Nigeria needs strategic investments to harness $296bn Blue Economy potential-expert
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From left: Engineering Manager, Radial Circle, Engr. Ajibade Hamzat, President, Female Seafarers Association of Nigeria, Koni Duniya, Director General, Nigerian Chamber of Shipping, Mrs. Vivian Chimezie-Azubuike, Commercial Manager, AP Moller Apapa Terminals, Temilade Ogunniyi, Digital Adviser to the UK Government, Idongesit Udoh and Director, Geology, Geo-physics, Dr. Adesina Adegbie at the 2023 edition of the African Maritime Art Exhibition AMAE, held in Lagos, Friday.
An Information Communication Technology ICT expert and Digital Adviser to the United Kingdom Government, Idongesit Udoh has said that Nigeria needs to make massive strategic investments in order to harness her huge marine and blue economy potential estimated at over $296billion.
These investments, according to him, would be in the area of human capacity building, acquisition of modern infrastructure, introduction of ICT-based systems, among several others.
The theme of the event is: “THE CONVERGENCE -Maritime Meets ICT”.
Speaking on the topic: ‘ICT Disruptions for the Sustainability of the Blue Economy’ at the ongoing 2023 African Maritime Art Exhibition AMAE, in Lagos, Friday he noted that with a total of 853km of the 47,000 Km of coastlines in Africa, 200 nautical miles of Exclusive Economic Zone in the Gulf of Guinea, the country is truly blessed with abundance of marine resources.
Available statistics also show that the country has a coastline of 290 square km, which is equivalent to almost one-third of her 924sq km land area or 80 per cent of her coastline is made up of the oil and biodiversity-rich Niger Delta.
He defined the Blue Economy as all economic activity relating to oceans, seas, and coasts, including renewable and marine energy, transport and engineering, fishing, and coastal tourism, as well as business and innovation ecosystem growth and support along shorelines. It also includes other related, but not necessarily production industries such as marine research and development R&D and education.
Citing figures from the World Bank, the ICT expert noted volume of economic activities within global Blue Economy sector is currently estimated at over $1.5 trillion annually, and is projected to double to $3 trillion yearly by 2030 and supporting the lives of more than three-four billion people, he however observed that Nigeria needs strategic investments to be part of this huge economy, which is estimated to be the sixth largest in the world.
He listed the challenges facing the country’s Blue Economy sector to include inadequate regulatory framework, limited capacity building, weak or outdated policies and regulations governing maritime activities, which contributes to illegal practices, undermine sustainability efforts, and poses challenges to effective governance.
Other challenges include the lack of infrastructure, political, socio-economic challenges, which comprise the lack of infrastructure, economic disparities, and social issues affect the implementation of effective policies and hampers long-term planning for sustainable Blue Economy development.
He also listed environmental and unregulated practices caused by the lack of technological adoption, which he described not just as a technological challenge but also one that has direct and tangible consequences for the sustainability of the country’s Blue Economy.
It was in view of these challenges that he insists that Nigeria’s Blue Economy needs ICT disruption, especially given that the global Blue Economy sector is undergoing a transformative phase with the integration of ICT.
According to him: “This disruptive force is reshaping traditional practices, enhancing sustainability, and driving innovation across various aspects of the Blue Economy.”
He therefore listed key areas for ICT disruption in Nigeria’s Blue Economy to include real-time monitoring and surveillance and security, comprising technology-driven satellite imaging, IoT sensors and Artificial Intelligence AI.
“ICT Disruption enhances real-time monitoring of marine activities which allows for effective surveillance and enforcement against illegal fishing, piracy, and environmental violations.
The impact of this enhances maritime security, reduces illegal, unreported, and unregulated IUU fishing, and contributes to the sustainable management of marine resources.
“Climate resilience and predictive analytics technology, including climate modelling, big data analytics
disruption are ICT tools that facilitate climate resilience by providing predictive analytics for understanding and adapting to the impacts of climate change on marine ecosystems.
“The impact enables proactive decision-making, aiding in the development of strategies to mitigate climate-related risks. Documentation, storage and cybersecurity, which comprise Cloud Computing, is Cloud-based storage solutions that provide scalable, cost-effective, and secure options for storing vast amounts of data. Big Data Analytics ICT enables the processing and analysis of large datasets, extracting valuable insights from diverse sources of information. Decentralised storage, which comprises blockchain technology, which offers decentralised and secure storage solutions, enhancing data integrity and reducing the risk of data theft.”
Going forward, he insists that Nigeria’s Blue Economy sector should envision a harmonious integration of ICT, fostering innovation, sustainability, and resilience.
“As Nigeria navigates the future of its maritime industry, strategic investments in technology will undoubtedly contribute to a more efficient, secure, and ecologically balanced Blue Economy”, Udoh also said.
Meanwhile, Special Guest at the two-day event and Director General, National Broadcasting Commission NBC, Charles Ebuebu, in an opening remark, commended organisers of the event for not only showcasing the rich tapestry of marine and blue economy but also exposing the intersection of maritime and the ICT as reflected in the theme of the programme.
This, according to him, further reflects the evolving dynamics of these crucial sectors and promises insightful discussions on their sustainability.
“I am particularly excited about the prospect of engaging with other dignitaries during the private view of the exhibition. The initiative taken by Maritime TV Africa through AMAE to use art as a medium to convey the agenda, policies, and causes of the Blue Economy is commendable. Art, with its creative visuals, has the power to evoke emotions and raise awareness, making it an effective tool for shaping societal consciousness.
“The significance of the Blue Economy cannot be emphasized enough. With an estimated worth of $296 billion in Nigeria alone, it stands as a cornerstone of economic potential, offering a multitude of opportunities for diverse careers. The Blue Economy is not merely a sector; it is a catalyst for growth, a source of livelihood, and a nexus of innovation. As we explore the vivid narratives portrayed in the artworks showcased at AMAE, let us delve into the immense impact the Blue Economy holds for our nation and the African continent at large.
“Africa’s economic landscape is intricately interwoven with the maritime sector, supporting nearly 50 million jobs. This symbiotic relationship underscores the pivotal role that maritime activities play in our continent’s development. It is a dynamic ecosystem that not only fosters economic prosperity but also cultivates cultural and social ties. The artworks displayed at AMAE serve as a testament to the deep-rooted connection between our people and the vast expanse of the Blue Economy, portraying its multifaceted influence on our lives.
“The ability of the broadcast sector to effectively communicate the stories of the maritime industry and the Blue Economy is unparalleled. Through engaging narratives, documentaries, and visual storytelling, we can illuminate the vast potential and challenges faced by the maritime sector. By leveraging the broadcast platform, we can bridge the gap between industry stakeholders, policymakers, and the general public, fostering a shared understanding of the Blue Economy’s significance”, the NBC-boss said.
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