- Minister of Marine and Blue Economy, Adegboyega Oyetola (second right), and the ministry’s Permanent Secretary, Dr. Magdalene Ajani (second left), flanked by others at the ‘Stakeholders’ Roundtable Engagement on Advancing Sustainable Development in Nigeria’s Marine and Blue Economy’ in Lagos
By Anthony Nwachukwu
Another journey towards the establishment of a national shipping line may soon begin as the Federal Government assures maritime stakeholders once again of its intent for a Public-Private Partnership (PPP) model for ship acquisition to transform the sector.
The Minister of Marine and Blue Economy, Adegboyega Oyetola, gave the assurance Tuesday in Lagos at a “Stakeholders’ Roundtable Engagement on Advancing Sustainable Development in Nigeria’s Marine and Blue Economy,” organised by the ministry.
According to him, “the ministry’s decision to consider the re-establishment of a national shipping line, through a strategic PPP arrangement, is borne out of our desire to capture a substantial share of the estimated $10 billion annual ship charter market within the country.
“This initiative will not seek to impede the growth of local players but rather provide an avenue for them to create and extract more value from the sector, especially through ship construction, maintenance, and repairs.
“This would enable our local businesses to better leverage the Carbotage Act, which gives Nigerians the exclusive right to control locally generated seaborne trade.
“Other anticipated outcomes include the creation of substantial job opportunities and the facilitation of increased trade and investment in the nation, reinforcing our collaborative and forward-looking approach.”
Oyetola explained that the forum was convened to bring players in the sector together to chart a direction that will advance the industry’s potential, promote sustainable blue economy investments and ensure global competitiveness within the sector.
He expressed confidence that the expected model – a synergy between the private sector’s efficiency and the public sector’s oversight – would transform the marine economy, create substantial job opportunities and facilitate increased trade and investments in the nation.
“There is an urgent need for a collaborative effort to brainstorm and devise strategies to leverage our marine resources for the betterment of the economy and safety of our planet,” he said.
“It is imperative we come up with practicable ways of ensuring that our inland rivers, lakes and waterways are well utilised for cargo shipment and passenger transportation.
“This engagement forum is crucial to the development of the sector, as it offers an opportunity for us all to collectively contribute our perspectives, ideas, and offer relevant inputs that can propel the sector to the trajectory of success necessary to support the development of the economy.”
He added that to address critical national challenges, the Federal Government recently unveiled such presidential priorities as “economic growth, food security, energy and natural resources, infrastructure development, security, healthcare, education, improved governance, and job creation.”
