National President, Association of Nigerian Licensed Customs Agents ANLCA, Hon. Iju Tony Nwabunike (second from right) and other speakers at 8th Annual Transport Lecture organised by Transport Day Newspaper at Sheraton Hotels, Lagos, Friday.

The National President of Association of Nigerian Licensed Customs Agents ANLCA, Hon. Iju Tony Nwabunike has made a strong case for the development and harnessing of the vast resources embedded in Nigeria’s seas and oceans, also called the Blue Economy, saying this remains the most viable option for her quest towards economic diversification and prosperity.

He also insists that current realities in the global oil market have made the country’s monolithic oil economy very unsustainable, a development that calls for urgent measures to reverse her present economic woes by harnessing her maritime potential in line with the economic diversification agenda of the present administration.

Speaking on the topic: “Blue Economy: Pathway for Nigeria’s economic diversification” at the 8th edition of Nigeria Annual Transport Lecture organised by Transport Day Newspaper in Lagos, Friday. He adopted the World Bank definition which sees the blue economy as the “sustainable use of ocean resources for economic growth, improved livelihoods, and jobs while preserving the health of ocean ecosystem and that of the European Commission, which defines it as “all economic activities related to oceans, seas and coasts.

He also cited the Biblical concept of the Blue Economy as captured in Isaiah 60:5, which says: “Then you shall see and become radiant. And your heart shall swell with joy; Because the abundance of the sea shall be turned to you.” (New King James Version).

According to him, Nigeria’s 853km long coastlines run through seven of the southern states comprising, Lagos, Ondo, Delta, Bayelsa, Rivers, Akwa Ibom and Cross Rivers, bordering the Atlantic Ocean and are linked by other inland waters for copious socio cultural and commercial activities. These are in addition to navigable inland waters, which comprise rivers, lakes, lagoons, creeks and those directly linking to the sea.

He noted that the country should begin to work on the irony and contradiction of being touted as very rich in maritime resources, rich in oil and gas, transported by sea but also being tagged recently as the world’s poverty capital, taking over from India.

While insisting that maritime transport is the key to unlock most of the untapped opportunities in the oil industry and will go a long way in supporting government’s effort at addressing insecurity in our coastal area, he also noted that the industry also has the ability to create over 30, 000 jobs if these opportunities were harnessed.

He listed the opportunities to include areas such as import and export, fishing, tourism, transport, chandelling dredging, among several others, which also have the potential to give governments at all tiers more taxes and provide sustainable earnings that will go round than what the country earns from the oil sector presently.

“Nigeria’s economy cannot afford to keep quaking anytime there is a downward slide in prices of oil in the international market. Staying on that economic route as our only lifeline for sustainability will only lead us into piling debts upon debts and going cap in hand for debt forgiveness where we are unable to pay. It is time to look the direction of our waters.

“Over 97 per cent of ships lifting Nigeria’s crude oil to buyers in refining countries and vessels bringing refined petroleum products into the country are foreign- owned. These ships trading on our waters and carrying our number one foreign exchange products are manned mainly by foreign professionals and deck hands. Nigerian ship owners are struggling to break into this area of investment.

“Notable number of Nigerians are involved as crew members onboard Liquefied Natural Gas and Liquefied Petroleum Gas (LPG) vessels under the Nigeria LNG Limited and its subsidiary, Nigeria LNG Ship Management Limited (NSML).

“I have to identify this because it’s worth replicating in other areas and made to spread across the industry where Nigerians will be first line beneficiaries of benefits derivable from our natural maritime endowments”, he argued.

While insisting that the country should at this point look beyond oil, he listed some of the challenges in harnessing the maritime potential, which according to him, include general insecurity either due to lack of priority attention, inadequate security platforms such as patrol boats, aircrafts and supporting technology gadgets and lesser number of personnel to implement or enforce adherence to security regulations on the waters.

He said: “Maritime piracy, sea robbery, oil theft, kidnapping on water or through the waters have been copiously recorded in the domain that should be contributing to our economic wellbeing. I am almost tempted to say that Nigeria’s Exclusive Economic Zone EEZ is no longer exclusive to us because the people I choose to call maritime bandits are threatening our space.

“But I am aware that the Federal Government (through Nigerian Maritime Administration and Safety Agency) is rising to the occasion with planned deployment of advanced security assets under the Deep Blue Project to energise our blue economy. I believe it will work if consciously sustained.

“It is anticipated that this move will go a long way in fighting piracy and other maritime crimes in the Gulf of Guinea and our country’s entire territorial waters. Safety of vessels, cargoes and crews on our waters have direct impacts on our overall economy since the maritime sector is crucial for us in the areas of trade, investment, employment and recreation.

“While government is procuring platforms and training personnel for maritime security, I wish to advocate that a community -supported security approach will be more productive. Government should as a matter of policy involve youths of coastal communities in a kind of ‘Civilian Task Force’ to support the Navy and other security agencies in nipping our maritime insecurity in the bud.

“Further development of our maritime potential will be a bold step towards economic diversification for job creation, addressing insecurity and positioning our seaports for hub status in the West and Central African region.

“Most thriving businesses in our maritime domain are forced to spend a good part of their profits on the provision of security. Where such private arrangements are not made, oil, construction and other workers operating or transiting through waters face risk of kidnap, robbery or murder.

“Of a truth, our maritime security profile and reputation is not impressive and should be urgently and practically worked upon. Everyone agrees that a safer and more secure maritime sector will open a vista of economic improvements for us a country.”