Boosting National Economy with Marine Resources
By Francis Ugwoke
The global economy has in the past few years faced economic depression. For many countries of the world, this scenario requires a strong thinking cap on the way forward. Each country has different approaches to solving their economic problems. The United States of America apparently worried about the huge revenue spent on crude oil importation annually has for some years now been planning for an alternative to fuel. Other advanced countries are not left out. The need to develop alternative to fuel among these countries is also the fear of having a population in which available fuel imports will not be enough to serve the populace in terms of demand. This will indeed lead to monumental economic crisis. Statistics have it that apart from the United States with its fossil fuels projects as alternative to fuel, other advanced countries are developing renewable energy resources. They are solar energy, wind power, geothermal energy and biomas. Reports said China, India and Brazil spent as much as $156 billion in 2015 on renewable projects apparently to make such sources of power affordable to the citizens. In doing so, the countries are advancing with their dreams of what could boost their national economies.
Nigeria’s Approach
With such global trends, developing countries who have relied on oil revenues over the decades have not been left out. In Nigeria, economists see new tax regime as capable of helping in financing annual budgets that run into trillions of Naira. But there are cautions on implementation because of the likely economic and political consequences. However, in the maritime sector, a new concept is being developed as survival strategy. This is with the maritime sector being ranked as next to oil in terms of contributions to the national economy. The new concept is simply on developing the marine resources which hold huge revenue potential. The concept has been on in the past two or three years and being championed by the apex maritime regulatory agency – the Nigerian Maritime Administration and Safety Agency (NIMASA). It is the brainchild of the current leadership and management of the agency. This is seen as supporting the economic diversification drive of the federal government.
Experts on wealth beneath seas
Maritime industry experts believe that there is huge wealth beneath the seas in the entire world, including Africa and Nigeria in particular. It is no doubt the potential of the nation’s ocean resources that NIMASA is aiming at, to take advantage of such natural resources to open up the economy that has for too long relied on oil. The former Managing Director of Ghana’s Shippers Authority, Prof. Kofi Mbiah during a visit to Nigeria about two years ago also spoke on the huge potentials of the seas of the continent of Africa that can be developed.
Kofi said “When we speak with common voice, we will be able to do this. We are at the ends strategy. The African Union (AU) is looking at integrating maritime strategy up to the year 2050, and to what extent? It should not just be mere talk. It should be a question of isolating and seeing that key elements will transform our economies. The sea is a gift of God, but it has a potential. It has a capacity to be able to transform completely the lives of the entire West African region. If only we harness the resources from its tourism potential, its fishery potential, its oil and gas potential, its wave energy potential, there are so many things we can do as far as the sea is concerned. We can forget about what we have on land, I can tell you the sea alone can transform the West African economies”.
On the occasion of the celebration of the Africa Day of the Oceans in July this year, Prof Babajide Alo of Faculty of Science, University of Lagos, spoke on the 2030 Agenda for Sustainable Development adopted by all members of the United Nations in 2015 which provides a blueprint for peace and prosperity for people and the planet, now and into the future. This is about how to conserve and sustain the use the oceans, seas and marine resources by nations for sustainable development. The UN, Alo said ,“presupposes that abundant living resources inhabit the oceans”. Oceans and seas, he said, cover over two thirds of Earth’s surface, contribute to poverty eradication by creating sustainable livelihoods and decent work, provide food and minerals. Besides, he said, “with an estimated 80 percent of the volume of world trade carried by sea, international shipping and ports provide crucial linkages in global supply chains and are essential for the ability of countries to gain access to global markets. Alo identified modes of marine biodiversity contribution to economic growth as harvesting and trade of marine living resources, seafood harvesting, trade of non0edible seafood products, use of marine living resources for pharmaceutical products and chemical application through provision of raw materials for various drugs and pharmaceuticals. He added, “with the rich and often underexplored marine biological diversity, many coastal developing countries like Nigeria have the potential to enter into discovery and development of marine genetic resources. He charged Nigeria to ensure that marine biodiversity especially genetic resources from the ocean that are either under national jurisdiction are given priority in terms of development in view of their economic value from their exploitation. He advised that potential expansion of economic activities in our coastal and offshore areas must be done sustainably and in line with laid down regulations.
