The Minister of Transportation and Blue Economy, Adegboyega Oyetola, has said the blue economy sector holds the key to Nigeria’s economic prosperity and development if fully harnessed.

He said this while speaking to journalists after an interactive session on the Nigerian Shipping and Port Economic Regulatory Agency Bill on Monday.

The minister emphasised the need for continued collaborations to harness the full potential of the blue economy.

Oyetola commended members of the House of Representatives for their unwavering support, particularly in advancing the Nigerian Shipping and Port Economic Regulatory Agency Bill.

The minister highlighted the significance of the blue economy as a key driver for Nigeria’s economic growth and reiterated the government’s commitment to creating enabling frameworks for its development.

The Chairman of the House Committee on Shipping Services, Hon. Abdussamad Dasuki, reaffirmed the lawmakers’ dedication to fostering a robust partnership with ministry.

Dasuki emphasized the legislative role in shaping Nigeria’s maritime policies and ensuring sustainable growth in the sector.

“Our meeting focused on strengthening collaboration, particularly on the Nigerian Shipping and Port Economic Regulatory Agency Bill, which has been passed by both chambers of the National Assembly.

“We also reviewed policy frameworks being developed by the Ministry to support the blue economy agenda,” he said.

Dasuki underscored the strategic importance of the blue economy in diversifying Nigeria’s revenue base and creating employment opportunities.

He noted the committee’s commitment to ensuring legislative alignment with the ministry’s objectives, adding,

“This was an opportunity to put heads together and identify areas for mutual support. The committee remains steadfast in its resolve to support the Ministry’s efforts to grow the maritime sector and, by extension, the national economy.”