Nigeria’s Blue Economy Push: Diversifying the Economy through Sustainable Deep-Sea Exploration and Management

The Minister of Marine and Blue Economy, Adegboyega Oyetola, has emphasized Nigeria’s commitment to sustainable economic growth by harnessing its extensive marine resources.

During a stakeholders’ sensitization workshop on deep-seabed activities in Abuja, Oyetola emphasized the immense potential for deep-sea exploration to significantly boost the country’s economy, especially in light of Nigeria’s advantageous position due to its extensive coastline and inland waterways.

Speaking at the workshop, Oyetola stressed the need for Nigeria to transition away from its reliance on fossil fuels towards a more sustainable marine-based economy, particularly focusing on generating clean energy from wave and tide energy.

Oyetola’s comments highlight the government’s commitment to diversifying Nigeria’s economy and taking advantage of the global surge in deep-sea exploration, which could lead to new opportunities for the country to capitalise on untapped mineral resources.

Recognizing the potential risks associated with deep-sea mining, including damage to fragile ecosystems and biodiversity, Oyetola assured the workshop attendees that the Nigerian government, through the Ministry and the Nigerian Maritime Administration and Safety Agency (NIMASA), is committed to regulating marine safety, preventing pollution, and promoting Indigenous commercial shipping.

Oyetola’s comments showcase the Nigerian government’s recognition of the critical need for a balance between economic growth and environmental protection, as the country seeks to expand its maritime resources beyond oil and gas and join the global movement towards renewable energy and zero-carbon technologies.

With a comprehensive regulatory framework and the establishment of environmental protection guidelines, Nigeria’s Ministry of Marine and Blue Economy and NIMASA are taking a proactive approach to ensure that deep-seabed mining activities are conducted responsibly and sustainably.

This ambitious endeavor underscores the nation’s determination to tap into the immense potential of its marine resources while protecting its natural habitats and promoting economic growth for generations to come.

References and Citations:

• Punch – FG committed to diversification of Nigeria economy- Oyetola
• Businessday – Agric exports lead silent shift in Nigeria’s economy
• Thisdaylive – Nigeria’s economy gets boost from FIIRO’s research initiatives