Blue Economy Ministry Designating Terminals for Fishing Activities, Oyetola Assures World Bank

By DAPO OLAWUNI

The World Bank has expressed interest in collaborating with Nigeria to enhance the development of its Marine and Blue Economy sector, particularly in sustainable fisheries. During a courtesy visit to the Minister of Marine and Blue Economy, Adegboyega Oyetola, the leader of the World Bank team, Ms. Lia Sieghart, highlighted the bank’s readiness to support the ministry’s vision for a sustainable and integrated Blue Economy, with a focus on fisheries.

Ms. Sieghart praised President Bola Ahmed Tinubu for establishing the ministry, noting that it signaled Nigeria’s commitment to the sustainable development of the marine sector. “We are here to discuss the government’s vision for a sustainable and integrated Blue Economy and fisheries sector and to explore how the World Bank can assist with expertise and knowledge,” she said.

In response, Minister Oyetola assured the team that fisheries are a top priority for the ministry, with significant efforts underway to regulate the industry and establish designated terminals for fishing activities. He emphasized the importance of creating sustainable fisheries that attract youth participation while boosting local production and reducing reliance on imports.

“Fishery is the flagship of the ministry. We are doing everything to regulate the activities in that sector. We are designating terminals for fishing activities and want to implement a sustainable fishery programme that will appeal to the youth. Our goal is to reduce importation and encourage production here in Nigeria. Therefore, we are open to your support in achieving this vision,” Oyetola stated.

He further informed the World Bank team about the ministry’s steps to map Nigeria’s marine resources as part of its broader Blue Economy development strategy.

The meeting included key officials such as the Permanent Secretary of the Ministry, Oloruntola Olufemi; Director of Maritime Safety and Security, Babatunde Bombata; and Technical Aide to the Minister, Prof. Busayo Fakinlede, who all reiterated the ministry’s commitment to making fisheries a cornerstone of Nigeria’s Blue Economy.