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Home Business

Blue Economy: pathway for Nigeria Economic Diversification.

admin by admin
May 24, 2021
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Chinonye Anyatonwu


The National President of Association of Nigeria Licensed Customs Agents (ANLCA), Iju Tony Nwabunike has said that the maritime domain suffers setback of general insecurity due to lack of priority attention, inadequate security platforms.

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Nwabunike, who made the assertion while delivering a lecture titled, “Blue Economy: Pathway for Nigeria’s Economic Diversification”, at the 8th Annual Nigeria Transport Lecture organised by Transport Day Newspaper in Lagos, stated that Maritime piracy, sea robbery, oil theft kidnapping on water or through water have been copiously recorded in the domain that should be contributing to our economic well being of a nation.

According to him,” The 853km long Nigeria coastline runs through seven of the Southern states of the Federation, Lagos,Ondo,Delta, Bayelsa, Rivers, Akwa Ibom and Cross River, other states linked by lnland waters for copious socio cultural and commercial activities.

These navigable inland water according to him, comprises of Rivers,Lakes, Lagoons, Creeks and those directly linking to the sea.

“I am almost tempted to say that our Exclusive Economic Zone is no longer exclusive to us because the people I choose to call maritime bandits are threatening our space.

“I am aware that the Federal Government (through Nigerian Maritime Administration and Safety Agency) is rising to the occasion with planned deployment of advanced security assets to energise our blue economy. I believe it will work if consciously sustained. This they tagged the “Deep Blue Project.” It is anticipated that this move will go a long way in fighting piracy and other maritime crimes in the Gulf of Guinea and our country’s entire territorial waters.”

He said that safety of vessels, cargoes and crews on the Nigerian waters had direct impacts on the overall economy since the maritime sector was critical for Nigeria in the areas of trade, investment, employment and recreation.

“While government is procuring platforms and training personnel for maritime security, I wish to advocate that a community supported security approach will be more productive. Government should as a matter of policy involve youths of coastal communities in a kind of Civilian Task Force to support the Navy and other security agencies in nipping our maritime insecurity in the bud”, he further said.

He however argued that further development of the nation’s maritime potentials would be a bold step towards economic diversification for job creation, addressing insecurity and positioning the Nigerian ports for hub status in the West and Central African regions.

Nwabunike maintained that “Everyone agrees that a safer and more secure maritime sector will open a vista of economic improvements for us a country.

“Most thriving businesses in our maritime domain are forced to spend a good part of their profits on the provision of security. Where such private arrangements are not made, oil, construction and other workers operating or transiting through our waters face risk of kidnap, robbery or murder. Of a truth, our maritime security profile and reputation is not impressive and should be urgently and practically worked upon.”

While noting that over 97 percent of ships lifting Nigerian crude oil to buyers in refining countries and vessels bringing refined petroleum products into the country were foreign owned, he insisted that those ships trading on Nigerian waters and carrying her number one foreign exchange products were manned mainly by foreign professionals and deckhands adding that Nigerian ship owners were struggling to break into this area of investment.

ANLCA boss in his speech earlier acknowledge the foresight and positive impacts of the editorial team of Transport Day Newspaper, for organizing a lecture which he said touches the heart of our national economy growth and sustenance.

He revealed that notable numbers of Nigerians were involved as crew members onboard Liquefied Natural Gas and Liquefied Petroleum Gas (LPG) vessels under the Nigeria LNG Limited and its subsidiary, Nigeria LNG Ship Management Limited (NSML).

“I have to identify this because it’s worth replicating in other areas and made to spread across the industry where Nigerians will be first line beneficiaries of benefits derivable from our natural maritime endowments. The oil industry is truly not interfacing enough with the maritime sector to help in reversing this trend of inadequate participation of Nigerian investors and professionals in the lifting of crude oil and working as crew members onboard ships trading on our waters

“Over the years , I have followed the Nigeria Content Development and Monitoring Board (NCDMB) and posit that it is doing very well in expanding opportunities for Nigerians in the oil industry but has not synchronized with other agencies like NIMASA to promote our cabotage regime in maritime. Maritime transport is the key to unlock most of the untapped opportunities in the oil industry and will go a long way in supporting government’s effort at addressing insecurity in our coastal area”, he stressed.

He said there is an array of untapped opportunities holding back not less than 30,000immediate jobs if our maritime and inland waters are safe for legitimate business activities where its also properly interfaced with the oil sector.

In conclusion, Nwabunike lamented that a perpetual borrowing nation becomes an economic slave to its creditors , as our population increases by the years, the monolithic oil economy has become very unsustainable.

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