Creation of Ministry of Marine, Blue Economy to Drive N7trn Revenue Collection

Olisa Agbakoba, a Senior Advocate of Nigeria has commended President Bola Tinubu for yielding to the long-awaited policy advocacy of the nation’s maritime community by creating the Ministry of Marine and Blue Economy to drive growth in the sector.

According to Agbakoba, the maritime sector, which has the capacity to generate over N7 trillion per annum, has been a distinctly ignored sector of Nigeria’s economy.

“This has been a major omission. Nigeria is a maritime nation and must advance policy issues to tap into the absolutely massive economic opportunities. This is a sector that will, with the proper direction of the government easily contribute at least N7 trillion to the public revenue,” he said.

While expressing delight that after 30 years of advocacy on major maritime policy, a Minister for marine and blue economy has finally been named, he listed key aspects of maritime policy focus to include the enforcement of Cabotage legislation, ports development, ocean governance and the blue economy.

Agbakoba said in addition to many aspects of this incredibly wealthy sector, said Nigerians are looking forward to robust policies by the government in the new administration.

Recall that President Bola Tinubu recently announced the appointment of Bunmi Tunji-Ojo, a former member of the House of Representatives, as the minister in charge of the newly created Ministry of Marine and Blue Economy.