Oyetola Raises Optimism for Indigenous Shipping Devt, Plans Refloating of National Shipping Line Under PPP
OYETOLA
By Our Reporter
The Minister of Marine and Blue Economy, Adegboyega Oyetola on Tuesday left high optimism of an improved indigenous shipping development in the country with the plan by the federal government to refloat a national shipping line.
It would be recalled that the first national shipping line (Nigerian National Shipping Line) was liquidated in July 1995 over poor performance.
Oyetola who spoke during the first ‘Stakeholders’ Roundtable Engagement on Advancing Sustainable Development in Nigeria’s Marine and Blue Economy Sector’ organized by his Ministry, however gave condition under which another national shipping line will be established.
According to him, this would be through a strategic Public-Private-Partnership (PPP) arrangement.
He explained that the target was to ensure that the share of the $10 billion which is spent annually on charter market in the country is captured.
He said that the plan of the government is to transform the nation’s marine and blue economy.
Oyetola called for collaboration for the plan of the government to be achieved, adding that this will bring about a lot of opportunities in the sector.
Oyetola in his address said, “There is an urgent need for a collaborative effort to brainstorm and devise strategies to leverage our marine resources for the betterment of the economy and safety of our planet. It is imperative we come up with practicable ways of ensuring that our Inland Rivers, Lakes and Waterways are well utilised for cargo shipment and passenger transportation.
“This Engagement Forum is crucial to the development of the sector as it offers an opportunity for us all to collectively contribute our perspectives, ideas and offer relevant inputs that can propel the sector to the trajectory of success necessary to support the development of the economy as well as meet the expectations of Mr. President who took the courage to open up Nigeria to focus on the Blue Economy Value Chain.
“The zeal for a better life for Nigerians propelled President Bola Ahmed Tinubu GCFR to recently unveil 8 Presidential Priorities to address critical national challenges. These priorities are to be delivered through eight focus areas, namely: economic growth, food security, energy and natural resources, infrastructure development, security, healthcare, education, improved governance, and job creation.
“Our Ministry though new, is not resting on its oars and has continued to foster Inter-Agency collaborations and implement initiatives to promote Port efficiency, cargo shipment, maritime security and tap into the resources of the Seabed.
“The ministry’s decision to consider the re-establishment of a National Shipping Line, through a strategic PPP arrangement, is borne out of our desire to capture a substantial share of the estimated $10 billion annual ship charter market within the country.
“This initiative will not seek to impede the growth of local players but rather to provide an avenue for them to create and extract more value from the sector, especially through ship construction, maintenance, and repairs. This would enable our local businesses to better leverage the Carbotage Act, which gives Nigerians the exclusive right to control locally generated seaborne trade.
“Other anticipated outcomes include the creation of substantial job opportunities and the facilitation of increased trade and investment in the nation, reinforcing our collaborative and forward-looking approach”.
The roundtable attracted chief executive officers of agencies under the Marine and Blue Economy and other notable stakeholders.
The Minister of Marine and Blue Economy, Adegboyega Oyetola on Tuesday left high optimism of an improved indigenous shipping development in the country with the plan by the federal government to refloat a national shipping line.
It would be recalled that the first national shipping line (Nigerian National Shipping Line) was liquidated in July 1995 over poor performance.
Oyetola who spoke during the first ‘Stakeholders’ Roundtable Engagement on Advancing Sustainable Development in Nigeria’s Marine and Blue Economy Sector’ organized by his Ministry, however gave condition under which another national shipping line will be established.
According to him, this would be through a strategic Public-Private-Partnership (PPP) arrangement.
He explained that the target was to ensure that the share of the $10 billion which is spent annually on charter market in the country is captured.
He said that the plan of the government is to transform the nation’s marine and blue economy.
Oyetola called for collaboration for the plan of the government to be achieved, adding that this will bring about a lot of opportunities in the sector.
Oyetola in his address said, “There is an urgent need for a collaborative effort to brainstorm and devise strategies to leverage our marine resources for the betterment of the economy and safety of our planet. It is imperative we come up with practicable ways of ensuring that our Inland Rivers, Lakes and Waterways are well utilised for cargo shipment and passenger transportation.
“This Engagement Forum is crucial to the development of the sector as it offers an opportunity for us all to collectively contribute our perspectives, ideas and offer relevant inputs that can propel the sector to the trajectory of success necessary to support the development of the economy as well as meet the expectations of Mr. President who took the courage to open up Nigeria to focus on the Blue Economy Value Chain.
“The zeal for a better life for Nigerians propelled President Bola Ahmed Tinubu GCFR to recently unveil 8 Presidential Priorities to address critical national challenges. These priorities are to be delivered through eight focus areas, namely: economic growth, food security, energy and natural resources, infrastructure development, security, healthcare, education, improved governance, and job creation.
“Our Ministry though new, is not resting on its oars and has continued to foster Inter-Agency collaborations and implement initiatives to promote Port efficiency, cargo shipment, maritime security and tap into the resources of the Seabed.
“The ministry’s decision to consider the re-establishment of a National Shipping Line, through a strategic PPP arrangement, is borne out of our desire to capture a substantial share of the estimated $10 billion annual ship charter market within the country.
“This initiative will not seek to impede the growth of local players but rather to provide an avenue for them to create and extract more value from the sector, especially through ship construction, maintenance, and repairs. This would enable our local businesses to better leverage the Carbotage Act, which gives Nigerians the exclusive right to control locally generated seaborne trade.
“Other anticipated outcomes include the creation of substantial job opportunities and the facilitation of increased trade and investment in the nation, reinforcing our collaborative and forward-looking approach”.
The roundtable attracted chief executive officers of agencies under the Marine and Blue Economy and other notable stakeholders.
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