News
How Nigeria can benefit from $24trn global maritime industry
Published
1 year agoon
By
Lanre
From experts’ perspectives, Nigeria is a giant crawling on its knees, literall speaking.
With a coastline of about 853 kilometres of the estimated 47,000 kilometres in Africa and marine ecosystems covering 70,000 square kilometres, the country is a perfect haven for diverse investors.
However, despite these marvelous endwoments, the country is yet to tap into the unlimited opportunities and potential embedded in the maritime sector.
From available industry records, the global maritime industry is worth over $24 trillion but unfortunately Nigeria, as a maritime nation, is missing in action and hardly reaps from these huge resources.
Also, the sector currently contributes less than 1 per cent to the nation’s Gross Domestic Product (GDP) despite its strategic importance to the economy.
However, experts at different fora have posited that the blue economy aspect of the maritime sector is capable of sustaining the nation’s economy and funding the nation’s budget deficit if well harnessed.
For instance, given its blue economy potential, the Africa Blue Economy Alliance, using data from the Nigerian Maritime Administration and Safety Agency (NIMASA) projected the value of Nigeria’s untapped blue economy potential at a stunning $296 billion.
Under the sector, fishing, coastal leisure and tourism, shipbuilding, seawater desalination, offshore oil and gas and shipping are some of the economic activities in the traditional sector. But more recently, new industries have emerged in deep sea mining, biotechnology, aquaculture, seabed extraction, offshore renewable energy and blue carbon sequestration.
Daily Sun learnt that both traditional and emerging industries and sectors of the blue economy can boost job creation, improve food security, tourism, infrastructure development, green energy, smart cities and ports among others when properly harnessed through enabling policy frameworks.
In recent times, the Federal Government and top players in the maritime sector have started to recognise the opportunities abound in the industry, which is one of the reasons the Ministry of Marine and Blue Economy was created.
However, at the recent International Customs Day, Minister of Marine and Blue Economy, Gboyega Oyetola emphasised that the Federal President Bola Tinubu administration was focused on tapping substantially from the global maritime resources estimated at over $24 trillion, which support over 90 per cent of global trade and generating millions of jobs as part of deliberate measures to boost Nigeria’s economy.
In order to achieve these, he made a strong case for the integration of sustainability into the policies and strategies, boost investments in the ports, research, technology, and, most importantly, foster inclusive alliances among stakeholders and partners within the supply chain.
Speaking with Daily Sun, a Maritime Lawyer, Barrister Osuala Nwagbara, said Nigeria today has a ministry of Marine and Blue Economy as an expression ministry that would tap into resources the nation has in the maritime space.
He said looking at the ministry carefully, it is a cross-cutting ministry and supposed to coordinate all the ministries and departments that have one thing or the other to do within the broad framework and broad outline of maritime.
“Of course, maritime in this context, is the sea-based resources that Nigeria can tap into to develop our nation and contribute significantly to the Gross Domestic Product (GDP). And beyond that, have a say in maritime affairs at the global level specifically the International Maritime Organisation.
“Under the Marine and Blue Economy ministry, you will find tourism and investment. We don’t need to overemphasise the importance of maritime, water resources in promoting tourism and investment in tourism. And of course, investments here are broad based. You have hotels, travels, and all that. Transportation is also part of it. Growth in transportation, infrastructure et al, they are all involved in tourism and investment.
“Again, under that ministry, you will find fishery. You know the problem Nigeria has had with regard to illegal and unregulated fishing and yet fishing contribute so much to food security in every given nation. The ministry has under it aspects that will promote fishing in a responsible manner and in a manner that will conserve marine environment in sustainable manner and we are talking about sustainable development here,” he explained.
According to him, fishery by virtue of its nature and the environment in which fishing can be done are under marine and blue economy and we are talking about food security.
“Again, agriculture, how do we tap into our water body to promote agriculture apart from fishing?
“Even energy and power can be generated using our water body and using resources we are blessed with which is water. You can tap energy, you can build your power, hydro-dam, lay your cable for electricity supply, build your electricity facility within the ocean. This where energy and power come within the remit of the function marine and blue economy,” he added.
He also spoke about human capital development, adding that a large body of seafarers, going by the statistics from International Maritime Organisation (IMO), would be needed in 2025.
This is because seafarers are engine room of maritime globally and Africa is being looked upon as the resource pool come 2025.
