Blue Economy sector offers opportunities for Nigerian youth, says Minister at OAU conference
The Honourable Minister of Marine and Blue Economy, Mr. Gboyega Oyetola, represented by the Managing Director of Nigerian Ports Authority (NPA), Mr. Mohammed Bello-Koko, emphasized the vast opportunities within Nigeria’s blue economy sector for the nation’s youth.
He made the assertion during the 2024 International Conference on “Advancing Entrepreneurship Education and Practice for Sustainable Development in Africa,” organized by the Institute for Entrepreneurship and Development Studies (IFEDS) at Obafemi Awolowo University, Ile-Ife, Osun State.
The Minister outlined the sector’s potential as a robust platform for economic growth, job creation, and sustainable development. He highlighted the blue economy’s diverse activities, which include maritime shipping, ship construction and repair, port infrastructure, coastal tourism, fisheries, aquaculture, renewable energy generation, seabed mining, and underwater cabling.
He also noted the sector’s role in supporting pharmaceuticals and chemicals through marine biotechnology, as well as maritime education, consultancy services, and marine habitat conservation.
He urged Nigeria’s academic institutions to collaborate with the government to unlock the full potential of ocean and coastal resources, stressing that this synergy could drive innovation and entrepreneurship across multiple sectors.
“The Marine and Blue Economy represents a blue gold mine of entrepreneurial opportunities for African entrepreneurs and researchers,” he said. “By harnessing innovation, embracing sustainability, and fostering collaboration between government, academia, and the private sector, we can create a thriving marine and blue economy that contributes significantly to Nigeria’s sustainable development.”
The conference saw notable attendees, including the Vice Chancellor of Obafemi Awolowo University, Professor Adebayo Simeon Banire; Director-General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Dr. Dayo Mobereola; and Dr. Richard Akinola, the Chief of Staff to the Minister.
The Minister highlighted Nigeria’s extensive marine resources, which include an 853-kilometer Atlantic coastline, a 46,000-square-kilometer maritime area in the Gulf of Guinea, and a 200-nautical-mile exclusive economic zone recently extended by 16,300 square kilometers. This marine wealth, he said, is complemented by over 10,000 kilometers of inland waterways, offering significant potential for intra-regional trade.
“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,” the Minister noted.
He reaffirmed that the blue economy holds substantial promise for Nigeria’s youth by providing pathways for innovation, sustainable growth, and meaningful entrepreneurship.
The Minister concluded by emphasizing the “remarkable economic prospects” the blue economy offers and the essential role it can play in Nigeria’s drive toward sustainable development and economic diversification.
