*As workshop on Africa’s Deep-Seabed Resources begins in Nigeria

By Joseph Erunke, ABUJA

THE Secretary General of the International Seabed Authority, ISA, Mr. Michael W. Lodge, has said effective management of the Blue Economy could contribute $1.5 trillion to the global economy.

This came as Nigeria is set to play host to experts who will converge on Abuja, for a workshop on the fourth sub-regional workshop of Africa’s Deep-Seabed Resources,ADSR project.

The event, according to the organisations,is taking place between October 5 and 7, 2022.

Lodge, speaking Monday during a pre-event press briefing on the need to support Africa’s Blue Economy, noted that a sustainable development of deep seabed resources located on Africa’s continental shelves and in the international seabed area could be a key driver for the development of Africa’s Blue Economy.

Quoting the United Nations statistics, he insisted that blue economy could also contribute up to $1.5 trillion to the global economy if effectively and sustainably managed.

The event, organised by the International Seabed Authority in collaboration with National Boundary Commission (NBC), Federal Ministry of Transportation, Nigerian Maritime Administration and Safety Agency (NIMASA), and other relevant MDAs, aim to support Africa’s blue economy strategy.

He said:””This is a huge opportunity for Africa and each African State. The oceans and seas surrounding the African Continent include the wealth of natural living and non-living marine resources. This inspired a growing interest in the sustainable development of the African blue economy.”

Speaking further,the ISA boss said::”Recent climate events around the world act as a pressing reminder that the world has no choice but to accelerate its transition toward a low-carbon economy. Examples of this include: drought and risks of famine in East Africa, Floods in Pakistan, Wildfires in Europe during the summer 2022.

“In order for the transition to be successful, consensus exists that new and more sustainable resources need to be found. This also requires to ensure that focus should be placed on securing resources with low impacts on the environment.”

He explained that that the main objectives are to strengthen capacity in order to promote the effective participation of developing States in deep sea exploration and to ensure that the benefits of marine science and technology are distributed equitably

“The workshop will be the opportunity to discuss very important topics such as the legal regime governing the exploitation of resources and preservation of the marine environment, the maritime delimitation of Nigeria and how to increase regional and international cooperation in support of the sustainable development of Africa’s Blue Economy,” he further explained.