“And Nigeria is blessed with population, and about 65 per cent of our population are in the youth bracket. So we have opportunity of maximising and optimising the benefit of marine and blue economy to train seafarers for local use and for export.
“When they are exported, they earn from working in ships that trade around the world and they make diaspora remittances. Seafarers make so much diaspora remittances that make the economy buoyant in terms of foreign exchange. Philippines is an example diaspora remittances especially from the seafarers. They contribute a large chunk of their GDP. So you have that human development there. In all of these, you are creating and expanding the economic base. You’re generating local employment from all these areas we have mentioned,” he said.
Nwagbara said there was a need for local water to be developed for inland transportation even cross-country transportation and African countries through waterways transportation.
He urged the government took in that direction as part of the ways Nigeria can optimise development of the nation’s waterways and ocean resources.
He added that there are so much to gain from marine and blue economy of Nigeria if Nigeria optimises the benefits that are inherent in the nation’s marine and blue economy.
He said the move will force the world to recognise the the nation’s role and have a say at the IMO.
“And when we put all of these gains together it will eventually result in gain to our country. There is no way the contribution to our GDP will remain marginal. And in this, it will come next to agriculture which is the highest contributor to our GDP as this time as we speak.
“I’m sure that by the time the Marine and Blue Economy taps into all of these areas that we are endowed with under the remit of its responsibility, maritime industry will contribute even more than agriculture is contributing now to GDP.
“One of the ways this can be achieved is that the current Minister of Marine and Blue Economy, Adegboyega Oyetola should start now and seize the opportunities that have been thrown on his lap and begin to coordinate all these areas that I have mentioned,” he stated.
He said Marine and Blue Economy is about the most important ministry in Nigeria now because there in lies the hope of this country
“The Minister should be coordinating now because the future of the nation lies in the marine and blue economy and things that have not been properly done will be done properly.
“All the areas that have been neglected in the industry will become focal point and when the ministry work with other ministry, with Marine and Blue Economy ministry coordinate, there will be new Nigeria where there will be development, industrial and economic development, employment opportunities and poverty reduction,” he said.
In his contribution, the Advisory Head/CEO, Kamany Marine Services Limited, Charles Okorefe, said the problem of the industry has to do with the issue of coordination because the Nigerian maritime industry has to be properly coordinated.
“Proper coordination is the watchword because as it is, we still have different aspects of the sector working in discordant pattern. There is no proper coordination. We have been looking at the issue of the Cabotage vessel financing fund disbursement over the years. The Nigerian shipping operators, they are not empowered…”
So the aspect of shipping, lifting of our crude oil for instance is zero. Then when you also look at other aspect.
“Then, when we also look at every aspect, everywhere, you will hear that Government has given Customs certain target that is not the way it ought to be. Customs are meant to facilitate trade and not concentrated mainly on revenue generation. When you facilitate trade that means your port are inviting to users both local and foreigners.
He said Nigerian ports are not inviting because of too many encumbrances, adding that export also is a major problem when one have goods that get spoilt along the way because they are not moved out of the at right time for export purposes.
He added that by the time the goods get to their final destination, they are deteriorated, adding that the situation diminishing Nigeria’s earnings from export because when one carries bad product to the foreign buyers, they dictate the amount to be paid for the product and sometimes, they reject the product outrightly, which constitute a major issue for Nigerian export.
“And of course, we are talking about the movement of petroleum products, which Nigeria has not be able to perfect. I mentioned to you the last about the Free on Board arrangement whereby the foreign buyers of our crude they are the one to nominate the vessel to carry our crude meaning that we do not earn any value from our crude export that is major disservice in terms of lowering our GDP as far as the maritime sector is concerned.
“So there are so many things that are involved. Our port are not operating optimally. Look at the port in the Eastern zone and Central zone, Delta, Port Harcourt, Rivers and Cross Rivers. What you find is that there is a lot of disconnect in terms of capital dredging of those Ports and activities in them. It will be difficult for the maritime industry to add up to the GDP. So these are the major issues.
He said Nigeria port has not been achieve single window system up till now when little maritime nations like Benin Republic, Togo and Ghana are operating single window system.
“Maybe agencies of government are working across purpose that does not add up to industry efficient and when you’re not efficient, you are less productive so these are the major contending issues that needs to be look at if Nigeria wants to tap into the opportunity in the global maritime domain,” he added.
