Nigeria's Blue Economy: States and Private Sector Key

The Federal Government of Nigeria, represented by Dr. Adegboyega Oyetola, highlighted the critical role of states and the private sector in unlocking the vast economic potential of the Blue Economy.

Speaking at a stakeholder engagement in Lagos, Oyetola emphasized the need for effective implementation of Nigeria's national policy on the marine blue economy. Bayelsa State Governor Senator Douye Diri commended President Bola Tinubu for establishing the Federal Ministry of Marine and Blue Economy, viewing it as a strategic step towards diversifying Nigeria's economy.

Aliko Dangote, President and Chief Executive of Dangote Industries, noted that the success of the national policy relies heavily on sustained private sector participation. The policy aims to create three million jobs within its first four years and achieve an annual sector growth of seven percent, reserving at least 50 percent of new jobs for young people aged 18 to 35.

The discussion underscored the need for quality infrastructure, access to finance, and strong public-private partnerships to unlock the sector's enormous potential.