Chairman House of the Representatives Committee on Petroleum Resources (Downstream), Hon. Ikenga Imo Ugochinyere, has commended the decision by President Bola Ahmed Tinubu to create the Ministry of Marine and Blue Economy and the appointment of a member of the Green Chamber, Hon. Olubunmi Tunji-Ojo as the minister of the newly created ministry.
Ugochinyere, in a statement issued on Friday, said with Tunji-Ojo as the minister, Nigeria will benefit from the over $1.5 trillion worth World Blue Economy with the creation of the new ministry.
“Blue economy is marine-based economic developmental process which leads to improved wellbeing through sound management of marine resources, fisheries, shipping, aquaculture, tourism, transportation and maritime and inland ports.
“However, despite the massive resources in the blue economy which involve marine transportation and exploitation of living and non-living resources in the maritime environment, it has been revealed that the Nigeria’s maritime sector is losing trillions annually due to its inability to exploit this resource base and with the new opportunities ,things will positively improve,” he stressed.
According to him, the President made the right choice in Tunji-Ojo for the ministry, which he described as long overdue for unlocking new economic potentials in the country.
The lawmaker, who represents Ideato North, South Federal Constituency of Imo State, further declared that “there are new opportunities around us, and they include exploring the concept of blue economy.”
He said: “The blue economy is the sustainable use of ocean resources for economic growth, improved livelihoods, and jobs while preserving the health of the ocean ecosystem. This ministry is long overdue in the face of our dwindling economic fortunes and, more importantly, to support the diversification of the economy.
“I commend the President for choosing Hon. Olubunmi Tunji-Ojo as the minister of this newly created ministry. I believe with his wealth of experience in the private and public sector, he will unlock the new economic potentials that lie in the sector.”
