Tinubu seeks regional, global alliance in maritime investment

President Bola Ahmed Tinubu has invited countries, especially those on the African continent, to take advantage of the investment opportunities that abound in the nation’s blue economy. This is as he also implored the Nigerian Navy and other stakeholders to focus on achieving a secure and prosperous maritime future that is beneficial to all, saying […]

President Bola Ahmed Tinubu has invited countries, especially those on the African continent, to take advantage of the investment opportunities that abound in the nation’s blue economy.

This is as he also implored the Nigerian Navy and other stakeholders to focus on achieving a secure and prosperous maritime future that is beneficial to all, saying Nigeria cannot afford to fail in its responsibilities to Africa and the world.

The president made the call yesterday when he declared open the 2024 International Maritime Conference at the Naval Dockyard in Lagos.

Represented by Vice President Kashim Shettima, the president observed that while a flourishing blue economy is the bedrock of every vibrant nation, the only way to attain such an economy is through “a progressive naval force.”

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To this effect, he sought the commitment and devotion of officers of the Nigerian Navy and their international affiliates, describing them as “the lifeguards of our maritime environment.”

The president told the gathering that: “This conference must inspire all stakeholders to see the big picture-that we cannot afford to fail in our responsibilities to the continent and, indeed, the entire world.

“Let us work towards a maritime future that is secure, prosperous, sustainable, and beneficial to all our people and the generations to come. I urge you all to feel at home and take advantage of the investment opportunities that abound in Nigeria’s blue economy.

“The wealth of Africa can never be realised unless we prioritise the protection and development of our maritime environment.

“The blue economy is estimated to be worth more than US $1.5 trillion per year globally and is projected to increase to US $15.5 trillion by 2050. The “Africa Blue Economy Strategy” estimates that the blue economy currently generates nearly US $300 billion for the continent, creating 49 million jobs in the process. The Africa Blue Economy is projected to hit US $405 billion by 2030.”

He congratulated the Nigerian Navy on its 68th Anniversary, saying the nation remains immensely grateful for the service it has rendered in the past 68 years, “serving as a critical pillar of our security,” even as he applauded the marine forces for creating “a sense of balance and stability” in the country.

Speaking earlier, the Chief of Naval Staff, Vice Admiral Ogalla, said the outcome of the 2024 International Maritime Conference organised to commemorate the 68 Anniversary of the Nigerian Navy will go a long way in enhancing its capabilities and strengthening existing collaborations in safeguarding the nation’s maritime environment.

He added that the forum will also offer a veritable platform to consolidate on the achievements of the combined maritime task force in support of the development of the blue economy on the continent, in the sub-region and the nation in particular.