By Davies Iheamnachor

PORT HARCOURT: An Expert in the Blue Economy has stated that for the country to be able to sustain the new sector, Blue Economy, that it must give attention to innovation and research.

The expert said the Nigeria  Exclusive Economic Zone, EEZ, extends up to 200 nautical miles from its coastline into the Gulf of Guinea, adding that the zone grants Nigeria special rights over exploration and use of Marine resources.

Mr. Soji Adeleye, the Chief Executive Officer of Alfe City Institution, spoke during a 3-Day Ecosystem Conference in Port Harcourt on Sustainable Nigerian Blue Economy sponsored by the Federal Ministry of Marine and Blue Economy.

Adeleye said the country holds potentials in blue economy, but that the right investments must be made to achieve the benefits of the new economy.

He said: “Establishing world class Maritime research and development Institution would be crucial to the long term goal of a sustainable Nigerian Blue Economy. 

“It is important for the maritime industry as they help to determine the operational limits and safety of floating structures such as ships and platforms and support the development of innovative concepts for blue growth. 

“The maritime industry has served as the catalyst for various forms of technological advancement and development. The success of the maritime industry hinges on innovative solutions as well as the development of new technologies which would facilitate optimal function of shipping networks.”

“This informed the bringing of all elements of the Blue Economy together for this ecosystem conference to drive the policy formulation and legislation. We believe a potential construction of ten new Ports, Port Cities as part of this broad engineering – in effect ten new Lagoses would accelerate coastal development, create new centers of economic growth, create avenue for new transportation infrastructural development, provide millions of employment opportunities.”

Adeleye noted that the sector has the potential to help shape the nation’s future economic sphere, adding that it can only thrive if it is focused of research.

He said: “A Nigerian Blue Economy Commission would be a regenerative agency with a power to help shape the Nigerian future economic landscape – articulate and supervise the technology, the finance that would be needed to build a new integrated economy. 

“A Sustainable Nigerian Blue Economy can only thrive if run by a twenty first century autonomous entity that could be proactive, responsive – a octopus like Institution that is research driven, financial and technology savvy that can advocate, proffer solutions, supervise and monitor development in the ocean, along the coast and all that derived from there.