Vice President Inaugurates Committee to Further Harness Benefits of Ocean Resources

Bringing together senior officials from federal and state governments, international agencies as well as other stakeholders, the Buhari administration is poised to further explore the economic opportunities available through ocean and marine resources across the country.

It was then that Vice President Yemi Osinbajo, SAN inaugurated an expanded Partnership Committee on Sustainable Blue Economy at the Presidential Villa in Abuja.

The committee chaired by the vice president is made up of state governors, several ministers, representatives of military and security agencies and other members of the private sector.

The blue economy is the sustainable use of ocean resources for economic growth, improved livelihoods and jobs while maintaining healthy ocean ecosystems. This involves emerging renewable energies, seabed mining activities, marine biotechnology and bio-prospecting.

Speaking at the event, Osinbajo said that “the blue economy offers a whole new perspective of opportunities for economic activity, especially in areas close to oceans, rivers and coasts, but more importantly again, maybe all over the country, because practically everywhere there is water that can be exploited.

Regarding the composition of the committee, the vice president mentioned that it has “representatives of states and geopolitical areas, we have agency representation, the chief of staff of the navy, the comptroller general of customs , NIMASA and several other agencies.There are also ministries such as Ministry of Industry, Trade and Investment, Ministry of Energy, Ministry of Petroleum, Ministry of Environment.

According to him, “there will be several agencies and several interactions between institutions because we deal with ports and terminals, oil and gas, the environment, tourism, hotels, a whole range of economic activities that are linked to the so-called Blue Economy.

The inauguration was attended by the Governor of Borno State, Prof. (Eng.) Babagana Umara Zulum; the Minister of Industry, Trade and Investment, Otunba Niyi Adebayo; the Minister of State for the Environment, Sharon Ikpeazu; Minister of State for Energy, Godwin Agba; and the representative of the Minister of Transport, Dr Magdalene Ajani, Permanent Secretary, Ministry of Transport. Others include Navy Chief of Staff Rear Admiral Awwal Zubairu Gambo; Comptroller General of Customs, Colonel Hameed Ibrahim Ali (Rtd); NIMASA Managing Director, Dr. Bashir Jamoh, among others, and representatives from the private sector.

The Terms of Reference for the Committee include providing an assessment of the current realities, opportunities and challenges for economic diversification and growth of a sustainable blue economy in Nigeria, as well as identifying and reviewing relevant policies and institutional/capacity building mechanisms for blue economy development in Nigeria. Nigeria and others.

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