President Muhammadu Buhari’s administration is set to further explore the economic opportunities available through oceanic and marine resources in Nigeria.
This is as the Vice President, Professor Osinbajo inaugurated an Expanded Partnership Committee on Sustainable Blue Economy on Monday at the Presidential Villa.
The committee, chaired by Osinbajo composed of State Governors, several Ministers, representatives of Military and Security agencies, and other members from the Private sector.
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, and marine biotechnology and bio-prospecting.
Osinbajo stated that “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.”
