We’ll harness the blue economy to draw visitors and increase revenue – Oyetola

By Yemi Olakitan

The Minister of Marine and Blue Economy, Adegboyega Oyetola, has announced that the newly established ministry is prepared to provide infrastructure in lake and coastal-facing towns and cities around the nation in order to draw more tourists to the seas for optimum revenue production.

Oyetola also reaffirmed his ministry’s commitment to fortifying Public Private Partnership agreements in order to eliminate excessive fees for crude oil exporting and address the threat posed by Charter Vessels.

The majority of the prawns that are brought into the country come from its waters, thus he also urged the need to invest in the fishing industry.

As part of his tour of the ministry’s agencies, the former governor of Osun State made these remarks while on a working visit to the Lagos office of the Nigerian Maritime Administration and Safety Agency (NIMASA) recently.

During his interactions with the agency’s management and workers, Oyetola stated that every effort would be made to fully use the nation’s marine potential, boost income production, and stop the flow of capital out of the sector.

The minister was pleased with NIMASA’s Modular Floating Dock, which he claimed will further aid in creating jobs for Nigerians.

The nation needs a national carrier, particularly through a PPP arrangement, to tackle the difficulty, according to Oyetola, who criticised the charges for charter vessels that carry crude.

The NIMASA Modular Floating Dock has the ability to create jobs and stop capital flight, so I’m really interested in it, he said.

But in order to be perceived as collaborating for Nigeria’s expansion and development, we must find a means to ensure stakeholder buy-in in all we do.

“In a same vein, I am certain that we require a national carrier, particularly in a PPP agreement. We are essentially the only OPEC member that still contracts ships to transport its crude, with 30% of the cost going to freight. We need to circumvent it.

“Once more, most Nigerians are unaware that the majority of the prawns imported into our nation come from our waters. As a result, it is now necessary to stop it by getting involved.

“I have travelled to Barbados before, so I am aware of the costs associated with seaside tourism alone. Nigeria also possesses the necessary components to draw tourists to its seas. For this reason, we will be building the infrastructure in lake- or coastal-facing cities and villages.

The National Bureau of Statistics (NBS) reports that the fishing sector contributed 0.9% to the country’s third-quarter GDP in 2021 and 1.09 percent in 2020. It is believed that we import a net amount of fishing goods.

“But we’re committed to change the story by taking steps to make Nigeria a significant player in that arena.

“Of the projected 47,000 km of coastline in Africa, Nigeria accounts for around 853 kilometres. Nigeria’s coastal and marine habitats total 70,000 square kilometres, making it one of the largest wetlands in the world. There are certain nations that only receive their income from the tourism industry.”

Oyetola stated that repositioning the sector was non-negotiable while urging NIMASA employees to recommit to providing high-quality services and to the present administration’s Renewed Hope Agenda.

“We all have a responsibility to reposition this industry for the benefit and well-being of Nigerians, as I recently informed your counterparts at the Nigerian Ports Authority, or NPA. Through this innovative ministry, we could boost our economy and add more jobs. To fulfil the Renewed Hope Agenda, we must put all of our resources to use.

“Those internal issues that are interfering with your smooth functioning will be investigated on our side as a ministry with a view to addressing them one at a time. We will start working on the external ones right away.

“I have complete faith in your competence and commitment, and I am looking forward to seeing NIMASA’s ongoing success in guiding the direction of our maritime industry. We can create a robust blue economy together that benefits everyone,” Oyetola said.