Infrastructure decay, high cost of shipping affecting maritime sector, says Oyetola

Adegboyega Oyetola, minister of marine and blue economy, says infrastructure decay and high cost of shipping are affecting the maritime sector.

Oyetola spoke at the second Ehingbeti Blue Economy Project and book launch at the Oriental Hotel, Lekki, Lagos state.

The minister, represented by Dayo Mobereola, director-general (DG) of the Nigerian Maritime Administration and Safety Agency (NIMASA), also mentioned environmental degradation, physical alteration, and destruction of marine and coastal habits as some of the challenges faced by the sector.

“Others are climate change, sea level rise, pollution, both land-based and marine unsustainable extractions from marine resources such as unsustainable fishing and unfair trade practices,” he added.

According to Oyetola, the blue economy sought to promote growth, social inclusion and preservation of livelihoods, while ensuring environmental sustainability of the oceans and coastal areas.

“It covers a number of maritime activities, which include shipping, tourism, fishing, maritime transport, sea bay exploration, marine biotechnology, marine prospecting, among others,” he said.

‘WE WILL STRENGTHEN REGULATIONS TO PROMOTE GROWTH’

Oyetola said the federal government is committed to enhancing port infrastructure and strengthening regulations to promote growth.

He said improving port infrastructure remained a priority for the ministry.

“As a ministry of marine and blue economy, we are going to be focused on enhancing port infrastructure, developing robust marine and blue economy policy and implementation plans,” he said.

“We will be focused on strengthening regulatory frameworks that will spur growth in the maritime sector, fishing illegal unregulated and unreported fishing will be a thing of the past.

“We will also focus on enhancing Nigeria’s maritime security capabilities, sustainable blue economy investment using PPP model to drive investment.

“We will build synergy with all relevant stakeholders and most importantly, create job opportunities and employment in the maritime sector.”

Speaking on the second Ehingbeti Blue Economy Project, the minister said it demonstrated the collective dedication to advancing Nigeria’s new economy and unblocking the full potential of coastal and marine resources.

“The maritime activities in Lagos laid the foundation for the growth and development that we are all witnessing today,” Oyetola said.

“Lagos has always been a leader in Nigeria’s economic development. It is essential that we recognise the critical role of the blue economy in shaping the future of Lagos and indeed Nigeria.

“This role of the blue economy offers a new paradigm shift, one that moves beyond the traditional exploitation of marine resources to a holistic and sustainable approach that considers environmental, social and economic impacts.”

He added that the relevant roles of key parastatals under his ministry underscored the importance of collaboration to improve port operations and enhance maritime safety and security.

Oyetola also called for collaboration to ensure the sustainable management of maritime resources.