The Minister of Marine and Blue Economy, Adegboyega Oyetola, has said that the Federal Government is considering setting up a national shipping line through a strategic public-private partnership (PPP) arrangement.
Oyetola said the move was aimed at capturing a substantial share of the estimated $10 billion annual ship charter market within the country.
He said this at the 2023 Abuja Investment Summit and Expo.
The Minister, who was represented at the event by an aide named Busayo Fakinlede, also unveiled the ministry’s strategic plans to redefine the marine and blue economy sector for sustainable national socioeconomic growth and development.
He said his ministry was working toward creating two million jobs on a yearly basis through strategic development within the sector.
“Recognising this immense opportunity, we are committed to driving forward with policies and initiatives that aim to unlock this latent value. Our ambitious goal is to generate up to $20 billion annually and create about two million jobs on an annual basis through strategic development within this sector.
“We aspire for the marine and blue economy to become a substantial contributor to our nation’s economy, with a target to at least match the GDP contribution of the oil and gas sector within the next four years,” he said.
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