“The Blue Economy provides for an inclusive model in which coastal states – which sometimes lack the capacity to manage their rich ocean resources – can begin to extend the benefit of those resources to all. Realizing the full potential of the blue economy means inclusion and participation of all affected social groups and sectors”-The Commonwealth

The Blue Economy is by no means a new or strange economic terminology. While advanced countries have long ago taken advantage of its potentials and the opportunities it represents to advance their economies, African countries, owing to lack of awareness, expertise and technological limitations still exerts inertia and hibernates in indecision while other countries move on in the trajectory of economic progression.

The Centre for the Blue Economy states that the term “Blue Economy” is now a widely used term around the world with three related but distinct meanings-

1. The overall contribution of the oceans to economies.
2. The need to address the environmental and ecological sustainability of the oceans.
3. The ocean economy as a growth opportunity for both developed and developing countries.

Specifically, NIMASA has initiated several ideas and policy thrusts aimed at a successful implementation of the Blue Economy in Nigeria to boost national development and open up the untapped resources of Nigerian waters. Some of such initiatives, under the sub headings highlighted hereunder shall be espoused as follows:

Harnessing the potential of the oceans and seas

The Japanese, Koreans, Chinese and other technologically advanced economies of the world are mining the oceans, harvesting and maximizing the huge resources of the oceans to the disadvantage of African Nations owing to lack of capacity and dearth of technological tools.

While these countries go to great lengths and depths unreachable by blacks, these same resources when tapped and refined are exported back to Africa in different forms, shapes and sizes. Such refined Blue Sea raw materials find ready markets in Africa where they are sold.

The capital flight and drain on scarce forex continue to impoverish African countries and its people.

As the Chairman of the African Association of Maritime Administrations, AAMA, Dr. Dakuku Peterside who is also the Director General, Nigerian Maritime Administration and Safety Agency, NIMASA, has consistently harped on the need for African countries to immediately begin to take advantage of the business opportunities inherent in the Blue Oceans and seas of Africa.

Speaking at the Shipbuilding, Machinery and Marine Technology, SMM, Conference which held in Hamburg Germany last year, Dakuku wooed countries of the world to invest in the Blue Economy of Africa and other sectors, depending on their interests/expertise when he said

“It is known worldwide that Africa is the world’s biggest untapped market waiting to be unveiled and if you want to tap into the market of today and the market of the future then Nigeria is your destination, Nigeria is welcoming you, Nigeria is the investment destination of today and the future”. He said.

The Blue Economy thus have the capacity to attract Foreign Direct Investments, FDI as well as huge business options for citizens of Africa.

Tourism

Nigeria’s has over 853km of coastline which consist of beaches, lake and lagoons conducive for human relaxation, concentration and communion with nature. These natural habitats inhabits some of the rarest of species of animals, birds, reptiles, fishes and crustaceans. If countries like Dubai could attract huge revenue from tourists who visit the country daily for tourism, Nigeria with her vast Oceans and Sea cutting across Lagos, Ondo, Delta, Bayelsa, Rivers, Akwa Ibom and Cross Rivers states and bordering the Atlantic Ocean, has the potentials to earn hard currencies from Tourism if the Blue Economy initiatives as put forward by NIMASA are doggedly implemented.

Maritime professionals are of the view that over 70% of African coastlines have not been well exploited. These coastlines they say could be essential tools for enhancing social and economic stability. They believe that Poverty and malnutrition could be eradicated if there are dependable, good food supply from fish. They argue that overfishing and pollution should be discouraged as such activities could lead to social instability.

The maritime professionals also insist that income-generating activities like tourism should be encouraged by developing a clean marine bio-diversity. For these to be achieved, the enabling policies should be made with an objective to generate benefits rather than aiming at extracting such resources only.

Safety and Security

Implementation of a sustainable Blue Sea Economy in Nigeria could remain a mirage if adequate attention is not given to the Safety and Security of Maritime Assets/Investments. Put at over N9trillion, investments in Nigeria’s Maritime industry are so huge that NIMASA is collaborating with the Armed Forces to ensure Safety and Security of all maritime Assets.

Such collaborations, Dr. Dakuku said, is desirable for a successful implementation of the Blue Sea Economy.

Safety and Security as key components of the Blue Economy are therefore not negotiable. NIMASA as the sole Maritime Administration in Nigeria and the Designated Authority, DA, for the implementation of the International Ship and Ports Security, ISPS, Code, has committed huge resources to ensure full compliance in Nigeria by all Sea Port/Terminal Operators.

Severally, NIMASA have had to shut down Oil Terminals for non-compliance to Safety guideline/regulations. Though such terminals were reopened after recertification and evaluation by NIMASA officials, the Agency leaves no operator in doubt of it resolve to enforce Safety and Security regulations as specified by the International Maritime Organization, IMO.

During a visit to Nigeria, to inspect port facilities, Lt Commander Janna Ott, a representative of the US Coast Guard in International Port Security Programme, observed that NIMASA has taken laudable steps to improve Nigeria’s compliance with the International Ship and Port Security (ISPS) code.

Commenting on her observation after inspection of facilities Ott said, “You do have a really great team here. They were very helpful. I thank them for their frank and open discussion in allowing us to give them our observations. Hopefully, they can take whatever we have given them to heart and start working on them right away.”

It is thus very clear that NIMASA does not compromise on Safety and Security matters because of its overall importance for a successful implementation of the Blue Economy in Nigeria.

Dr. Dakuku, hit the nail on the head when he said “In fact, we have gone from just implementation to enforcement, where, after several engagements and if facilities do not comply with those required standards, we start to sanction them and even get them shut down.”

Ship Ownership/Shipping promotion

Fundamentally, the incrementals from investments in shipping and its integral auxiliary services should translate into job opportunities for the teeming population of Nigeria. This has also been stressed by the NIMASA Boss, Dr. Dakuku Peterside.