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News
Uzodimma inaugurates IMSUTH, IMSUBEB boards, pledges N20bn for education, healthcare
Published
5 days agoon
February 10, 2025By
Lanre
Governor Hope Uzodimma has inaugurated the IMSUTH and IMSUBEB boards, pledging N20bn for healthcare and education reforms in Imo State
Imo State Governor, **Senator Hope Uzodimma**, has reaffirmed his administration’s commitment to revitalising the **health and education sectors**, describing them as crucial to the well-being and development of the people.
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Speaking at the **inauguration of the boards** of the **Imo State University Teaching Hospital (IMSUTH)** and the **Imo State Universal Basic Education Board (IMSUBEB)** in Owerri, the governor outlined the significant strides his government has made in these sectors since assuming office in 2020.
Governor Uzodimma revealed that his administration had invested over **₦4 billion** in rehabilitating IMSUTH, **procuring modern medical equipment** and attracting professionals with **local and international medical experience**.
“IMSUTH was in a **comatose state**, but today, it stands among the top teaching hospitals in Nigeria,” he stated.
The governor expressed concerns over Nigeria’s **preventable death rate**, attributing about **70% of fatalities** to poor healthcare infrastructure.
He urged the **newly inaugurated board**, led by **Dr Emmanuel Ogueri**, to leverage their expertise to transform IMSUTH into a centre for **medical excellence**, discouraging **medical tourism abroad**.
“This is your own. **Help stop medical tourism in Imo**. Bring back your knowledge and experience. Without health, there can be no development,” Uzodimma emphasised.
The newly appointed IMSUTH board members include:
– **Dr Emmanuel Ogueri** – Chairman
– **Prof Kelechi Uwakwe** – Chief Medical Director (CMD)
– **Rev. Fr. Dr Emeka Emekaraoha**
– **Anyaehie Okameme**
– **Dr Osita Kingsley Uzoma**
The governor assured the board of **government support** while encouraging collaboration with IMSUTH management.
Uzodimma also inaugurated the **Imo State Universal Basic Education Board (IMSUBEB)**, tasking the members with **accountability** and **prudent management of funds**.
He pledged that their **monthly financial reports** would be published for transparency.
“Your failure is our collective failure; your success is our collective success. **This is not your turn—it is the turn of Imo people**. Change the story, rebuild the schools, and serve as dedicated public servants,” he advised.
The governor announced that his administration had **cleared all outstanding counterpart funding** obligations, securing **₦20 billion** for **school renovations, teacher recruitment, and improved learning materials**.
New IMSUBEB Board Members
– **Hon Chidiebere Egbo** – Chairman
– **Arc. Mrs Amaka Onu**
– **Hon Chuks Metu** – Secretary
– **Hon Vitalis Obioma**
– **Hon Edward Obinna**
– **Mrs Nzeoma Lucy Nkeiru**
– **Mrs Leticia Amandianeze**
In their acceptance speeches, **Dr Emmanuel Ogueri** and **Hon Chidiebere Egbo** pledged to align with the governor’s vision, ensuring **high-quality healthcare** and **basic education** for Imo residents.
The event was attended by **Speaker of the Imo State House of Assembly, Rt. Hon. Chike Olemgbe**, **Secretary to the State Government, Chief Cosmos Iwu**, **Chief of Staff Barr. Nnamdi Anyaehie**, and other top government officials and stakeholders.
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FG unveils motherland 2025 to position Nigeria as global cultural, investment hub
Published
5 days agoon
February 10, 2025By
Lanre
The Federal Government, in collaboration with Discover Motherland Africa, has launched *Motherland 2025*, a movement to reconnect the African diaspora while boosting Nigeria’s economic and cultural resurgence
The **Federal Ministry of Art, Culture, Tourism, and Creative Economy**, in collaboration with **Discover Motherland Africa**, has launched *Motherland 2025*, a transformative initiative aimed at positioning **Nigeria as a global hub for African culture, investment, and tourism**.
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Speaking at the unveiling event in **Abuja Continental Hotel**, Minister **Hannatu Musa Musawa** described *Motherland 2025* as more than a festival—**a movement designed to reconnect the African diaspora while driving Nigeria’s economic and cultural resurgence**.
