FG reveals intentions on Marine, Blue Economy

FG reveals intentions on Marine, Blue Economy

The federal government has announced its intention to unveil a strategic roadmap for the Federal Ministry of Marine and Blue Economy.

This revelation was made by the Minister of Marine and Blue Economy, Mr. Adegboyega Oyetola, during a panel discussion at the 29th session of the Nigeria Economic Summit Group (NESG), held under the theme: “Pathways to Sustainable Economic Transformation and Inclusion.”

Minister Oyetola emphasized the significance of the summit, underscoring that its outcomes would be instrumental in positioning Nigeria as a hub for maritime trade and related services in the African region.

In a statement signed by Olujimi Oyetomi, the Director of Press and Public Relations of the Ministry of Marine and Blue Economy, Minister Oyetola conveyed the ministry’s commitment to engaging with industry stakeholders in the maritime and blue economy sector. He acknowledged the pivotal role of the maritime sector in facilitating business operations within Nigeria, an import-dependent economy.

Oyetola articulated the need for swift progress in enhancing the navigability of waterways, optimizing port infrastructure, expediting cargo clearance to 24 hours, and establishing efficient road and rail networks connecting ports to the hinterlands. The Minister acknowledged that the maritime sector faces numerous challenges, including slow legislative reforms, weak sector governance, infrastructure deficiencies, ineffective port management, inadequate road networks, and the dominance of foreign shipping companies.

Looking ahead to the ministry’s objectives over the next four years, Minister Oyetola emphasized the necessity of overcoming these challenges by introducing new business models, continually dredging inland waterways, and obtaining presidential approval for the use of scanners in port operations. He cited the global trend of digitizing seaports to enhance efficiency and reduce human intervention, which can lead to delays and corruption.

The Minister underscored the importance of digitalization in making Nigerian ports a maritime hub for West and Central African countries. He advocated for strict digitalization across all port operations and an immediate overhaul of Nigerian ports to modernize facilities and elevate their status, enabling them to compete effectively with advanced maritime nations.