Nigeria still tottering at 60 as insecurity cripples maritime sector – The Sun Nigeria

Steve Agbota , [email protected]

With a coastline of 852 kilometres bordering the Atlantic Ocean in the Gulf of Guinea and a maritime area of over 46,000 sqkm , Nigeria is no doubt blessed as a maritime nation. Also, Nigeria possessed a well fresh and mangrove swamps, creeks, coastal rivers, estuaries, bays, and offshore waters. Moreso, eight out of the 36 Nigerian states, with 25 per cent of Nigerias total population, share the Atlantic Ocean coastline.

 However, Nigeria as a country is blessed with abundant resources in its oceans and seas to back its economic diversification and development drive.

But Nigeria at 60, is lagging behind in the comity  of nations when it comes to ship ownership and maritime business. It is also unfortunate that Nigeria is yet to take full advantage and harnessed enormous potential in the ocean economy. 

This explained why Nigeria is losing out in the massive opportunities inherent in the multibillion blue economy even as the current economic output by the worlds oceans is worth $2.5 trillion a year while the total ocean assets, such as coral reefs, mangroves, shipping lanes and carbon absorption, were worth over $24 trillion, about 10 times annual output.

In the 60s, apart from earning revenue from both import and export, one of the major focus of Nigeria in the blue economy is fishing. Nigeria used to habour so many trawling companies and over 300 fishing boats. But today, the trawling companies have packed up while the over 300 fishing boats have....

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