The Minister of Marine and Blue Economy, Adegboyega Oyetola, has announced the ministry’s commitment to leveraging Public-Private Partnership (PPP) models for sector transformation.
Oyetola, while speaking at the first Stakeholders’ Roundtable Engagement with the theme Advancing Sustainable Development In Nigeria’s Marine and Blue Economy in Lagos, emphasized the collaborative synergy between private sector efficiency and public sector oversight, aimed at reviving the National Shipping Line through a strategic PPP arrangement.
The Minister highlighted the initiative’s goal to secure a substantial share of the estimated $10 billion annual ship charter market within the country
He reassured stakeholders that the revival would not hinder local players’ growth but rather provide opportunities for them to enhance value through ship construction, maintenance, and repairs, aligning with the Cabotage Act granting Nigerians exclusive control over locally generated seaborne trade.
Oyetola further called for collaborative efforts to harness marine resources for economic development and environmental safety, addressing critical national challenges outlined in President Bola Ahmed Tinubu’s priorities.
Speaking earlier thePermanent Secretary of the Ministry of Marine and Blue Economy, Dr. Mrs Magdalene Ajani also underscored the importance of inter-agency collaborations and initiatives promoting port efficiency, maritime security, and tapping into seabed resources.
Emphasising the ministry’s dedication to addressing challenges, the Permanent Secretary echoed a commitment to a continuous Stakeholders’ Engagement, ensuring industry safety, reliability, and sustainability.
