In a pivotal address at the BusinessDay Maritime Conference 2024 held at the Oriental Hotel, Lagos, the Minister of Marine and Blue Economy, Adegboyega Oyetola, outlined ambitious plans to elevate Nigeria’s maritime sector to global standards.
Emphasizing the sector’s critical role in economic diversification and sustainable development, Minister Oyetola highlighted initiatives aimed at propelling Nigeria into the top ranks of the Presidential Enabling Business Environment Council (PEBEC).
Under his leadership, the Ministry has prioritized strategic reforms to enhance operational efficiency and attract investments. This includes the implementation of the National Single Window initiative and a Port Community System to automate port processes. These measures are 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.
The Minister also extended his appreciation to BusinessDay Media Limited for hosting the prestigious Maritime Conference 2024. 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.
Acknowledging 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.
The Minister concluded by reaffirming his commitment to developing a dynamic national policy framework for the Marine and Blue Economy by the end of 2024. He urged all stakeholders to continue working together to towards realizing the sector’s full potential, ensuring sustainable growth and inclusive development across coastal communities.
