The Chairman of the House of Representatives Committee on Petroleum Resources (Downstream), Hon. Ikenga Imo Ugochinyere Ikeagwuonu, has commended the decision by President Bola Ahmed Tinubu to create the Ministry for Marine and Blue Economy and subsequently choosing a House of Representatives Member, Hon. Olubunmi Tunji-Ojo, as the Minister of the newly created Ministry.
Ugochinyere, in a statement on Friday, said the President made the right choice as the new ministry, which is long overdue, will unlock new economic potentials.
The lawmaker, who represents Ideato North/South Federal Constituency of Imo State, said that there were new opportunities around Nigeria, and they included exploring the concept of blue economy.
He said, “The blue economy is the sustainable use of ocean resources for economic growth, improved livelihoods, and jobs while preserving the health of the ocean ecosystem. This ministry is long overdue in the face of our dwindling economic fortunes and, more importantly, to support the diversification of the economy.
“I commend the President for choosing Hon. Olubunmi Tunji-Ojo as the Minister of this newly created ministry. I believe with his wealth of experience in the private and public sector, he will unlock the new economic potentials that lie in the sector.”
Ugochinyere said with Tunji-Ojo in the saddle, Nigeria will benefit from the over $1.5 trillion worth World Blue Economy with the creation of Marine and Blue Economy Ministry by President Tinubu.
LEADERSHIP reports that blue economy is marine-based economic developmental process, which leads to improved wellbeing through sound management of marine resources, fisheries,shipping, aquaculture, tourism, transportation and maritime and inland ports.
“However, despite the massive resources in the blue economy which involve marine transportation and exploitation of living and non-living resources in the maritime environment, it has been revealed that the Nigeria’s maritime sector is losing trillions annually due to its inability to exploit this resource base and with the new opportunities, things will positively improve,” Ugochinyere pointed out.
