Nigeria’s blue economy potential could be a promising alternative to the country’s heavy reliance on crude oil if effectively harnessed.

Director-General of National Centre for Technology Management (NACETEM), Dr. Olusola Odusanya, told reporters yesterday in Abuja.

He lauded the President Bola Tinubu administration for establishing a dedicated ministry to drive the development of the blue economy and marine resources.

Odusanya noted that the nation’s vast under-utilised blue economy offers huge opportunities for growth and development to overcome its present economic challenge.

According to data from the Nigerian Maritime Administration and Safety Agency (NIMASA), it is estimated that the country’s untapped blue economy potential is valued at $296 billion.

The NACETEM boss explained that sustainable exploitation of resources in the blue economy could lead to job creation, improved food security, tourism and infrastructure development, green energy, among other benefits.

He called for introduction of ‘single fishery resources’ with the help of technology, stressing that the agency had keyed into the eight-point agenda of the current administration.

Odusanya hinted that the agency would update its audit report online from January 2024, adding that it is ready to provide data of certified engineers to enable science, technology and innovation planners to make informed decisions.

The organisation, according to him, is designed to train middle and high level manpower in the science, technology and innovation sector.