Vice President Yemi Osinbajo on Monday inaugurated an Expanded Partnership Committee on Sustainable Blue Economy at the Presidential Villa.
The committee chaired by Osinbajo comprises state governors, ministers, representatives of security agencies, and other members from the private sector.
Senior Special Assistant to the Vice President on Media and Publicity, Laolu Akande, disclosed this in a statement titled, ‘VP inaugurates committee to tap more benefits from oceanic resources.’
According to Laolu, by bringing together top officials from the federal and state governments, international agencies alongside other stakeholders, the Buhari regime is set to further explore the economic opportunities available through oceanic and marine resources around the country.
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, marine biotechnology, and bioprospecting.
Speaking at the event, the VP was quoted as saying, “The blue economy offers a whole new vista of opportunity for economic activity especially in areas close to oceans, rivers and coasts, but more importantly, perhaps the entire country, because practically everywhere has some body of water that can be exploited.”
On the committee’s composition, he noted that it has “representatives from the states and the geo-political zones, we have agency representation, Chief of Naval Staff, Comptroller-General of Customs, NIMASA and several other agencies. There are also ministries such as the Ministry of Industry, Trade and Investment, Ministry of Power, Ministry of Petroleum, Ministry of Environment.
“There will be several agencies and several interactions between institutions because we are dealing with ports and terminals, oil and gas, the environment, tourism, hospitality–a whole range of economic activities that are connected to what is described as the Blue Economy.”
The inauguration was attended by the Governor of Borno State, Prof. Babagana Zulum; Minister of Industry, Trade and Investment, Niyi Adebayo; Minister of State for Environment, Sharon Ikpeazu.
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