“Motherland 2025 is more than a festival—it’s a homecoming. This initiative cements Nigeria’s role as a powerhouse of Black and African identity, commerce, and innovation.”
>“It is an opportunity for global stakeholders, from investors and policymakers to cultural leaders and travelers, to experience and invest in Nigeria’s resurgence as a cultural and economic powerhouse,” Musawa stated.
As part of the initiative, the Minister announced the *“See Motherland Through Your Eyes”* competition, inviting **participants to visually capture Nigeria’s landscapes, traditions, and vibrant communities**.
“This competition celebrates Nigeria’s diversity and spirit. From the **Kelangu drumbeats of the North to the Bata rhythms of the Southwest and the Ogene echoes of the East**, our culture moves like a dance—alive in every moment.”
The Minister further called on **government agencies, private sector stakeholders, and cultural institutions** to support *Motherland 2025* in making it a **long-term driver of Nigeria’s tourism, creative economy, and investment landscape**.
“The success of this initiative relies on strong partnerships. We invite policymakers, investors, and development organizations to join us in shaping Nigeria’s tourism, creative economy, and investment landscape.”
The *Motherland 2025* initiative consists of several major components designed to boost Nigeria’s cultural, tourism, and economic appeal:
– **Motherland Expo and Festival** – A platform for **cultural exchange, business engagement, and entertainment**, featuring **State Pavilions and Business Exhibitions** showcasing Nigeria’s **36 states and the FCT**.
– **Closing Concert** – A grand musical event featuring **top Nigerian and international artists**.
– **Motherland Travel Hub** – A **centralized travel logistics platform** to make exploring Nigeria easier for visitors.
– **Citizenship by Investment Program** – A unique initiative allowing **diaspora members and foreign investors** to contribute to Nigeria’s development while gaining residency benefits.
– **Diaspora City** – A **dedicated hub for diasporans to settle and invest in Nigeria**.
– **Motherland Ambassador Awards** – An **award program recognizing diaspora leaders** making significant contributions in various fields.
**Chidinma Nwankwo**, Managing Director of **Discover Motherland Africa**, emphasized that *Motherland 2025* is **not just a festival, but a landmark movement reconnecting Nigerians abroad while unlocking cultural pride and investment opportunities**.
“Motherland is a homecoming, a journey, and a commitment. This December, we invite the global diaspora to experience Nigeria like never before—not just as visitors, but as participants in a redefined vision of tourism.”
“Whether you are part of the diaspora, a first-generation Nigerian, or someone who has never set foot in Nigeria, this is your invitation to engage, contribute, and become part of something bigger.”
With *Motherland 2025*, Nigeria aims to **strengthen its identity as the centre of global Black and African culture** while **unlocking investment opportunities and fostering economic development**.
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Dees Travels Chairman advocates stronger tourism policies to unlock Nigeria’s potential
Published
1 week agoon
February 6, 2025By
Lanre
Professor Sunday Adebisi, Chairman of Dees Travels, urges the Nigerian government to implement stronger tourism policies to boost economic growth, highlighting the sector’s potential to surpass Dubai as a premier travel destination
The **Chairman of Dees Travels**, **Professor Sunday Adebisi**, has called for **robust tourism policies** to help Nigeria realise its full potential as a **global travel destination**.
Speaking at the company’s **get-together party** in **Lagos**, Adebisi noted that **Nigeria has all it takes to compete with top destinations like Dubai** if the right policies are put in place.
Highlighting the economic impact of the **“Dirty December”** festivities, which reportedly generated **over $100 million** in revenue, Adebisi stressed that Nigeria could attract **global tourists year-round** if the sector is well-structured.
> *“If we get our tourism sector right, the potential is limitless. Nigeria could surpass Dubai and become the premier destination in Africa. With 365 days of summer, there’s no reason tourists can’t flock to Nigeria all year,”* he stated.
While acknowledging the efforts of the **current administration**, Adebisi urged **more government investment** in tourism and aviation to maximise their economic benefits.
Similarly, **Group Managing Director Daisi Olotu** echoed these sentiments, arguing that **aviation and tourism require greater attention** to boost Nigeria’s **economic growth**.
*“The current government is trying its best, but if aviation gets the attention it deserves, it will generate more money for operators, agents, and the economy at large.
Tourism has the potential to generate vast amounts of income, and if Nigeria wants to compete globally, it must prioritise these sectors,”* Olotu noted.
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