Adegboyega Oyetola, Minister of Marine and Blue Economy, affirmed the Federal Government’s determination to tackle maritime challenges, aiming to elevate the sector to preeminence in West Africa and beyond. Oyetola made these assertions on Thursday, June 13, 2024, during his address at the maritime conference hosted by Business Day Media Limited.

He emphasized Nigeria’s vast potential, citing its expansive 853-kilometer coastline and advantageous location along crucial global shipping lanes, positioning the country to emerge as a maritime epicenter for West Africa and beyond.

“Yet, harnessing this potential necessitates a united effort to tackle numerous challenges that have impeded the sector’s progress and effectiveness,” he remarked.

The conference convened to explore strategies for unlocking potential and surmounting hurdles within the sector.

Nigeria’s maritime industry is a cornerstone of the nation’s economy, furnishing essential infrastructure for trade, commerce, and connectivity.

The former Osun State governor highlighted the absence of national policy and security concerns, among other issues, as key challenges confronting the sector.

In addressing these obstacles, he noted the ministry’s collaboration with law enforcement agencies to combat water insecurity.

Frank Aigbogun, the publisher of Business Day Media Limited, emphasized in his opening remarks that the maritime sector holds significant importance for the economic advancement of every nation.

“Maritime stands as a profoundly influential economic asset for every nation. The sector is undergoing significant transformation,” he remarked.

Nevertheless, he highlighted that Nigerians sometimes become engrossed in criticisms, overlooking the positive developments within the sector.

The conference presents stakeholders with a platform to network, cooperate and pioneer innovations. Industry titans, government representatives, international experts, and financial institutions converge to foster a vibrant atmosphere conducive to the cultivation of ideas and the formulation of solutions.