An expert in Blue Economy, Dr. Yekini Salawu has said that Nigeria cannot afford to neglect the blue economy saying that reports from African Union estimates that the Blue Economy currently generates nearly US$300 billion for the continent, thereby creating 49 million jobs in the process.
He added that aside generation of huge revenue blue economy is capable of ensuring food security, livelihoods, and biodiversity.
Dr Salawu who spoke at book launch on building seaborne trade logistics maintained that important of blue economy to Nigeria cannot be overemphasized, stressing that, “Blue Economy is a relatively new concept that has emerged in recent years, amid a shifting world socio-economic order and developments in a changing climate”.
The blue economy he said, “it refers to the sustainable use of ocean resources for economic growth, job creation and improvement of the ocean ecosystem. The ocean is the single largest natural asset on earth.
“Today, it is more important than ever to use its resources in a manner that we give back to it as much as we take from it.
“The Blue Economy, including tourism, fisheries, marine renewable energy, and biotechnology, is forecast to grow at double the rate of the rest of the global economy by 2030.
‘Key to the Blue Economy is ocean health. One major pillar is the necessity of protecting — and restoring where needed — the existing ocean resource base that is already responsible for supplying billions of people with food and livelihoods.
“The Blue Economy also opens up opportunities in the form of new sustainable economic activity and growth. Sustainable ocean-related energy, for example, such as offshore wind and tidal energy, is one fast-growing area. But such energy, too, depends on the health of the marine ecosystem.
“Investments are being made into more sustainable modes of sea transport and infrastructure, such as ports, to support the Blue Economy, improving maritime connectivity on the whole.
“Only when the ocean is clean and at its best state, can communities and businesses all thrive”, he maintained.
