Director-General of the Nigerian Maritime Administration and Safety Agency, (NIMASA), Bashir Jamoh, has said that Nigeria’s vast under-utilised blue economy offers huge opportunities for growth and development and to overcome its present economic challenges.
Blue economy, according to experts, is the sustainable use of ocean resources for economic growth, improved livelihoods and jobs whilst preserving the health of ocean ecosystems.
Jamoh made the assertion in his presentation at The Bullion Lecture, organised by Centre for Financial Journalism held at the Civic Centre, Victoria Island, Lagos, on Thursday, where he was the Guest Lecturer.
Addressing a large audience of experts and stakeholders across sectors in the capacity-filled venue, the NIMASA boss lamented the failure of Nigeria’s successive governments to explore the vast resources that the blue economy offers.
According to him, the blue economy could be used to knock-off Nigeria’s huge debt profile, which drags its development efforts and makes poverty thrive amidst plenty, adding that sea business is in vogue globally and that Nigeria’s future lies in blue economy.
He said Nigeria has over 200 nautical miles available for fishing, yet lacks in the sustainability which the blue economy offers.
He stressed that Nigeria must develop appropriate policy interventions that focus on exploring and exploiting the huge opportunities of blue economy anchored on good governance.
He observed that Nigeria’s economic structure has not provided the window for diversification to thrive because of its inclination to traditional mode of producing goods and services.
Citing what he called the five key pillars of the blue economy, Jamoh said developing the sector hinges on the following: sustainability, promoting ocean resources, preservation of the ecosystem, economic growth and improved livelihood and jobs.
Jamoh also presented real and potential threats to the blue economy which border on criminalities and environmental challenges. These include piracy, smuggling, illegal oil bunkering, kidnapping, human trafficking, encroachment among others.
He enumerated various government assets and projects being implemented by NIMASA, which he said have given Nigerians more leverage to harness the enormous resources of the nation’s maritime environment and the drive towards economic diversification.
