Business
Ex-NIMASA DG Harps On Blue Economy Importance
A former Director-General of the Nigerian Maritime Administration and Safety Agency, Dr. Ade Dosunmu, has emphasised the importance of strategic reforms and stronger collaboration among agencies and stakeholders in unlocking the vast potential of Nigeria’s blue economy.
In a lecture titled “Blue Economy and Economic Diversification: Opportunities and Challenges” at the National Institute for Policy and Strategic Studies in Jos, Plateau State, Dosunmu highlighted the sector’s capacity to drive economic growth, job creation, and sustainable development.
He said, “the blue economy offers a unique and timely solution to Nigeria’s perennial dependence on hydrocarbon resources.
“With strategic reforms, robust policies, and stronger collaboration among agencies and stakeholders, the sector can significantly boost national revenue and secure a prosperous future for our country.”
He explained that this call to action underscores the urgent need for Nigeria to diversify its economy and reduce its over-reliance on hydrocarbons.
The blue economy, as outlined by Dosunmu, has the potential to transform Nigeria’s economic landscape.
By harnessing the opportunities in this sector, the country can create new revenue streams, foster sustainable development, and promote economic resilience, he explained further.
Dosunmu also emphasized the need to address key challenges facing the blue economy, including regulatory gaps, environmental threats, and capacity constraints.
The lecture was part of a broader engagement that featured papers on foreign direct investment, sustainable coastal tourism, and fisheries and aquaculture in Nigeria’s blue economy.
The NIPSS, Nigeria’s foremost policy think-tank, aims to develop top-level leaders and policymakers capable of formulating and implementing strategies for national development.
The lecture noted the blue economy’s potential, which includes driving economic growth, job creation, and sustainable development. The challenges, however, include regulatory gaps, environmental threats, and capacity constraints.
Some of the solutions include strategic reforms, robust policies, and stronger collaboration among agencies and stakeholders.