Maduka University VC Enugu Tasks FG on Harnessing Potentials of Blue Economy

Nigeria’s blue economy holds great potential for the country and can contribute 1.5 trillion dollars to the global economy if properly utilised. The sector is also said to have the capacity to create over 30 million jobs as well as supply vital sources of protein to over three billion people globally. The Vice Chancellor, Maduka […]

Nigeria’s blue economy holds great potential for the country and can contribute 1.5 trillion dollars to the global economy if properly utilised.

The sector is also said to have the capacity to create over 30 million jobs as well as supply vital sources of protein to over three billion people globally.

The Vice Chancellor, Maduka University, Enugu State, Professor Charles Ogbulogo, made this known while delivering a paper as the Special Guest Lecturer at the 2023 Convocation, Matriculation, and Awards Ceremony of Crown Maritime Academy (CMA) with the theme “Marine and Blue Economy Ministry: ‘Catch-Alls and Caveats’ For The Tinubu Administration”.

While delivering his paper titled “The Force of Leadership in Maximising the Blue Economy: A Nigerian Challenge”, Prof. Ogbulogo noted that “humanity has desecrated the ‘bond with nature’ and aquatic life is in grave danger”.

Corroborating the World Bank, the unassuming Grade A academic who was represented at the event by the Rector, CMA, Dr. Musa Akinyemi, explained that the blue economy is the “sustainable use of the ocean resources for economic growth, improved livelihoods, and jobs while preserving the health of the ocean ecosystem.

He said, “The blue economy is also called the ocean economy.” The ocean economy is concerned with the use of ocean resources, with an emphasis on the empowerment of its economic system. Since the core focus of the blue economy is anchored on the receptacle of sustainability, it is a part of the green economy.”

“The world has transitioned from the emphasis on brick-and-mortar business to the era of the knowledge economy, the care economy, the green economy, and the blue economy. And, therefore, there is the fear that, just as has been the case with previous paradigm shifts, many destitute nations would be left behind.”.