HomeNewsOsinbajo Tasks Blue Economy Committee On All-Inclusive Policy Document For Maritime Sector

Osinbajo Tasks Blue Economy Committee On All-Inclusive Policy Document For Maritime Sector

Vice President, Prof. Yemi Osinbajo has charged members of the Expanded Partnership Committee on Sustainable Blue Economy in Nigeria, EPCSBEN, to invent a Nigerian version of the Sustainable Blue Economy concept, an all-inclusive approach copy for the maritime sector in line with multinational best methods.

Osinbajo made the call at the fourth meeting of the committee in Abuja recently, where he reiterated that the essence of the Committee is to discuss and bring suggestions on enhancing the blue economy sector of the country.

Represented by Muazu Jaji Sambo, Minister of Transportation, Osinbajo, who is chairman of the group, stated that the body can only attain its objectives if partners work together and avoid self-interest.

According to him, the idea of a Blue Economy is all about the reasonable utilization of ocean resources for financial development, enhanced sources of income, and work product while maintaining the soundness of ocean ecosystems, besides the traditional ocean activities such as marine transport, etc., it necessitates occurring renewable power, seafloor extractive activities, and aquatic biotechnology/bio-prospecting.

The VP clarified that the blue economy tries to adopt ocean ecosystem services that are not represented by the market but provide a remarkable contribution to financial and human activity.

He said, “The concept of Blue Economy is a new frontier targeted at financial development and diversification through the use of resources from oceans, seas, rivers, and lakes for the well-being of people. It also provides a productive contribution to the attainment of the Sustainable Development Goals (SDGs), 2052, African Integrated Maritime Strategy (2052 AIM Strategy), and the UN 2030 Agenda.

“There is no contradiction that Nigeria is favored with vast aquatic and marine resources including oceans, seas, rivers, and lakes with the prospect for the growth of Blue Economy.

“These water bodies are of vital substance and can provide immense opportunities for fisheries, aquaculture, shipping, coastal tourism, offshore oil and gas power lobbying, and other Blue Economy-related activities.

“I, therefore, urge us to bring our capital of knowledge in appropriate areas of discipline to handle in the course of this national project for the benefit of Nigeria. I nudge you all to keep up the amazing and critical work you are doing for the economy” he said.

Also speaking at the event, a technical consultant and an international maritime expert, Dr. Felicia Chinwe Mogo, said the blue economy has the prospect to perform better than other areas of the economy if properly exploited as a whole for investment and job chances.

Recall that at the first meeting of the EPCSBEN on January 17, 2022, it was decided that a sub-committee be included to design the Thematic Working Groups (TWGs) to abet the work of the primary committee.

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