He said, “Exploration and exploitation of the important marine biodiversity and the ocean resources can be achieved without total destruction of livelihoods, the environment and human health”.
He added, “NIMASA as the focal agency for safe seas in Nigeria must actively invoke its many instruments for preventing marine pollution and conservation and sustainable management of Nigeria’s marine resources to maximize their abundant benefits”.
Efforts on developing marine resources
At the recent celebration of ‘African Day of Seas and Oceans’, NIMASA had stressed the importance of marine resources to the national economy. It was an occasion for the agency to rally the whole country to discuss how to reap the full benefits of Nigeria’s vast maritime endowments. It would be recalled that the Director –General of NIMASA, Dr. Dakuku Peterside had in June stated that the nation’s ocean’s resources were rich enough to sustain the economy of Nigeria as most countries with maritime based economy. Dakuku had on the occasion called on all to “support the Federal Government’s efforts in taping into the blue economy and develop it to such a level that it can contribute far more greatly as projected”.
He referred as example countries such s Singapore, Philippines and Malta along with the world great economies like the United States, United Kingdom, Japan, Russia and China who made huge wealth through their oceans. He said this is even moreso with about 90 percent of world trade being done by sea and shipping, He had on the occasion said Nigeria needs to join the league of such great countries by engaging its waters more profitably.
He said, “The World Oceans Day celebration inspires the thinking that recognizes that there is one global ocean that connects the entire world. Within this one ocean, there are five distinct oceans: the Pacific Ocean, Atlantic Ocean, Indian Ocean, Arctic Ocean, and Southern Ocean. And it is already happening that the boundaries of these oceans are invincible and so it is important that we take steps to ensure that we tap the abundant resources inherent within our maritime endowment because our lives as a nation depends hugely on it”.
While championing the blue economy, Dakuku had also during the celebration of the ‘African Days of the Seas’ stressed the need to protect marine environment which he said his agency is taking seriously. He also said NIMASA’s efforts in this area have been recognised by the International Maritime Organisation (IMO).
In this regard, NIMASA has so far forwarded some marine environment management instruments to the government for ratification. Among the list include the Hong Kong Convention for the Safe and Environmentally Sound Recycling of Ships, 2009; International Convention on Standards of Training, Certification and Watchkeeping for Fishing Vessel Personnel; the Protocol Relating to Intervention on the High Seas in Cases of Oil Pollution Casualties Intervention), 1973; and Protocol on Limitation of Liability for Maritime Claims (LLMC), 1996.
On the same occasion of the African Days of the Seas, the Speaker of the House of Representatives, Hon. Femi Gbajabiamila equally said the nation’s maritime resources must be sustainably tapped as they represent a vital economic safeguard and vehicle for the successful implementation of the President Muhammadu Buhari government’s Economic Recovery and Growth Plan (ERGP).
Gbajabiamila assured that the legislature would support every effort by the executive to ensure sustainable management of the country’s vast marine resources.
The Speaker who was represented by Hon. Linda Ikpeazu, said, “Efficient management and sustainable exploitation of the marine resources in our seas and oceans, no doubt, provide a veritable tool for our Economic Recovery and Growth Plan as a country and give expression to our sustainable development goals.”
“We will support the sustainable governance of Nigeria’s seas and oceans and the efforts of the executive arm of government that would see the effective domestication of relevant international conventions of the International Maritime Organisation on marine environment management through legislative enactments.
“The National Assembly would also work with the executive arm in putting in place the necessary legal framework for the Blue Economy to engender and protect the Nigerian marine environment and development of the ocean economy.”
The Chairperson, Head of the Civil Service of the Federation, Mrs. Winifred Oyo-Ita also gave government support to the efforts by NIMASA on developing marine resources. Oyo Ita who was represented by the Permanent Secretary, Common Services, Dr. Bakare Wadinga, disclosed that maritime security and development were a top priority of the government in the execution of the ERGP.
Similarly, the Permanent Secretary, Federal Ministry of Transportation, Sabiu Zakari, noted that Nigeria with over 850 kilometres coastline was blessed with abundant resources to back its economic diversification and development drive. Zakaria who was represented by Director, Maritime Safety and Security in the ministry, Dr. Danjuma Dauda, equally assured of government’s commitment to the development of the maritime sector.
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