Adegboyega Oyetola, minister of Marine and Blue Economy, has urged tertiary institutions in Nigeria to harness blue economy potential for the benefit of youths.
Presenting a paper at the 2024 International Conference organised by the Institute for Entrepreneurship and Development Studies (IFEDS) at Obafemi Awolowo University, Oyetola said entrepreneurial opportunities for wealth creation are benefits for youths in the sector.
Represented by Abubakar Dantsoho, managing director of the Nigerian Ports Authority (NPA), he said there are opportunities in Marine Engineering and Naval Architecture, ship recycling, ship repair, Cadet training, seafaring and freight forwarding.
He also listed ship brokering and chattering, cybersecurity and data science, maritime law and policy, Marine insurance, Marine insurance, maritime education and training, and Maritime research and development.
“There are Fisheries and Aquaculture, Seafood Processing, Fisheries Science, maritime research and development, Maritime research and training, Maritime Biotechnology, underwater welding and diving, and seabed mining,” he said.
The marine and blue economy, according to him, holds the blue gold mine of entrepreneurial opportunities for African entrepreneurs and researchers.
He, however, called on academic institutions across the country to work together with the government to harness the numerous potential inherent in the nation’s ocean and coastal resources
“By harnessing innovation, embracing sustainability, and fostering collaboration between government, academia, and the private sector, we can create a thriving marine and blue economy that contributes significantly to Nigeria’s sustainable development.
“Let us work together to unlock the potential of our oceans and coastal resources, creating prosperity for our people while preserving the health of our marine ecosystems. The future of Nigeria is blue, and it’s up to us to shape it,” he said.
The Minister said synergy must exist between academic institutions, the government and the private sector to optimise opportunities inherent in the blue economy.
“The Marine and Blue Economy is a sector that, if harnessed, can drive innovation, create jobs, and contribute significantly to our national and continental GDP.
“It embodies all economic activities related to our oceans, seas or coastal areas. It includes fisheries, maritime transport, renewable energy, and tourism – areas that all hold considerable potential for economic growth, employment creation and poverty reduction,” he explains.
Citing an example, he said, Norway is renowned for its advances in aquaculture, offshore oil drilling, wind energy, and marine biotechnology – all of which have been pivotal to its economic development.
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