President Bola Tinubu has invited countries worldwide, especially those on the African continent, to take advantage of the investment opportunities that abound in Nigeria’s blue economy.
Accordingly, he implored the Nigerian Navy and its African partners as well as other stakeholders to focus on achieving a secure and prosperous maritime future that is beneficial to all, saying Nigeria cannot afford to fail in its responsibilities to Africa and the world at large
The President made the call on Thursday when he declared open the 2024 International Maritime Conference held at the Naval Dockyard, Victoria Island, Lagos.
President Tunubu who was represented at the conference by his deputy, Vice President Kashim Shettima, in a statement by his media aide, Stanley Nwkocha observed that while a flourishing blue economy is the bedrock of every vibrant nation, the only way to attain such an economy is through “a progressive naval force.”
To this effect, he sought the commitment and devotion of officers of the Nigerian Navy and their international affiliates, describing them as “the lifeguards of our maritime environment.”
In his speech titled, “It’s Time to Secure Our Maritime Future,” which was read by VP Shettima, the President told the conferees: “This conference must inspire all stakeholders to see the big picture—that we cannot afford to fail in our responsibilities to the continent and, indeed, the entire world.
“Let us work towards a maritime future that is secure, prosperous, sustainable, and beneficial to all our people and the generations to come. I urge you all to feel at home and take advantage of the investment opportunities that abound in Nigeria’s blue economy.”
Noting that the conferees have a role to play in the bid to maximise the potential of the blue economy which he pegged per year at $1.5 trillion globally and $300 billion continentally, President Tinubu said, “The wealth of Africa can never be realised unless we prioritise the protection and development of our maritime environment.
“The blue economy is estimated to be worth more than US $1.5 trillion per year globally and is projected to increase to US $15.5 trillion by 2050.
The “Africa Blue Economy Strategy” estimates that the blue economy currently generates nearly US $300 billion for the continent, creating 49 million jobs in the process. The Africa Blue Economy is projected to hit US $405 billion by 2030,” he further projected
He congratulated the Nigerian Navy on its 68th Anniversary, saying the nation remains immensely grateful for the service it has rendered in the past 68 years, “serving as a critical pillar of our security,” even as he applauded the marine forces for creating “a sense of balance and stability” in the country.
