The Minister of Marine and Blue Economy is seeking the cooperation of stakeholders to develop a roadmap and policy direction for the re-establishment of a National Shipping Line through a public, private partnership (PPP) arrangement, to capture a substantial share of the estimated $10 billion yearly ship charter market of the country.
Minister of Marine and Blue Economy, Adegboyega Oyetola, disclosed this at ‘Stakeholders Roundtable Engagement on Advancing Sustainable Development in Nigeria’s Marine and Blue Economy’, held in Lagos.
Oyetola said the move would not impede the growth of local players but would provide an avenue for them to create and extract more value from the sector, especially through ship construction, maintenance and repairs.
According to him, it would enable the country’s local businesses to leverage the Cabotage Act, which gives Nigerians the exclusive right to control locally generated seaborne trade.
Oyetola said the arrangement is part of the move by the ministry to actualise President Bola Tinubu’s eight presidential priorities – economic growth, food security, energy and natural resources, infrastructure development, security, healthcare, education, improved governance and job creation.
To actualise the priorities, he said, the ministry has also moved a step further by putting up this roundtable forum to harvest ideas that would form part of the roadmap and policy direction.
The minister said areas to be looked at include, strengthening and promoting the blue economy, governance and investment as well as transforming and enhancing port operations and infrastructure.
He said the roadmap is designed in such a way as to enable the ministry to fulfill its mission of formulating and implementing policies, programmes and initiatives that will facilitate the development of an inclusive Marine and Blue Economy Ecosystem, driven by an operating environment that meets global best standards.
Oyetola said it will also fulfill the ministry’s vision of positioning Nigeria as a premier maritime nation by utilising the potential of its blue economy to diversify revenue, assure sustainable development and cultivate environmental stewardship.
The minister described Nigeria as a jewel in Africa, with her expansive coastline stretching over 853 kilometres along the Atlantic Ocean and a network of potentially navigable waterways covering 10,000 km across 28 of her 36 states.
He said the marine and blue economy stands as a pivotal sector to foster sustainable economic growth of the nation.
Speaking on the aim of the forum, Oyetola said it was convened to bring together players in the sector to discuss and chart a roadmap/direction that will advance the industry’s potential, promote sustainable blue economy investments and ensure global competitiveness within the sector.
The minister said this engagement forum is crucial to the development of the sector as it offers an opportunity for everyone to collectively contribute their perspectives, ideas and offer relevant inputs that can propel the sector to the trajectory of success necessary to support the development of the economy.
“It is no longer business as usual, as there is an urgent need for a collaborative effort to brainstorm and devise strategies to leverage our marine resources for the betterment of the economy and safety of our planet. We must come up with practicable ways of ensuring that our inland rivers, lakes and waterways are well utilised for cargo shipment and passenger transportation.
