July 30, 2019

Maritime economy vital to economic development — Peterside

Dakuku Peterside

By Gideon Nnaemezie

THE Director-General of the Nigerian Maritime Administration and Safety Agency, NIMASA, Dr Dakuku Peterside, has pointed at the diverse opportunities that are open in Nigeria for economic transformation and development through effective and adequate exploitation of the marine economy.

Peterside Dakuku

Peterside who was speaking at the African Day of Oceans and Seas, weekend, in Lagos, also pointed that countries, such as China and U.S.A., have effectively exploited their ocean economy and were currently reaping the dividends. According to him, this has brought about an improvement in the Gross Domestic Products, GDP, and the employment rates of those countries.

He noted that over 90 per cent of imports and exports in Africa were controlled by seas and oceans.

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He also stated that as a result of the increased growth in population and urbanization, the nation must sustain the population through wealth creation from the various blessings of the marine biodiversity.

He said that China’s marine economy contributed $962 billion or 10 per cent to the GDP in 2014 employing about nine million people.

He also said the U.S marine economy was valued at $258 billion in 2010 or 1.8 per cent of the national GDP.