NIS boss confirms Nigeria’s blue economy can generate N2.5tn

NIS boss confirms Nigeria's blue economy can generate N2.5tn
NIS boss confirms Nigeria's blue economy can generate N2.5tn

The Acting Comptroller General of the Nigeria Immigration Service, Caroline Wura-ola Adepoju, has emphasized the potential for Nigeria to generate N2.5 trillion through the effective utilization of the Blue Economy.

Adepoju pointed out that currently, 80% of goods and services are imported into Nigeria through water transportation.

N2.5tn from Nigeria’s blue economy

She also expressed concerns regarding waterway pollution, which poses a substantial challenge to international trade.

Adepoju made these statements during a one-day workshop titled “The Coastal State of Rivers and Benefits of the Blue Economy: Stakeholders’ Perspective” held in Port Harcourt.

She commended President Bola Tinubu for establishing the Ministry of Marine and Blue Economy at an opportune time.

Adepoju stated, “N2.5tn can accrue to Nigeria from the blue economy. The oceans cover 72% of the world’s surface.

The seabed, which holds 90% of the deposits, is yet to be fully explored, and experts are still to discover 2.2 million species.”

To fully tap into the latent opportunities of the Blue Economy, Adepoju emphasized that Nigeria must address issues such as pollution caused by spillages and the improper disposal of plastics and non-biodegradable materials that disrupt aquatic and marine resources.

She concluded, “This is of paramount importance for the sustainability of the country’s economy, especially in the field of the ‘blue economy’ and its various derivatives.”