Adegboyega Oyetola, the Minister of Marine and Blue Economy, announced the federal government’s commitment to resolving maritime challenges and positioning the sector as the best in West Africa and beyond. He made this declaration on Thursday, June 13, 2024, during the maritime conference organized by BusinessDay Media Limited.
“With over 853 kilometers 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, realizing this potential requires a concerted effort to address several challenges that have hindered the sector’s growth and efficiency,” Oyetola stated.
The conference aimed to explore ways to unlock the sector’s potential and address its challenges. The maritime sector is crucial to Nigeria’s economy, providing essential infrastructure for trade, commerce, and connectivity. Oyetola, the former governor of Osun State, identified the absence of a national policy and insecurity as key challenges. He noted that the ministry is collaborating with security forces to enhance safety on the waterways.
Frank Aigbogun, publisher of BusinessDay Media Limited, highlighted the maritime sector’s critical role in 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 also pointed out that criticisms sometimes overshadow the positive developments in the sector.
The conference provided a platform for stakeholders, including industry leaders, government officials, international experts, and financial institutions, to connect, collaborate, and innovate. The goal was to create a dynamic environment where ideas could flourish and solutions could be proposed.
Credit: Businessday NG (Text Excluding Headline)