Looking at some developed economies, Dakuku said it was high time Nigerians began to tap into the opportunities embedded in our maritime sector because economies of countries such as Singapore, Ukraine and South Korea and several others thrives on the activities of their maritime sector. He calls on the private sector to collaborate with the Federal Government in harnessing business and economic growth opportunities in the Bleu Economy sub sector.

Being a long term investment with intensive capital requirement, NIMASA, while expressing its willingness to partner with ship owners, source funds and support them to get loans at lowest interest rates possible, however admits that it lack the financial wherewithal to provide all the funds required by Nigerian ship owners in their efforts to acquire more ships.

Water Resource Management

Evidently, since the world from water emerged and as man depends on water for his sustenance, life itself without water is unimaginable.

The minister of Transportation Mr. Rotimi Amaechi while speaking at the public presentation of the book “Harnessing Nigeria’s Maritime Assets – Past, Present and Future, authored by the Executive Director, Finance and Administration of NIMASA, Dr. Bashir Yusuf Jamoh, stated that Nigeria’s water resource management are of great importance if the Blue Economy is to become a reality.

The minister said Nigeria has relied so much on the crude oil economy to no avail. He posited that it is time Nigeria shifted focus to other sources particularly the Blue Economy which covers both aquatic and marine spaces including oceans, seas, coasts, lakes, rivers and underground waters. All these he said encompasses a range of productive sectors like Fisheries, Aquaculture, Tourism, Transport, Ship building, energy, bio-prospecting, under-water mining and related activities, all pointing towards economic prosperity when adequately harnessed.

Pollution Prevention/Control

Globally, the cleanliness and pollution free status of all oceans and sea of the world is of paramount interest and great concern to the IMO and all maritime administrations under its supervision.

The most important instrument for the prevention of marine pollution is the International Convention for the Protection of Marine Pollution from Ships, MARPOL.

NIMASA has not only accented to the MARPOL Convention but has domesticated it for convenience of local implementation and enforcement on Nigerian waters.

Cleaner, Clearer oceans are therefore, for all intents and purposes very integral for the Blue Economy to flourish in Nigeria.

Cabotage

Cabotage is a universal shipping policy adopted by maritime countries of the world to protect, promote and encourage fleet expansion/employment generation in their countries. As a deliberate Shipping Protectionist Policy, the Nigerian Cabotage Regime as captured in the Coastal and Inland Shipping (Cabotage) Act 2003, epitomizes efforts by the Federal Government to grow local shipping by empowering indigenous ship owners to increase their capacities to handle all local shipping needs in the short term and in the long term be able to dominate international shipping.

Only recently, at a meeting with Oil Producers Trade Sector, OPTS and the International Oil Companies, IOCs, NIMASA announced the revocation of waivers for foreign companies under the Cabotage Act as such waivers do not help the growth of the Nigerian maritime industry nor by extension the economy.

The NIMASA Director General made this very clear when he said “Our laws forbid foreign vessels operating in our territorial waters save for compliance with the Cabotage Act. We also want to increase the number of Nigerians who participate in the marine aspect of your business and we are working closely with the Nigerian Content Development and Monitoring Board (NCDMB) to have a joint categorization of vessels operating under the Cabotage Act in order to ensure the full implementation of the Act.”

He emphasized that “We don’t want to change our rules of engagement to a confrontational one because the mandate we have is that of the Nigerian people, to grow shipping for our economic benefits. We urge you to cooperate and collaborate with us where necessary so that we can have an all-inclusive maritime sector,” the Director-General appealed.

While the Act is being reviewed with the objective of making it more efficient and effective, NIMASA has repeatedly expressed its preparedness to partner with and stand by indigenous ship owners and support them as much as possible.

Fisheries

The Blue Economy as championed by NIMASA is intended to diversify the economic base of the economy of Nigeria which hitherto is Crude oil dependent.

NIMASA is of the view that it is time to focus on other revenue sources particularly the Blue Economy which covers both aquatic and marine spaces including oceans, seas, coasts, lakes, rivers and underground waters. Which also encompasses a range of productive sectors such as Fisheries,

Aquaculture, Tourism, Transport, Ship building, energy, bio-prospecting, under-water mining and related activities, all pointing towards economic prosperity, when adequately harnessed.

President Mohammadu Buhari has demonstrated the commitment of his administration to diversify the economic base of the country when he said at a public function in Abuja “We know that the maritime sector has so much to offer the economy in terms of jobs and wealth creation and also contribution to Nigeria’s Gross Domestic Product (GDP). On our part as a government, we are determined to walk the talk so that our economic diversification initiative will be fully achieved for the benefit of all Nigerians”, the President said.

Government Revenue

Revenue is crucial to economic development of any nation. A rapidly increasing population, dearth of national infrastructure, dwindling oil revenue in the face of increasing unemployment and other social economic demands all make the Blue Economy initiatives as advanced by NIMASA inevitable.

Maritime professionals insist that the maritime industry has the capacity to fund Nigeria’s annual budgets if well managed and structured to take advantage of its huge untapped resources.

Action on the Blue Economy

Very urgently, NIMASA believes that the time to act on the Blue Economy is now. While countries like Canada, Norway, China, the Philippines, Denmark amongst others derive a huge chunk of their national incomes from resources of the Blue Seas, Nigeria’s abundant Blue Economy riches are massively still unexploited.

Economists and maritime professionals agree that Economic diversification is vital to countries’ long-term economic growth, but many resource-rich countries remain heavily reliant on revenues generated by mining/oil productions.

While the NIMASA initiatives need urgent backing by the Federal Government, the political will must be mustered if the diversification efforts are to yield dividends for economic prosperity.