Hints on PPP Powered National Fleet

The Minister flanked by Maritime Stakeholders at the Forum

The Hon. Minister of the Marine and Blue Economy, His Excellency, Adegboyega Oyetola, Con, has assured maritime stakeholders that the Federal Government is committed to improving the economic wellbeing of citizens by opening up business opportunities for operators in the Public and Private Sectors to open up investment areas which will lead to the creation of jobs/wealth for all.

Speaking at a RoundTable with Maritime Stakeholders in Lagos today, the minister said the engagement became necessary to harvest ideas on optimizing potentials of Nigeria’s vast maritime resources.

According to the minister “This meeting is convened to bring together players in the sector to discuss and chart a roadmap/direction that will advance the industry’s potential, promote sustainable Blue Economy investments and ensure global competitiveness within the sector”.

“It is important to state that Nigeria is indeed a Jewel in Africa. With her expansive coastline stretching over eight hundred and fifty three (853) kilometers along the Atlantic Ocean and a network of potentially navigable waterways covering ten thousand kilometers (10,000 km) across Twenty-Eight (28) of her 36 states, Nigeria’s Marine and Blue Economy stands as a pivotal sector to foster sustainable economic growth of the nation”, Oyetola said.

The minister was emphatic that the round table is crucial to the development of the sector as it offers an opportunity for stakeholders collectively contribute their perspectives, ideas and offer relevant inputs that can propel the sector to the trajectory of success necessary to support the development of the economy as well as meet the expectations of Mr. President who took the courage to open up Nigeria to focus on the Blue Economy Value Chain.

In the minister’s words “The zeal for a better life for Nigerians propelled President Bola Ahmed Tinubu GCFR to recently unveil 8 Presidential Priorities to address critical national challenges. These priorities are to be delivered through eight focus areas, namely: economic growth, food security, energy and natural resources, infrastructure development, security, healthcare, education, improved governance, and job creation”.

On the focus of his engagement with stakeholders at the round table, Oyetola said “We are looking at such areas like strengthening the Blue Governance; Transforming Port Operations; Enhancing Port Infrastructure; and Promoting Blue Economy Investments”.

“This roadmap is designed in such a way as  to enable our Ministry fulfil its mission of formulating and implementing policies, programmes and initiatives that will facilitate the development of an inclusive Marine and Blue Economy Ecosystem, driven by an operating environment that meets global best standards as well as fulfil its vision of positioning Nigeria as a premier Maritime Nation by utilizing the potential of its blue economy to diversify revenue, and assure sustainable development”

Giving insight on how he intends to drive the Blue Economy initiative the minister said “I believe we  can transform this sector through the innovative Public-Private Partnership (PPP) models that the ministry has embraced”.

“This model, which is a collaborative synergy between the private sector’s efficiency and the public sector’s oversight, is set to bring about transformative impact on the marine and blue economy. Anticipated outcomes include the creation of substantial job opportunities and the facilitation of increased trade and investment in the nation, reinforcing our collaborative and forward-looking approach”.

National Shipping Line

“The ministry’s decision to  consider the re-establishment of a National Shipping Line, through a strategic PPP arrangement, is borne out of our desire to capture a substantial share of the estimated $10 billion annual ship charter market within the country”.

“Let me hasten to say  that this initiative will not seek to impede the growth of local players but rather to provide an avenue for them to create and extract more value from the sector, especially through ship construction, maintenance, and repairs”.

“This would enable our local businesses to better leverage the Carbotage Act, which gives Nigerians the exclusive right to control locally generated seaborne trade”.

Reassuring Maritime stakeholders on his vision for his ministry, the minister disclosed “I am committed to bequeathing to Nigerians a better sector than we have met. Our Ministry though new, is not resting on its oars. We have continued to foster Inter-Agency collaborations and implement initiatives to promote Port efficiency, cargo shipment, maritime security and tap into the resources of the Seabed”.

“It is important that we normalise this harmonious synergy and work together to ensure that our industry is safe, reliable and sustainable” the minister emphasized.