FG partners AU to formulate blue economy strategy
The Federal Government is teaming up with the African Union (AU) through the African Union – Interafrican Bureau for Animal Resources (AU-IBAR) to formulate a comprehensive Blue Economy Strategy for Nigeria.
The Minister of Marine and Blue Economy, Mr. Adegboyega Oyetola, shared this information during a workshop with stakeholders in Abuja on Monday.
They discussed important topics to focus on when creating Nigeria’s National Blue Economy Strategy.
Addressing the gathering, Oyetola suggested that recognizing the vast potential of our national marine resources, the establishment of the enhanced partnership committee on sustainable blue economy in Nigeria was given the green light to create a strategic roadmap for the development of our national blue economy.
He shared that this led to the establishment of the Ministry of Marine and Blue Economy.
“This workshop comes at a time when we are harmonising governance structures, developing strategies and plans of action for promoting blue economy development initiatives and this strategy document is expected to provide a comprehensive framework for harnessing the potential of our oceans while safeguarding its health for the present and future generations.
“One of the greatest challenges lies in balancing economic growth with environmental conservation. Over-exploitation of marine resources, habitat destruction, pollution, and climate change threaten the health and resilience of ocean ecosystems.
“Addressing these challenges requires concerted efforts to promote responsible resource management, mitigate environmental impacts, and build resilience to climate change. However, within these challenges lie significant opportunities.
“The blue economy has the potential to drive inclusive growth, create employment opportunities, and alleviate poverty, particularly in coastal and island communities,” he said.
He stated that through the responsible utilization of the abundant resources found in the nation’s oceans, “we have the opportunity to discover fresh avenues for economic growth, including fisheries, aquaculture, marine tourism, renewable energy, and biotechnology.”
