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By Godwin Oritse
THE Minster of Marine and Blue Economy, Mr. Adegboyega Oyetola, has said that safety on the nation’s territorial and coastal waterways is not merely a regulatory obligation, but a critical enabler of economic growth, trade, and investment.
Speaking at the ongoing Lagos International Maritime Week, Oyetola said that ensuring the safety of the nation’s waters is crucial to securing Africa’s economic future and unlocking the vast potential of the blue economy.
He explained that the absence of safety and security will make businesses encounter heightened risks, operational disruptions, and diminished investor confidence.
Oyetola stated: “Navigating the Future of Africa’s Marine and Blue Economy -Safety First, is especially significant because safety remains the cornerstone upon which all maritime operations and business success rest.
“In the maritime world, safety is not merely a regulatory obligation, it is a critical component and an enabler of economic growth, trade, and investment. Ensuring the safety of our waters is crucial for securing Africa’s economic future and unlocking the vast potential of the blue economy. In its absence, businesses encounter heightened risks, operational disruptions, and diminished investor confidence. However, when safety is prioritized, it fosters a secured and stable environment where commerce prospers, investments grow, and innovation thrives.
“This administration recognizes the compelling need for enhanced maritime security. Through key initiatives such as the Deep Blue Project, we have recorded a quantum leap in reducing maritime crimes, including piracy and smuggling, in Nigerian waters and across the Gulf of Guinea.
“This has made our maritime space safer and more conducive for businesses, resulting in improved throughput, and enhanced efficiency. As safety improves, businesses flourish, and trade becomes more reliable. The significance of this conference theme goes beyond immediate concerns of crime reduction. A safe maritime environment has far-reaching implications for trade, especially intra-African trade, which holds enormous potential for regional economic integration and growth. By ensuring the safety of our waters, we open new shipping routes, strengthen logistics networks, and expand the flow of goods across the continent. This, in turn, promotes trade facilitation, increases cargo throughput, and elevates Africa’s competitiveness in the global maritime space”.
Speaking in similar vein, Convener of the Lagos International Maritime Week, Mrs Tosan Edodo-Emore said that safety is key to the actualization of Africa’s blue economy noting that the introduction of new technologies, the use of alternative fuels and digitalization has had a significant effect on shipping worldwide.
The post ‘Safety on our waters is critical for economic growth’ — Oyetola appeared first on Vanguard News.
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