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Nigeria targets N2.5trillion from Blue Economy – NIS

Nigeria targets N2.5trillion from Blue Economy - NIS
Nigeria targets N2.5trillion from Blue Economy - NIS (Photo: Nairametrics)
The Nigeria Immigration Service (NIS), has expressed that Nigeria is blessed with rich natural resources in the ocean and if given serious attention, can accrue over N2.5trillion from the global blue economy annually.
The NIS Acting Comptroller General of Nigeria Immigration Service Caroline W. Agepoju, made the assertion, at a One Day workshop on Blue Economy, organised yesterday in Port Harcourt, by the agency, Rivers State command.
Speaking on the theme: “The Coastal of State of Rivers and Benefits of the Blues Economy: Stakeholders Perspective”, Adepoju stressed that the ocean holds huge opportunities for developing countries to build more innovative and resilient economies.
She said although climate change, environmental pollution and criminalities on the waterways are threats to those opportunities and the livelihoods of about three billion people who rely on the ocean for food and income, but insisted that marine economy has more resources than that of the land.
Adepoju disclosed some of the benefits of blue economy to include that: “N2.5trillion can accrue to Nigeria from Blue Economy”, stressing that “The Oceans is 72% of the world covered by body of water. The Seabed – 90% of deposit is yet to be explored. 2.2 Million species are yet to be discovered by experts”.
She noted that “80% of goods and services comes into the country through shipping transportation”.
The NIS Comptroller General said the topic chosen, by the organisers was timely and apt with respect to the renewed hope agenda of President Bola Tinubu and his special consideration and priority for the creation of Ministry of Marine and Blue Economy.
Explaining that the seaport is the coastal gateway into the Nation, especially in Rivers State and in the eight Coastal states of the country, Adepoju said “It is very important in the sustainability of the economy of this country in the area of blue economy and its derivatives.
“Ocean Economy offers many opportunities and we must strike the right balance between benefitting from the ocean and protecting its resources. Global Blue Deal could drive more investment into emerging sustainable sectors that could benefit developing countries”.
She added that “There is opportunity not only to preserve the Nigeria’s trader strengths but also look afresh at how Nigerian-based actors play their roles in promoting international trade in the Maritime Industry, oil and Gas and allied Services”.
Adepoju added that all stakeholders must ensure high standard of business integrity by “Ensuring transparency in transactions, proper documentations eschewing corrupt practices, avoiding extortion and other sharp practices that may be contrary to economy growth and development.
In his remarks, Governor Siminalayi Fubara expressed the optimistic that the workshop would deliver on its objectives, and bring the desired change that will boost the Rivers State economy and internally generated revenue.
Represented by the Secretary to the State Government, Tammy Danagogo, Fubara thanked the Nigerian Immigration Services for the laudable initiative, and enjoin others to support the Federal Government to harness the nation’s abundant natural resources.
The Rivers State governor stated that “the blue economy is a welcome development because of its underlying opportunities ranging from its green infrastructure in the area of renewable energy, maritime, tourism, offshore oil and gas, aquaculture, shipping and logistics, marine biotechnology etc”.
As a state government, Fubara said “we shall give our full support to the blue economy project through sustained policies and regulations. We shall encourage private and public sector participation for the overall benefit of our dear state and beyond.
“Let me assure you that we shall explore possible areas of collaborations with the federal government at the Ports to unlock the huge potential of the blue economy. We shall continue to support the Nigerian Immigration Services, the military, police, other para-military and security agencies in their various operations to fight insecurity and other vices in the State”.
Participants at the event include; representatives from the Nigerian Navy, Nigerian Port Authority, Shippers Council, NIMASA, state government officials and other stakeholders.

Techrectory with Agency Report.

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