From Suleiman Amagbor, in Lagos
The Minister of Marine and Blue Economy, Mr. Adegboyega Oyetola has said with the ambitious plans outlined to elevate the country’s maritime sector to global standards, the ministry’s initiatives are aimed at propelling Nigeria into the top 3 ranks of the Presidential Enabling Business Environment Council (PEBEC).
He said the sector’s critical role in the economic diversification and sustainable development of Nigeria as the ministry has prioritized strategic reforms to enhance operational efficiency and attract investments.
Speaking at the 2024 BusinessDay Maritime Conference in Lagos, the Minister enumerated the initiatives to include the implementation of the National Single Window initiative and a Port Community System to automate port processes.
He said the measures were geared towards improving Nigeria’s ease of doing business ranking and fostering a conducive environment for trade and investment.
Speaking on the Ministry’s achievements, Minister Oyetola reported significant progress in revenue generation, driven by innovative strategies to block revenue leakages and explore new sources within the Marine and Blue Economy sector.
He underscored ongoing efforts to upgrade infrastructure, including the development of inland dry ports and modernization projects at key ports across the country.
Furthermore, the Minister highlighted the importance of public-private partnerships (PPPs) in advancing port modernization, dredging activities, and deploying cutting-edge maritime technologies.
He also announced plans for the development of additional deep-sea ports on a PPP basis, aiming to further bolster Nigeria’s maritime capabilities.
While h acknowledged the significant contributions of participants in shaping the discourse on Nigeria’s Marine and Blue Economy, Minister Oyetola underscored the importance of collaborative efforts in achieving excellence within the sector.
He expressed optimism that the insights gained from the conference would drive positive transformations and propel Nigeria towards greater economic prosperity through the harnessing of its vast maritime resources.
Mr. Oyetola also reaffirming his commitment to developing a dynamic national policy framework for the Marine and Blue Economy by the end of 2024 and urged all stakeholders to continue working together towards realizing the sector’s full potential, ensuring sustainable growth and inclusive development across coastal communities.
Whilst he appreciate BusinessDay Media Limited for hosting the prestigious Maritime Conference 2024, he affirmed that the conference served as a pivotal platform for stakeholders to deliberate on critical issues affecting the maritime industry, including policy formulation, infrastructure development, and sustainable resource management.
