Economy
SUSTAINING the Deep Blue Project will ensure the country diversifies its economy from oil, the Association of Nigeria Licensed Customs Agents (ANLCA) says on Friday.
The National President of ANLCA, Mr. Tony Nwabunike, made the assertion at the 8th Nigeria Annual Transport Lecture organized by Transport Day Newspaper in Lagos.
He presented a paper on “Blue Economy: Pathway for Nigeria’s Economic Diversification”.
The Deep Blue Project also called the Integrated National Security and Waterways Protection Infrastructure, is a maritime security project, aimed at tackling insecurity in Nigeria’s territorial waters and Exclusive Economic Zone, up to the Gulf of Guinea.
Nwabunike said that staying on the oil economy as the country’s only lifeline for sustainability would only lead to the country piling up debts and asking forgiveness where it was unable to pay.
He noted that a constantly borrowing nation becomes an economic slave to its creditors, adding that as the country’s population increased by the years, the monolithic oil economy had become very unsustainable.
“It is time to look the direction of our waters,” he said.
Nwabunike noted that as the second highest revenue earner, the Nigerian maritime industry is the “nation’s economic low hanging fruit capable of cushioning the temporary effect of inadequate oil revenue’’.
According to him, the country is rich in maritime resources and rich in oil which is transported by ships.
“But, in the recent past, we were tagged as the poverty capital of the world. This is ironically our reality, which we can change for the better.
“Maritime is critical to the historical, economic, political, and spiritual life of Nigerians, depending on where one comes from and the perspective from which one views our natural marine endowment.
“The 853km long Nigeria coastline runs through seven of the Southern States of the Federation, Lagos, Ondo, Delta, Bayelsa, Rivers, Akwa Ibom, and Cross Rivers bordering the Atlantic Ocean.
“These are aside other states that are linked by inland waters for copious socio-cultural and commercial activities.
“And these navigable inland water comprises of rivers, lakes, lagoons, creeks and those directly linking to the sea.
“But our maritime domain suffers the setback of general insecurity either due to lack of priority attention, inadequate security platforms like patrol boats, aircrafts and supporting technology gadgets and lesser number of personnel to implement or enforce adherence to security on the water.’’
Nwabunike noted that maritime piracy, sea robbery, oil theft, kidnapping on water, or through the water had been copiously recorded in the domain that should be contributing to the country’s economic well-being.
The ANLCA president noted that the Federal Government, through Nigerian Maritime Administration and Safety Agency, was rising to the occasion with planned deployment of advanced security assets.
I believe it will work if consciously sustained. This they tagged the ‘Deep Blue Project.’’
He said that it was anticipated that this move would go a long way in fighting piracy and other maritime crimes in the Gulf of Guinea and the country’s entire territorial waters.
According to him, the safety of vessels, cargoes, and crews on Nigeria’s waters has a direct impact on the overall economy.
“The maritime sector is critical for us in the areas of trade, investment, employment, and recreation.
“`While the government is procuring platforms and training personnel for maritime security, I wish to advocate that a community-supported security approach would be more productive.
“Government should as a matter of policy involve youths of coastal communities in a kind of Civilian Task Force to support the Navy and other security agencies in nipping our maritime insecurity in the bud.
“Further development of our maritime potentials will be a bold step toward economic diversification for job creation, addressing insecurity and positioning our ports for hub status in the West and Central African regions.
“A safer and more secure maritime sector will open a vista of economic improvements for us a country,” he said.
He pointed out that there was an array of untapped opportunities holding back not less than 30,000 immediate jobs if the maritime and inland waters are safe for legitimate business activities.
According to him, if properly interfaced with the oil sector, it will open opportunities in areas including import, export, fishing, tourism, transport, handling, dredging, and others abound.
“These have potential to give governments at all tiers more taxes and provide sustainable earnings that will go round than what we have in the oil sector presently,” he said.(NAN)
– May 21, 2021 @ 17:58 GMT
Tags: Sustaining Deep Blue Project will ensure diversification from oil – ANLCA
