December 9, 2022

Transport Minister Reiterates Nigeria’s Commitment To Sustainability Of Blue Economy

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The Honourable Minister Of Transportation, Mu’azu Jaji Sambo has reiterated Nigeria’s commitment to the sustainability of the blue economy while declaring open the 2022 edition of the Nigerian International Maritime Summit (NIMS) at the Oriental Hotel in Lagos State Nigeria.

Sambo disclosed this during the 2022 Edition of The Nigeria International Maritime Summit (NIMS).

The Summit, according to the Minister, was to capture important questions, opportunities and challenges associated with Nigeria’s quest for achieving a sustainable approach to harnessing the blue economy.

He said, “the Summit was also necessary for discussions within the global community on the need to reshape the way the shipping industry operates in the face of current and future challenges, ranging from a changing climate and the need for rapid decarbonisation by 2050 cannot be overemphasized”.

Nigeria’s commitment to the sustainability of the blue economy is demonstrated by the adoption of the United Nations Sustainable Development Goals (SDGs).

“To this end, an Expanded Committee on Sustainable Blue Economy in Nigeria (ECSBEN) under the leadership of no less a person than the Vice President of the Federal Republic of Nigeria is driving the implementation process and to perfect the agenda for a national strategy.
“This agenda amongst others is focused on providing an assessment of the current realities, opportunities and challenges for economic diversification and the growth of a sustainable blue economy.
“This includes the identification and review of relevant policies and institutional/capacity-building mechanisms. This is in addition to the identification of regional and cross-border partnerships necessary for the implementation of the blue economy plan, the relevant sectors, actors and linkages, and the development of a national action plan with an implementation strategy for the Nigerian blue economy,” he said.

The Hon. Minister further informed that synergy with the appropriate authorities had led to several achievements in the fight against piracy in the Gulf of Guinea, extolling the leadership virtues of President Muhammadu Buhari and other stakeholders for their support in achieving zero piracy in Nigeria’s Maritime domain since the commissioning of the Deep Blue project in June 2021 by President Buhari.

He identified finance as a critical driver for unlocking the potentials of the blue economy in Africa and particularly Nigeria.
“Sustainable financing models are therefore important to build critical maritime assets such as shipyards and ports across the country.

“This Summit will undoubtedly serve as a benchmark for stakeholders in Nigeria and beyond to further develop innovative strategies to sustainably harness the vast potentials of the blue economy”, he remarked.

Sambo however thanked the Governing Board and the Advisory Council of the Nigeria International Maritime Summit, the Secretariat, Agencies and other stakeholders who have worked assiduously with the Federal Ministry of Transportation, for putting together the event.

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