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Thursday, June 13, 2024

Nigeria: Marine, Blue Economy pivotal to FG’s $1trn economic target ‘ Akutah

Nigeria’s NSC Executive Secretary/CEO, Barrister Pius Ukeyima Akutah, highlighted the Marine & Blue Economy Ministry’s role in President Bola Tinubu’s administration’s goal of a trillion-dollar economy by 2026.

Akutah highlighted port efficiency and automation as key to increasing vessel dwell time and cargo turnaround time.The president is aiming to rebuild the marine sector and bring the blue economy into it, requiring heavy investment from both government and private sectors.

The minister is developing a holistic blueprint to address challenges like dilapidated port infrastructure and business costs. The immediate plan is to focus on agency collaboration to restructure the port system, which cannot be achieved overnight.

The goal is to move the sector forward within four years.The Nigerian government is working on a comprehensive policy document to address infrastructure deficits, decay, and automation in port management.

The Minister of Marine and Blue Economy is developing a holistic blueprint to address port efficiency issues. The Council aims to implement an International Cargo Tracking Note (ICTN) by the end of the second quarter of 2024.

The government is working with stakeholders to determine the best date to achieve the ICTN by the second quarter of 2024, ensuring a holistic renewal of ports.

TICT has invested over $190 million in the Philippines’ maritime sector, but issues with the Tin-Can Island port’s rail line have led to importers using barges for cargo evacuation.

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