Nigeria’s failure to harness opportunities in the Ocean causes huge economic loss – Dakuku

The Nigerian economy is currently losing out in the massive opportunities inherent in the multi billion blue economy due to the inability to harness the enormous potentials.

This was disclosed yesterday by the Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Dr Dakuku Peterside at the 2019 African Day of Seas and Oceans tagged “Harnessing Nigerias Marine Biodiversity for Accelerated Growth”, held in Lagos.

The NIMASA DG said even though the global community is looking towards the Ocean and Sea for economic prosperities, such cannot be said of African countries.

According  to him, there is need for government and critical stakeholders in the maritime sector to out in place measures that would facilitate and promote sustainable use, protection and preservation of the abundant resources in Nigeria seas and oceans.

He said, “Marine biodiversity as you are aware consists of the different species, their riches and abundance in the world’s oceans and seas. The sustainability of these diverse species which are abound in African seas and oceans is not only important to us a Africans, but also of a direct economic benefits to us as a nation.”

Dr Dakuku stated that while the blue economy contributed $962billion to China’s economy in 2014, the United States got $258billion in 2010.

“The global community is looking more and more towards the seas and oceans for economic prosperity. According to an Economist Intelligence Unit Report (EIUR), China’s ocean economy contributed $962 billion or 10%of GDP in 2014 employing 9m people. The United States similarly valued its ocean economy at $258billion in 2010or 1.8% of the Gross Domestic Product.”

“These statistics underscore the inherent and diverse opportunities which Nigeria can as a nation use for rapid economic transformation and development.”

He however assured that the agency would ensure formulation of policies that would develop the nation’s marine biodiversity for economic growth.

“As a Maritime safety administration, Nigeria is committed  to focusing its attention on formulating policies that are in tandem with the development of our marine biodiversity towards enhancing Nigeria’s economic growth in line with the government agenda for the diversification of the economy. In this regard, we are committed to the prioritisation of the nkue economy as veritable tool for economic development improved liveliand job creation while preserving the health of our ocean economy.”

Also speaking, Speaker, House of Representatives, Hon. Femi Gbajabiamila said the National Assembly is committed towards the nation’s quest for sustainable use and exploration of its seas and oceans to maximize the country’s vast economic potentials.

Represented by a member of the House representating Onitsha North and South Federal Constituency, Linda Ikpeazu, Gbajabiamila noted that efficient management and sustainable exploitation of the marine resources would provide a veritable tool for the nation’s Economic and Recovery Growth Plan (ERGP) and give expression to the nation’s sustainable development goals.

He assured that the National Assembly would support the effort of the executive arm of government to see to the effective domestication of relevant international conventions of the International Maritime Organization on marine environment management through legislative enactments.

He added, “The National Assembly would also work with the executive arm in putting in place the necessary legal frame work for the blue economy to engender and protect the Nigerian marine environment and development of the ocean economy.”

Speaking earlier, the Group Managing  Director,  of the Nigerian National Petroleum Corporation, Melekolo Kyari said that NNPC as a corporation shall always support NIMASA in its efforts to harness the opportunities in the marine environment which ultimately would help accelerate the country’s economic growth.

Kyari who was represented by a general manager, Lamin Ibrahim representing said,
“We should not expect to harness our maritime biodiversity if we cannot curb insecurity in the country. It has stated that for the last decade, Africa has been the epicenter of international maritime insecurity.
“Piracy and armed robbery at sea has re-emerged in the modern era off the eas and west coasts of Africa alike, this has caused enormous human and financial damage.  I have no doubt in my mind that with better and efficient maritime security in the country, economic activities in the maritime sector will flourish.”