Would you like to receive notifications on latest updates of the following headlines?

Maritime operators to FG: tackle piracy to enjoy ocean economy

POSTED ON September 30, 2024 •   Business      BY Abiodun Saheed Omodara
Minister of Marine and Blue Economy, Gboyega Oyetola

Maritime stakeholders have advised the government to tackle piracy, illegal fishing, interstate disputes, and transnational crime to enjoy the $2.5tn ocean economy.

They said Nigeria must also address other challenges, such as the smuggling of arms and narcotics, among other multifaceted threats to maritime security.

They gave the advice in Lagos at the 2024 International Maritime Organisation World Maritime Day.

Speaking at the event, the guest speaker and the Chairman of the Commission on the Limits of the Continental Shelf, Prof Larry Awosika, advised that ensuring safe, secure, energy-efficient, and low-carbon maritime transport is essential for the sustainable exploitation of marine resources.

“Unsustainable maritime practices, including security and environmental degradation, pose significant threats to marine-based industries,” he stated.

Awosika laid out a vision where the blue economy, which encompasses fishing, resource extraction, marine transportation, ecosystem health, and tourism, could thrive only through a foundation of maritime security.

He further expressed concern that investment in marine exploration and tourism could be undermined by such security threats, affecting both national and global economie

He urged the Federal Government to prioritise safety at sea through new investments in infrastructure, science, data, and technology.

On his part, the Minister of Marine and Blue Economy, Adegboyega Oyetola, emphasised the need to address safety and security challenges in the sector, especially in light of new technologies and alternative fuels aimed at reducing greenhouse gas emissions from ships.

Oyetola, who was represented at the event by the Permanent Secretary of the ministry, Olufemi Oloruntola, noted that Nigeria had consistently aligned its regulatory framework with IMO standards and other international maritime regulations, reinforcing its commitment to upholding the highest levels of maritime safety.

“To ensure both shipping safety and operational efficiency, the government must invest in upgrading facilities and building capacity to keep Nigeria competitive in global seaborne trade,” Oyetola stated.

“Achieving world-class standards would require continued support from the private sector, whose collaboration is crucial in providing the resources and state-of-the-art facilities necessary to elevate Nigeria’s maritime industry,” he noted.

Also speaking, Nigeria’s Alternate Permanent Representative to the International Maritime Organisation, London, Bwala Williams, noted that the IMO’s focus on enhancing maritime safety and security was timely “particularly as the world commemorates the 50th anniversary of the International Convention for the Safety of Life at Sea.”

READ ALSO
FG to Reclaim Dormant Oil Wells as NUPRC Implements 'Drill or Drop' Policy
BY Abiodun Saheed Omodara June 13, 2025 0

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has informed oil producers of its inte...

READ ALSO
Nigeria's $5bn Crude-for-Loan Deal with Aramco Faces Major Setbacks amid Falling Oil Prices
BY Abiodun Saheed Omodara June 11, 2025 0

A $5 billion crude-for-loan agreement between the Federal Government and Saudi Arabian oil giant Ara...

READ ALSO
Tinubu Reopens Renovated Conference Centre, Mandates Payment for Usage
BY Abiodun Saheed Omodara June 11, 2025 0

ABUJA,Nigeria - The Minister of the Federal Capital Territory, Nyesom Wike, has declared that the Ab...

READ ALSO
Tinubu Celebrates Dangote Refinery as a Catalyst for Nigeria's Economic Revival
BY Abiodun Saheed Omodara June 10, 2025 0

LAGOS, Nigeria - President Bola Ahmed Tinubu has hailed the Dangote Petroleum Refinery and Petrochem...

READ ALSO
FG to Lose $4 Million from World Bank Loan Over Audit Failures
BY Abiodun Saheed Omodara June 10, 2025 0

The Federal Government is anticipated to forfeit $4 million from a World Bank loan due to its failur...

READ ALSO
Tinubu Commits to Collaborative Efforts with AfDB's New Leadership, Congratulate Sidi Tah
BY Abiodun Saheed Omodara May 30, 2025 0

President Bola Tinubu has praised the election of Sidi Tah as the ninth president of the African Dev...

READ ALSO
South Africa Surpasses Nigeria in Fuel Imports Amid Dangote Refinery Operations
BY Abiodun Saheed Omodara May 29, 2025 0

Nigeria has lost its long-standing title as Africa’s largest importer of refined petroleum pro...

READ ALSO
Economists Warn of Debt Sustainability Risks as Nigeria Eyes $24.14 Billion in Foreign Loans
BY Abiodun Saheed Omodara May 28, 2025 0

Nigeria's public debt is poised for another substantial increase as President Bola Tinubu has sought...

OUR CHANNELS:

Tanzania,  Nigeria Lead Africa in Rising Fraud Rates- Report
BY Abiodun Saheed Omodara June 19, 2025 0

Tanzania and Nigeria have emerged as the leading countries in Africa for higher fraud rates, accordi...


Osun Raises Alarm Over Alleged Fund Diversion by CBN and AGF
BY Abiodun Saheed Omodara June 19, 2025 0

OSUN, Nigeria - The Osun State Government has expressed concern about a purported attempt by the Cen...


Nigeria Police Link Schoolgirl Cannabis Clip to Zimbabwe
BY Abiodun Saheed Omodara June 19, 2025 0

The Nigeria Police Force has addressed a widely circulated video on WhatsApp and social media, which...


Tinubu to Launch Multiple Development Projects Today in Kaduna
BY Abiodun Saheed Omodara June 19, 2025 0

KADUNA, Nigeria - President Bola Tinubu is anticipated to arrive in Kaduna State today for the inaug...


Tinubu Assembles High-Level Committee After Benue Tragedy
BY Abiodun Saheed Omodara June 19, 2025 0

President Bola Tinubu announced the formation of a committee on Wednesday aimed at restoring sustain...


Finidi George Leads Rivers United into 2025/26 Season Training Camp
BY Abiodun Saheed Omodara June 19, 2025 0

Rivers United's coach, Finidi George, has motivated his players as the Port Harcourt-based team kick...


Moses Simon Completes Move to Paris FC for €7 Million
BY Abiodun Saheed Omodara June 19, 2025 0

As reported by French news source Foot Mercato, Paris FC, a newly-promoted team in French Ligue 1, h...


Osimhen's Impressive Loan Spell Fuels Transfer Speculation
BY Abiodun Saheed Omodara June 19, 2025 0

Nigerian international Victor Osimhen remains at the center of significant transfer rumors, with Ita...


NDLEA Calls for Collective Action Against Drug Abuse in Nigeria
BY Abiodun Saheed Omodara June 20, 2025 0

The National Drug Law Enforcement Agency (NDLEA) has urged Nigerians and state governments to take r...


Tor Tiv Urges President Tinubu to Foster Lasting Peace in Benue State
BY Abiodun Saheed Omodara June 19, 2025 0

The Tor Tiv, Prof. James Ayatse, expressed that President Bola Tinubu has the ability to bring lasti...


More Articles

Load more...

Menu