• Friday, July 12, 2024
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FG committed to making Nigeria the maritime hub of West Africa — Oyetola

Setting sail for a brighter future: Why the Marine and Blue Economy Policy matters

Adegboyega Oyetola, the minister of marine and blue economy has stated that the federal government is committed to addressing the challenges in maritime to make the sector the best in West Africa and beyond.

Oyetola disclosed this on Thursday, June 13, 2024, while giving his remark at the maritime conference organised by BusinessDay Media Limited.

“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 the 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 Limited in his welcome address said the maritime sector is a very critical 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 that sometimes Nigerians get carried away with criticisms to know and notice the good things that are happening in the sector.

The conference offers stakeholders the opportunity to connect, collaborate, and innovate; as industry leaders, government officials, international experts and financial institutions aim to create a dynamic environment where ideas can flourish, and solutions proffered.