The Minister of Marine and Blue Economy, Adeboyega Oyetola, on Wednesday, consented that harnessing innovation, embracing sustainability, and fostering collaboration between government, academia, and the private sector would create a thriving marine and blue economy that can contributes significantly to Nigeria’s sustainable development.
Speaking at the 2024 International Conference of the Institute for Entrepreneurship and Development Studies (I FEDS), Obafemi Awolowo University, Ile-Ife on Wednesday, the minister also urged Nigerians to work together to unlock the potential of oceans and coastal resources by creating prosperity for people while preserving the health of our marine ecosystems for generations to come.
Oyetola who was represented by the Managing Director Nigerian Ports Authority, Dr. Abubakar Dantsoho, also noted that future of Nigeria is blue, and it is up to Nigerians to shape it.
The Minister who spoke on the theme: “Advancing Entrepreneurship Education and Practice for Sustainable Development in Africa” stressed that the Marine and Blue Economy represents a blue gold mine of entrepreneurial opportunities for African entrepreneurs and researchers.
According to him, “I stand before you not just as the Minister of Marine and Blue Economy, but as a partner in our collective journey towards sustainable development and economic prosperity.”
He said: “The Marine and Blue Economy represents a frontier of immense potential for Nigeria and indeed, all of Africa. It is a sector that, if harnessed correctly, can drive innovation, create jobs, and contribute significantly to our national and continental GDP.”
He posited that for the purpose of the conference, “I will be discussing Entrepreneurial Opportunities in the Marine and Blue Economy, with an emphasis on the synergies that must exist between academic institutions like Obafemi Awolowo University, the government and private sector to fully optimise these opportunities.”
He noted that as “the Minister for the Marine and Blue Economy, it is with great pleasure that I outline the existing opportunities within this sector and shed light on the initiatives we are currently enacting to fully tap into the rich potential of Nigeria’s marine and blue economy sector.”
Oyetola emphasised that, “Nigeria has an expansive coastline of 853 kilometres along the Atlantic Ocean, and a maritime area of 46,000 square kilometres within the Gulf of Guinea. Our marine resources are both vast and varied. Our exclusive economic zone spans over 200 nautical miles, achieving a recent extension of 16,300 square kilometres -approximately five times the size of Lagos State.
“Additionally, Nigeria features an extensive resource of inland waterways, with the potential to support an intra-regional trade sphere through a length of 10,000 kilometres. Strategically situated navigational routes link Africa with North and South America, Europe, and Asia, making the maritime sector a crucial catalyst of our nation’s economy.
“Thus, the blue economy sector promises a wealth of benefits for the growing youth population of our beloved nation, offering scope for innovation, sustainable growth and fruitful entrepreneurial paths.
“The economic prospects offered by our blue economy are substantial and remarkable. In specific terms, I wish to underline some potential entrepreneurial opportunities within the sector:
Entrepreneurial Opportunities in the Marine and Blue Economy.
The Minister of Marine and Blue Economy however highlighted some key areas in entrepreneurial opportunities which he said includes Shipping and Ship Building, Marine Engineering, Naval Architecture, Ship Recycling and Ship Repairs.
Others includes Cadet Training and Seafaring, Freight Forwarding, Shipbroking and Chartering, Ports and Related Services, Port Management, Cybersecurity and Data Science, Maritime Professional Services and Marine Insurance.
Maritime Research and Development: Engaging in maritime research and development involves working on innovative technologies and solutions to address challenges in the maritime sector, fostering growth and sustainability.
The Minister equally posited that there are Maritime Education and Training,
Entrepreneurial opportunities in Subsea Operations, Hydrography and Geophysics, Marine Biotechnology, Underwater Welding and Diving, Seabed Mining, Marine Environmental Management and Youths with degrees in environmental.
While speaking on Maritime Safety and Security he noted that entrepreneurial opportunities in maritime safety and security focuses on protecting maritime assets and ensuring the safety of maritime operations which includes roles in coast guard services, maritime surveillance, and emergency response.
Other opportunities the Minister stressed includes entrepreneurial opportunities in Marine Fisheries Aquaculture,
Fisheries and Aquaculture, Seafood Processing which he noted niche focuses on the processing, packaging, and distribution of seafood products.
Others are Fisheries Science, Marine Tourism and Recreation,
Travel Agency and Consultation, Tourism Conservation and Development, entrepreneurial opportunities in Marine Renewable Energy, Renewable Energy Projects Development and Project Engineering.
Present at the ceremony were Director General NIMASA, Dr. Dayo Moberiola, Chief of Staff to Hon. Minister, Dr. Charles Akinola and General Manager Corporate and Strategic Communications NPA, Mr. Ikechukwu Onyemekara.
Yinka Kolawole
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