In his book, “The Blue Economy: 10 years, 100 innovations, 100 million jobs” , Gunter Pauli brought the Blue Economy concept into prominence. The Blue Economy is envisaged as the integration of Ocean Economy development with the principles of social inclusion, environmental sustainability and innovative, dynamic business models.
It is founded upon a systems approach, where there is effective and sustainable use of martime resources for the well being of human development and a nation as a whole. Exploration of mineral resources ,tourism , and exploration of the oil belt within an ocean will reduce the import bills of crude oil which weigh heavly on Nigeria. This will, in turn, reduce the current account deficit which is one of Nigeria’s biggest problems.
In this vein, Dakuku Peterside, Director-General, of the Nigerian Maritime Administration and Safety Agency (NIMASA), has called on Nigerian investors to key into the opportunities in the nation’s blue economy, which is now the world’s fastest growing sector that has enormous potentials.
Dakuku said that:
- The length of Nigeria’s coastline and the attendant volume of maritime trade provide Nigeria an advantage as a developing nation.
- Stakeholders must actively participate in the sector in order to reap benefits.
- Developing the blue economy is paramount across the globe now, and the public and private sectors have to collaborate to sustainably harness the potentials of Nigeria’s maritime sector for the benefit of the Nigerian economy especially in the wake of the Federal Government’s economic diversification drive.
- Economies of countries like Singapore, Ukraine and South Korea thrive on the activities of their maritime sectors. Nigerians need to begin tapping into these opportunities too.
- An improved maintenance culture, adequate data management and statistics, articulated actions from stakeholders, and political will can make Nigeria a leading light in the comity of maritime nations.
Benefits of Blue Economy you must know about:
- Providing a boost to coastal and national economies.
- Generating new employment, skill-sets and capacities.
- Promoting entrepreneurship in new areas of economic activity.
- Facilitating the interconnectedness of the regional economy.
- Utilising the vast, untapped potential of the Ocean.
- Contributing to sustainable development and climate change mitigation.
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