Adegboyega Oyetola, the minister of Marine and Blue Economy has said that the federal government is committed to addressing the challenges limiting the country’s maritime growth and making the sector the best in the West Africa region.
Oyetola disclosed this on Thursday, while giving his remark at the maritime conference organised by the BusinessDay Media.
“With over 853 kilometres of coastline and a strategic position along major global shipping routes, Nigeria has the potential to become a maritime hub for West Africa and beyond.
However, realising this potential requires a concerted effort to address several challenges that have hindered the sector’s growth and efficiency,” he said.
The conference was held to discuss avenues to unlock the potential and overcome challenges in the sector.
Nigeria’s maritime sector is a cornerstone of the country’s economy, providing critical infrastructure for trade, commerce, and connectivity.
The former governor of Osun State cited absence of national policy and insecurity, among others as some of the challenges faced by the sector.
To address these challenges, he said the ministry has collaborated with the force authorities to curb the waterways of insecurity.
Frank Aigbogun, the publisher of BusinessDay Media, in his welcome address said maritime sector is a very critical important sector to every country’s economic development.
“Maritime is a very significant economic source for every country. There are a lot of things happening in the sector in terms of transformation,” he said.
However, he pointed out sometimes Nigerians get carried away with criticisms to know and notice the good things that are happening in the sector.
The conference offers stakeholders opportunity to connect, collaborate, and innovate; as industry leaders, government officials , international experts and financial institution aim to create a dynamic environment where ideas can flourish, and solutions proffered.
