Osun APC chief urges Tinubu to support blue economy

The Chairman of the All Progressives Congress in Osun State, Oladunbosun Oyindiloye, has appealed to President Bola Tinubu to give maximum support to the development of the blue economy and replace crude oil in revenue generation.

Oyintiloye made the plea while addressing newsmen on Sunday in Osogbo, the Osun state capital.

said the ABC chairman
Harnessing the potential of the ocean and blue economy sector
It has the potential to redefine sustainable growth in national GDP.

With the Marine and Blue Economy Minister’s plan, Windiloye said.
Gboyega Oyetola said the blue economy could generate $20 billion annually and create two million jobs, thereby adding huge value to the country’s economy.

The former lawmaker also said that experts have predicted that the untapped potential in the marine and blue economy sector is believed to be worth $296 billion.

I would like to commend the President for creating the Ministry of Marine and Blue Economy.

“I believe it can be an alternative source of revenue generation for the country if harnessed well, with huge potential embedded in it.

„That’s why we need to unlock the potential of the ocean and the blue economy to revive the declining economy and reduce our dependence on crude oil,” he said.

He said investing in the marine and blue economy sector would yield many compelling benefits.

„This will not only diversify and stimulate economic growth, but will also play an important role in improving ocean health and protecting marine ecosystems.

„By fostering sustainable livelihoods, creating jobs and promoting marine tourism, the blue economy protects our oceans while strengthening communities against climate change impacts,” he said.

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“Fishing has been identified as one of the low-hanging fruits and government needs to address and leverage more Nigerian fishing trawlers into the fishing industry to stem capital flight and retain value domestically,” he said.

Oyedolaye, who commended what Oyetoola is doing to harness the power of the blue economy in the sector, said no matter the distance, Nigeria will start reaping the benefits of the marine economy for all-round development.

However, to establish a sustainable development in Ektor, it is necessary to create an economic and financial system capable of channeling financial resources to maritime shipping, fishing and aquaculture, coastal tourism, renewable marine related activities, he said. Energy, Water Desalination, Subsea Cabling, Subsea Extractive Industries and Deep Sea Mining, Marine Genetic Resources and Biotechnology.

Ointiloye said that with the various economic policies implemented by the President, Nigerians will smile again.

The Nigerian economy will feel a positive impact if marine related activities such as maritime shipping, fishing and aquaculture, coastal tourism, renewable energy, water desalination, subsea cabling, subsea extractive industries and deep sea mining, marine genetic resources and biotechnology receive proper investment. . This can be done by focusing people’s attention on it. The government and individuals should start looking at this sector as a sector with huge potential for investment and make an effort to do so,” he concluded.

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