In a panel discussion at the 29th session of the Nigeria Economic Summit Group, Minister of Marine and Blue Economy, Adegboyega Oyetola, shed light on the challenges faced by the country’s maritime sector. He identified the dominance of foreign shipping companies and infrastructure deficits as primary obstacles but expressed the government’s commitment to launching a comprehensive road map for the marine and blue economy sectors.
Addressing the theme of the summit, “Pathways to Sustainable Economic Transformation and Inclusion,” Oyetola emphasized the need for a strategic policy agenda to position Nigeria as a hub for maritime trade and ancillary services in Africa. He acknowledged the critical role of the maritime sector in supporting an import-dependent economy like Nigeria’s and highlighted key areas for improvement.
The minister stressed the urgency of enhancing navigability, optimizing port draft, achieving 24-hour cargo clearance, and ensuring efficient connectivity between ports and hinterlands through robust road and rail networks. Oyetola underscored the importance of these initiatives for transforming the sector into a regional and international leader.
Elaborating on the ministry’s policy direction for the next four years, Oyetola outlined a multifaceted approach. He emphasized the improvement of waterway navigability, engagement with port drafts, and the implementation of measures to expedite cargo clearance within a 24-hour timeframe. Additionally, he stressed the importance of establishing efficient road and rail networks to seamlessly connect ports with hinterlands.
Expressing the ministry’s commitment to introducing new business models, the minister emphasized the continual dredging of inland waterways. This approach aims to enhance capabilities, stimulate economic growth, and facilitate smoother transportation of goods within the country.
A notable focus of Oyetola’s agenda is the push for presidential endorsement of the use of scanners in port operations. He underscored that globally, seaports have transitioned into digital operations, leveraging digitalization to drive efficiency and eliminate slow processes that can lead to corruption. Embracing technology in port operations aligns with international best practices and can significantly enhance transparency and operational efficiency.
In articulating these strategic priorities, the minister presented a vision for a modernized and technologically advanced maritime sector. The proposed measures aim to overcome existing challenges, foster sustainable economic growth, and position Nigeria as a maritime trade hub on the African continent.
As the government endeavors to transform the maritime sector, the outlined road map reflects a commitment to holistic and innovative strategies. Oyetola’s emphasis on leveraging technology, improving infrastructure, and introducing new business models signals a progressive approach toward sustainable economic transformation and inclusive growth in Nigeria’s maritime and blue economy sectors.
