Oyetola Partners UNIDO to Develop Marine and Blue Economy Industry Policy
By Kabir Akintayo
The Minister of Marine and Blue Economy, Adegboyega Oyetola, has said that the ministry will partner with the United Nations Industrial Development Organisation (UNIDO) to develop the industry policy that will help in achieving sustainable growth in the sector.
Oyetola, while receiving a UNIDO delegation, in his office in Abuja on Tuesday, said part of President Bola Ahmed Tinubu’s agenda is diversification of the economy to reduce the over-reliance on oil and gas.
He added that, already, the Marine and Blue Economy sector is working on how to strengthen fishery and other areas of the country’s comparative advantage as part of measures to achieve self-sufficiency in food production.
“I’m happy that UNIDO is ready to partner with us to develop the industry policy, not only for our country, but for the global Marine and Blue Economy.
“Areas of collaboration include creating value chain, renewable energy as part of blue economy, research and development, technology assistance and a lot of things that will enable us realise the objectives of setting up this Ministry,” Oyetola said.
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The Minister added that he will not advise government to invest in a business but rather create an enabling environment for businesses to thrive.
“It is only our country as a member of Organisation of Petroleum Exporting Countries (OPEC) that still rely on getting foreign vessels to carry our crude, and that has happened enough. We are supposed to be selling our products on the basis of Cost Insurance and Freight (CIF) but what we are doing is Free on Board (FOB).
“We are losing so much in terms of trade, so this is the time to go back to having our own shipping line but not on the basis of government acquiring 100% of ownership but a question of partnership, by allowing people who know the business to drive it through Public Private Partnerships (PPP),” Oyetola said.
Meanwhile, leader of the UNIDO, delegation, Ambassador Jean Bakole, in his presentation, congratulated Oyetola on his new appointment as the Minister of Marine and Blue Economy which he said is very crucial for the country’s economic growth.
Bakole, while seeking partnership with the Ministry, said UNIDO has played a significant role in ensuring Africa focuses more on production rather than consumption.
“We are excited to see what we can do and see how we can help to make the sector work, how to improve a number of strategies to make the ministry a very important one that will be supporting the economy,” Bakole said.
