The Minister for Marine and Blue Economy, Adegboyega Oyetola, has harped on the importance of public-private partnerships (PPPs) to develop more deep-sea ports in the country.
He made this known on Thursday at the 2024 Bussinessday Maritime Conference held at Oriental Hotel, Lagos.
He said PPP has helped in advancing port modernization, dredging activities, and the deployment of cutting-edge maritime technology.
He explained that there are further plans to advance the sector into the top ranks of the Presidential Enabling Business Environment Council (PEBEC).
Oyetola said under his leadership, the Ministry has prioritised strategic reforms to enhance operational efficiency and attract investments which include the implementation of the National Single Window initiative and a port community system to automate port processes.
He emphasised that the measures were geared towards improving Nigeria’s ease of doing business ranking and fostering a conducive environment for trade and investment.
Speaking on the Ministry’s achievements, Oyetola said that there has been significant progress in revenue generation driven by innovative strategies to block revenue leakages and explore new sources within the Marine and Blue Economy sector.
He underscored ongoing efforts to upgrade infrastructure through the development of inland dry ports and modernization projects at key ports across the country.
Oyetola also extended his appreciation to BusinessDay Media Limited for hosting the conference, which he said has “served as a pivotal platform for stakeholders to deliberate on critical issues affecting the maritime industry, including policy formulation, infrastructure development, and sustainable resource management”.
The Minister noted the importance of collaborative efforts in achieving excellence within the sector and expressed optimism that the insights gained from the conference would drive positive transformations and propel Nigeria towards greater economic prosperity through the harnessing of its vast maritime resources.
He reaffirmed his commitment to developing a national policy framework for the Marine and Blue Economy by the end of 2024 and urged all stakeholders to continue working together towards realising the sector’s full potential.