Chairman, Lagos Water Regatta, Otunba Olusegun Jawando yesterday urged government and other stakeholders to invest in marine business, saying it has a lot of profitable potentials.
Jawando disclosed this to the News Agency of Nigeria (NAN) in Lagos while reviewing the 2015 Lagos Water Regatta Festival held on April 19 at Ikoyi.
The chairman said that there were lots of potentials that stakeholders, individuals and government could tap from in marine business such as tourism.
According to Jawando, the water regatta could be used as an avenue to showcase and exhibit potentials on waterways, an avenue for investors and government to make huge revenue.
“Water regatta festival is an avenue to showcase, exhibit and display the potential on the waterways.
“There are lots of potential that government, stakeholders and investors can tap from on waterways to boost their revenue.
“Among the potentials on waterways are transportation, recreation, fishing, aquatic, marine and swimming.
“With all these potentials, government, stakeholders and investors could earns millions of naira,” Jawando said.
According to him, water regatta festival represents the cultural heritage of riverside people of the state and is usually presented in colourful events, which bring together large fleets of decorated canoes.
He added that the festival often features parade of boats and yatch, including large fishing boats, ferries and other marine vessels.
“All the features during the festivals are beautifully adorned to depict the social-cultural, traditional folklores and occupational of the people of Lagos State.
“In addition to the decorated floats, there are also display of the unique nature of Lagos State as the melting pot of Nigeria.
“It is a feature that has created a colorful and radiant mosaic reflected in our hospitality, creativity and innovation, commerce and optimistic nature,” he said.
According to him, the Lagos Water Regatta has been gaining international and national recognition as the event now has participants from neighbouring West African countries.
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