THE Publisher/ Editor-in-Chief of the Naija Times, Ehi Braimah, says the new Ministry of Marine and Blue Economy has the potential to grow Nigeria’s economy if well utilised.
The blue economy entails the sustainable use of ocean resources for economic growth, improved livelihoods, and job creation while preserving the health of the ocean ecosystem.
Speaking on Monday during Channels TV’s Sunrise Daily, Braimah said with the blue economy, the nation has no reason to be in deficit.
He said that Nigeria can achieve this by studying the models of other countries like the Republic of Ireland, South Africa and Seychelles.
“If we get our acts right, Nigeria will be making a lot of money. In fact, we have no reasons to be in deficit,” Braimah said.
“Just imagine, about three years ago, our appropriation budget was N10.5 trillion which is about $ 29.42 billion. We were using the rate at the time. Today, we are having a budget of N21.83 trillion with a deficit of N12.1 trillion.
“If we stop all the leakages and optimise our revenue channels, Nigeria has no business being in deficit.
“As a matter of fact, our revenue every year should be in the region of 40 to 50 trillion naira and the blue economy which has just been created will add to that revenue.
“There are a lot of opportunities…it’s to build a credible strategy and to know more about the blue economy.
“For the benefit of the new minister who would head the ministry, there are already established models so let’s start from there.
“We can learn from the Republic of Ireland, for example, South Africa, Seychelles — they established blue economy models. In 2012, that was the Republic of Ireland, then in 2014 — that was South Africa, then Seychelles was in 2015.
“Secondly, opportunities for growth — revenue growth, job opportunities, livelihood. I can talk about fishing. There is a lot of fishing going on in our coastal communities. I’m also talking about transportation — marine transportation, shipping.”
Braimah, however, urged that if nothing is done, the country will continue to lose revenue to a lack of optimisation of maritime transportation.
Recall that President Bola Tinubu, on August 16, announced the list of the ministers and their portfolios, listing Adegboyega Oyetola as the Minister of Transportation and Bunmi Tunji-Ojo to head the new Ministry of Marine and Blue Economy.
However, days after, the President announced the reshuffling of his cabinet, redeploying Oyetola to the Ministry of Marine and Blue Economy and Tunji-Ojo to the Ministry of Interior.
