VP Osinbajo leads Committee on Sustainable Blue Economy

The Federal Government inaugurated the Expanded Partnership Committee on Sustainable Blue Economy, to boost Nigeria’s economy through maritime means.

The committee was inaugurated by Vice President Yemi Osinbajo on Monday at the State House in Abuja, with members including state governors, ministers, representatives of military and security agencies.

In a statement by his spokesman, Mr Laolu Akande, he stated that the Blue Economy Agenda is set to further explore the economic opportunities available through oceanic and marine resources around the country.

What the FG is saying

The Vice President’s office stated that the Blue Economy aims at sustainable use of Nigeria’s ocean and maritime resources towards improved economic growth for Nigeria and its citizens.

These include the use of renewable energy, seabed extractive activities and marine biotechnology and bio-prospecting.

Vice President Osinbajo stated that the Committee had representatives from the states and the geo-political zones, agency representation, Chief of Naval Staff, Comptroller-General of Customs, NIMASA and several other agencies. It added that ministries including the Ministry of Industry, Trade and Investment, Ministry of Power, Ministry of Petroleum, Ministry of Environment are also taking part.

“There will be several agencies and several interactions between institutions because we are dealing with ports and terminals, oil and gas, the environment, tourism, hospitality – a whole range of economic activities that are connected to what is described as the blue economy,” he said.

The committee is charged with providing an assessment of the current realities, opportunities and challenges for economic diversification and the growth of a sustainable blue economy in Nigeria, and identifying policies including institutional/capacity-building mechanisms for blue economy development.