Sep 9, 2023.

Creating a special Ministry of Maritime Affairs in Nigeria has been a big desire for people involved in the maritime sector for a long time. They believe this is crucial because Nigeria has many untapped ocean resources. This move could also help the government diversify its economy and rely less on the oil industry.

Many experts think that having a dedicated ministry for the maritime sector will help the government use the resources in the ocean effectively. It could boost the government’s income and create more jobs for Nigerians.

Globally, more than 80 per cent of all trade happens through the maritime sector. This is a big deal because it means a lot of wealth for countries and job opportunities. Nigeria has a vast coastline of about 853 kilometres and navigable inland waterways covering approximately 3,000 kilometres. These water resources can lead to various economic activities like fishing, tourism, shipping, and mining, apart from petroleum.

Now, the need to diversify Nigeria’s economy is essential because the country has been too dependent on oil. The “blue economy” concept is all about using ocean resources sustainably, and it aligns with Nigeria’s maritime potential.

The blue economy isn’t just an excellent idea; it’s a call to action. It reminds us that the seas and oceans are vital for our survival. Climate change also affects them, with rising temperatures, sea levels, and extreme weather. This situation can harm the environment and our health.

To tackle these challenges, countries worldwide are working together to reduce the impact of climate change. Nigeria even hosted a special “Blue COP” event under the United Nations Climate Change Conference (UNFCCC) to discuss this.

Making the blue economy work needs teamwork, not just from Nigeria but also from other countries. We must manage ocean resources carefully; this is where “Marine Spatial Planning” comes in. It’s like a tool to ensure everyone uses the seas and oceans safely and wisely. It also encourages better communication among ocean users.

Educating the public and stakeholders is important, too. We can’t keep dumping waste and overusing resources in the oceans like before. With the Ministry of Marine and Blue Economy in place, Nigeria is taking a big step to diversify and develop sustainably.

This new ministry shows that the government is serious about reducing its dependence on oil and exploring the vast potential of the maritime sector. Shipping, for example, can become even more important than oil with the right policies. Dr. Bashir Jamoh, the head of the Nigerian Maritime Administration and Safety Agency (NIMASA), has been a strong supporter of the blue economy. He believes it’s crucial for Nigeria’s growth.

Under his leadership, NIMASA has been working with the private sector to get support for the blue economy. This initiative doesn’t just benefit the economy but also creates jobs and boosts foreign exchange earnings.
The visit of the Secretary-General of the International Maritime Organization (IMO), Kitack Lim, to Nigeria in 2022 for the “Igniting the Blue Economy” summit shows how important this initiative is globally. Many private sector stakeholders pledged their support.

Environmental expert Professor Oladele Osinbajo stressed the need to protect the oceans for future generations. He said we must preserve the environment for our children.

With the Ministry of Marine and Blue Economy, Nigeria is entering a new era of growth and environmental protection. Working together, researching, and listening to experts will help us make the most of the blue economy.

As we congratulate the new minister, Adegboyega Oyetola, we look forward to smooth sailing in Nigeria’s maritime affairs, setting the course for a sustainable and prosperous future.

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