FG deploys mechanism for blue economy development in Nigeria
By Fredrick Wright
The Federal Government has inaugurated an Expanded Partnership Committee the opportunities for a sustainable Blue Economy in Nigeria.
The committee, chaired by Vice President Yemi Osinbajo, is composed of state governors, ministers, representatives of military and security agencies and members from the private sector.
The committee’s terms of reference include providing an assessment of the current realities, opportunities and challenges for economic diversification and the growth of a sustainable blue economy in Nigeria.
The committee will also identify and review relevant policies and institutional/capacity-building mechanisms for blue economy development in Nigeria, among others.
Osinbajo’s spokesman, Laolu Akande, in a statement made available to SlyeNews said the Federal Government was set to further explore the economic opportunities available through oceanic and marine resources around the country.
The Blue Economy is the sustainable use of ocean resources for economic growth, improved livelihoods and jobs while preserving the health of ocean ecosystems.
It entails emerging renewable energy, seabed extractive activities and marine biotechnology and bio-prospecting.
Performing the inauguration, Osinbajo said that the blue economy offered a whole new vista of opportunity for economic activity.
On the composition of the committee, the vice president said it had representatives from the states and the geo-political zones, agency representation, Chief of Naval Staff, Comptroller-General of Customs, NIMASA and several other agencies.
He said ministries such as the Ministry of Industry, Trade and Investment, the Ministry of Power, the Ministry of Petroleum, Ministry of Environment were part of the committee.
“There will be several agencies and several interactions between institutions because we are dealing with ports and terminals, oil and gas, the environment, tourism, hospitality – a whole range of economic activities that are connected to what is described as the blue economy,” he said.
