Don highlights direct economic opportunities in blue economy

Credit: NAN

A renowned Professor of Environment and Climate Change, Prof. Christian Madu, has urged Nigerians to harness the vast opportunities in the blue (marine) economy for job creation and poverty alleviation.

Madu, presenting a paper entitled “Blue Economy – New Opportunities for Nigeria” at the ongoing 2nd Hybrid International Conference of the Institute of Maritime Studies, University of Nigeria, Enugu Campus, on Friday, highlighted the sector’s potential to drive poverty alleviation, food security, and the development of new industries, creating employment opportunities across various sectors.

The Blue Economy, also known as the Marine Economic System; it encompasses economic activities centered on lakes, rivers, seas, and oceans, with a strong emphasis on ecological sustainability.

Madu further noted that at the national macroeconomic level, the blue economy could help transition Nigeria from a crude oil-dependent economy to a diversified economic system with significant foreign earnings.

“We have 18 economic activities identified that can generate earnings and jobs in the Blue Economy.

“These include, coastal tourism, deep seas shipping, short sea shipping (already been done by Nigerians), yachting and marines, and ferry services.

“Others are: fishery services and its value-added chain, inland waterways transport (human and cargo), inland waterways tourism, and inland waterways real estate

“Coastal protection/security services, marine monitoring and surveillance services, and aquatic production (of edible water vegetables, fruits and animals), Cruise tourism, and offshore oil and gas exploration, are included.

“Others are, biotechnology; marine solid mineral mining (already been done by advanced countries); desalination, and offshore energy (sourcing power via tidal/wave energy and ocean thermal energy conversion),” he said.
Madu is also with the Center for Environmental Management and Green Energy (CEMAGE) University of Nigeria.

He also called for development of underdeveloped waterways, lakes, rivers, seas, coastal and marine areas.

According to him, this can be done through dredging and recharging with additional water to these shrinking waterways, lakes, rivers and seas and doing publicity about their economic potentials rather than focusing only on existing sea and coastal lines.

“Expanding the business opportunities as we have shown clearly indicates that new and emerging sectors can be developed; as the traditional sectors may not exploit the vast opportunities available in the blue economy.

“There is a need to develop a sustainable blueprint/policy for the blue economy that is based on Plan-Do-Check (Study) – Act,” he said.

The don called on the government to constantly and clearly define goals and objectives that recognised both the human and ecological needs of the blue economy. .

“Develop legal and regulatory frameworks that insist on sustainability goals; and implementation framework to focus on building local and national economies, and avoiding environmental degradation of the marine and coastal lines.

“View blue economy as an integral part of the national economy and marine and coastal lines as important life support to coastal communities and beyond to uplift their social status.

“Establish consistent standards to protect marine life and exploitation of marine resources,” he added.

The conference has as its theme: “Navigating the Future: Anchoring Sustainability While Bridging the Gap between Economic Growth and Marine Preservation.”