VP INAUGURATES COMMITTEE TO TAP MORE BENEFITS FROM OCEANIC RESOURCES
Vice President Yemi Osinbajo, on Monday in Abuja inaugurated an Expanded Partnership Committee on Sustainable Blue Economy. The committee which is being chaired by the Vice President is composed of State Governors, several ministers, representatives of military and security agencies and other members from the private sector.
The Blue Economy is the sustainable use of ocean resources for economic growth, improved livelihoods and jobs while preserving the health of ocean ecosystems. It entails emerging renewable energy, seabed extractive activities and marine biotechnology and bio-prospecting.
Osinbajo stated that the blue economy offers a whole new opportunity for economic activity especially in areas close to oceans, rivers and coasts.
The inaugural event was attended by the Governor of Borno State, Babagana Zulum, the Minister of Industry, Trade and Investment, Otunba Niyi Adebayo; Minister of State for Environment, Sharon Ikpeazu; Minister of State for Power, Godwin Agba; and the representative of the Transportation Minister, Magdalene Ajani, Permanent Secretary, Ministry of Transportation. Others include the Chief of Naval Staff, Rear Admiral Awwal Zubairu Gambo; Comptroller-General of Customs, Col. Hameed Ibrahim Ali (Rtd); Director-General of NIMASA, Bashir Jamoh, amongst others, and private sector representatives.
The Committee’s Terms of Reference include providing an assessment of the current realities, opportunities and challenges for economic diversification and the growth of a sustainable blue economy in Nigeria, as well as identifying and reviewing relevant policies and institutional/capacity building mechanisms for blue economy development in Nigeria, and others.
