Aaior K. Comfort
The Minister of Marine and Blue Economy, Adegboyega Oyetola, has urged private sector investors to capitalize on the vast potential of Nigeria’s marine and blue economy sectors. Speaking in Abuja during the Broad-Based National Stakeholders’ final Validation Workshop for the Draft National Blue Economy Strategy, Oyetola highlighted the importance of investor involvement in promoting economic growth and job creation.
He emphasized that the marine sector could significantly contribute to Nigeria’s gross domestic product (GDP) by fostering the establishment of numerous small and medium-sized enterprises over the next decade. “I encourage the private sector and investors to seize the opportunities presented by various government-led programs and initiatives aimed at promoting business in the Marine and Blue Economy sectors,” Oyetola stated.
Oyetola noted that Nigeria’s coastline and diverse marine resources offer substantial potential in various sectors, including fisheries, aquaculture, tourism, marine transport, maritime security, renewable energy, and mineral resources. He asserted that a well-structured framework would enable stakeholders to harness these opportunities effectively.
“Our focus includes boosting blue food production, creating jobs, building climate-resilient coastal communities, and ensuring prosperity for future generations,” he added. The minister also mentioned the alignment with the Blue Belt Initiative, which aims to sustainably utilize ocean resources to drive economic growth while preserving marine ecosystems.
He expressed gratitude to the African Union Inter-African Bureau for Animal Resources (AU-IBAR) and the Kingdom of Norway for their support in developing Nigeria’s National Blue Economy Strategy document. This strategy is intended to shape actionable policies for sustainable ocean and marine resource management.
Georges Mba Asseko, the AU representative, echoed Oyetola’s sentiments, stating that Nigeria has the potential to become a global leader in the marine and blue economy sector. He urged collaboration among various stakeholders, emphasizing the need for integrated approaches across sectors like fisheries, transport, and the environment to maximize the use of Africa’s aquatic resources.
“There is room to develop sectors where we already think we are involved, but we are not effectively competing globally,” Asseko remarked. He pointed out that despite Nigeria’s abundant fisheries resources, the country is not currently a leader in the global fisheries arena, stressing the importance of unity among different sectors to achieve this goal.
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