Oyetola Woos CitiBank to Invest in Nigeria’s Blue Economy<\/p>\n
The Honourable Minister of Marine and Blue Economy, Dr. Adegboyega Oyetola has declared Nigeria open for business, saying the Federal Government is ready to work with global partners to unlock the nation\u2019s marine and blue economy.<\/p>\n
Oyetola made the declaration on Wednesday during a courtesy visit by a Citibank delegation led by Akin Dawodu, Sub-Cluster and Banking Head for Sub-Saharan Africa, and Nneka Enwereji, Managing Director of Citibank Nigeria, at the Ministry\u2019s headquarters in Abuja.<\/p>\n
The Minister said Nigeria\u2019s maritime assets present immediate opportunities for investment, job creation, and trade expansion. These include an 853-kilometre coastline, over 10,000 kilometres of inland waterways, and a 200-nautical-mile Exclusive Economic Zone.<\/p>\n
\u201cNigeria is open for business, structural transformation, and strategic partnerships,\u201d Oyetola stated. \u201cUnder President Bola Ahmed Tinubu, we are implementing reforms to attract global capital, strengthen infrastructure, and drive inclusive growth.\u201d<\/p>\n
He disclosed that rehabilitation contracts have been awarded for the Eastern Ports in Port Harcourt, Warri and Calabar, to complement ongoing modernisation at Apapa and TinCan Island in the West.<\/p>\n
The Federal Government is also facilitating at least six deep sea port projects in Badagry, Ondo, Ibom and Bonny through Public-Private Partnerships. Under the model, states will drive commercial investments while the Federal Government provides regulation and licensing.<\/p>\n
Beyond ports, Oyetola invited investment in fisheries, aquaculture and maritime security, noting that Nigeria currently produces about 1.4 million metric tonnes of fish annually against demand of over 3.2 million metric tonnes, leaving a supply gap of 1.83 million metric tonnes. He said the gap offers opportunities in sustainable aquaculture, processing, cold-chain logistics and export production.<\/p>\n
On security, the Minister said the Deep Blue Project has kept Nigerian waters piracy-free for nearly four years. The achievement, he added, contributed to Nigeria\u2019s recent election to Category C of the International Maritime Organization Council. He urged Citibank to explore financing options to expand maritime surveillance and security assets.<\/p>\n
Speaking for the delegation, Dawodu commended the Ministry\u2019s reform agenda and said Citibank has strong interest in Nigeria\u2019s blue economy. He said the bank will deepen talks with the Nigerian Maritime Administration and Safety Agency, NIMASA, on capital-intensive projects, following recent8 engagements with stakeholders like Mediterranean Shipping Company, MSC.<\/p>\n
In a statement, Anastasia Ogbonna, the Ministry Director of Information and Public Relations stated that the meeting reinforces the Ministry’s drive to position Nigeria as a leading destination for sustainable maritime investment in Africa.<\/p>\n","protected":false},"excerpt":{"rendered":"
Oyetola Woos CitiBank to Invest in Nigeria’s Blue Economy The Honourable Minister of Marine and Blue Economy, Dr. Adegboyega Oyetola has declared Nigeria open for business, saying the Federal Government is ready to work with global partners to unlock the nation\u2019s marine and blue economy. Oyetola made the declaration on Wednesday during a courtesy visit […]<\/p>\n","protected":false},"author":2,"featured_media":151109,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2,18],"tags":[3098,3097,3095,3096],"class_list":["post-151108","post","type-post","status-publish","format-standard","has-post-thumbnail","category-featured","category-news","tag-blue-economy","tag-boyega-oyetola","tag-citi-bank","tag-nimasa"],"yoast_head":"\n