NIMASA urges investors to harness gains of secured Gulf Of Guinea

The Director General of Nigerian Maritime Administration Agency (NIMASA), Bashir Jamoh, has said that a well-developed blue economy is strong enough to service Nigeria’s annual budget, because it encompasses all economic activities associated with the oceans and seas.

Jamoh, represented by the NIMASA’s Executive Director of Finance and Administration, Chudi Offodile, at the third edition of the Nigerian Admiralty Law Colloquium for Justices of the Supreme Court and Court of Appeal and Judges of the Federal High Court, in Lagos, said that despite the endowments and abundant resources in the nation’s oceans and seas to back her economic diversification and development drive, Nigeria was yet to take full advantage of the emergent ocean economy to expand its revenue base.

He, therefore, urged investors to exploit the abundant ocean resources at a time the Gulf of Guinea is more secure.

According to him, “Since the concept of the blue economy began to gain traction decades ago, maritime nations have been harnessing the full benefits of the ocean economy by protecting their oceans and seas, which is why NIMASA is working tirelessly to secure our waters and the Gulf of Guinea. The time has come for us as a nation to build on the successful achievement of security in the Gulf of Guinea and work intentionally to harness the profitability of our maritime space.”

The Chief Justice of Nigeria and Chairman, Board of Governors of the National Judicial Institute, Hon. Justice Olukayode Ariwoola, said that the judiciary has a role to play in all legal forms of fight against piracy, noting that a secured maritime domain was vital to economic development and advancement.

The CJN who was represented at the event by Justice Musa Dattjo Muhammad, said that he was pleased with the 2023 edition of the Nigerian Admiralty Law Colloquium, because it was tailored towards effective and efficient adjudication of cases as well as curbing the menace of piracy within the Gulf of Guinea.

He observed that the Gulf of Guinea was richly endowed and that it was necessary for key players in the maritime sector to continually engage in constructive discussions to achieve the benefits associated with the maritime industry.