The Federal Government has announced that it is considering re-establishing a National Shipping Line that is projected to add $10 billion dollars to Nigeria’s economy yearly.
The Minister of Marine and Blue Economy, Adegboyega Oyetola, made this known on Tuesday at the Continental Hotel, Lagos, during a Stakeholders’ Roundtable discussion on ‘Advancing Sustainable Development in Nigeria’s Marine and Blue Economy’.
The minister explained that the Ministry of Marine and Blue Economy will operate on the Public-Private Partnership (PPP) arrangement to deliver strategies and policies that will drive developments in the maritime sector of the economy.
Furthermore, Oyetola pointed out that Nigeria’s minister maritime sector can be transformed through the PPP arrangement to bring about positive impacts such as job creation and improved trade and investment in the nation.
Oyetola also disclosed that the ministry, under his leadership, will play a crucial role and take advantage of the country’s expansive coastline along the Atlantic Ocean and a network of potentially navigable waterways to foster sustainable economic growth in the nation.
In her remarks, the Permanent Secretary, Ministry of Marine and Blue Economy, Dr. Magdalene Anjani, pointed out that Nigeria’s maritime sector is a major source of revenue earnings for the country, an enabler of trade, and a key engine of economic growth and sustainable development.
