The Federal Government has described the newly created Ministry of Marine and Blue Economy has the gateway to resolving Nigeria’s unemployment problem.

This was disclosed by the Minister, Mr Adegboyega Oyetola in a keynote address delivered at the Institute for Entrepreneurship and Development Studies (IFEDS), Obafemi Awolowo University, OAU, Ile-Ife Osun State, an event themed “Advancing Entrepreneurship Education and Practice for Sustainable Development in Africa”.

Represented by Managing Director Port Authority, Dr Abubakar Dantsoho, he stressed the need for collaboration between government, tertiary institutions and the private sector to unlock the great potentials in the Marine sector in a bid to develop the nation’s blue economy.

According to Oyetola, the marine and blue economy sector represents a “blue gold mine” for Nigeria, rich with potential for sustainable economic growth.

“The blue economy embodies areas that all hold considerable potential for economic growth, employment creation and poverty reduction. An excellent global example worth mentioning is Norway, renowned for its significant advances in aquaculture, offshore oil drilling, wind energy, and marine biotechnology – all of which have been pivotal to its economic development.

“By harnessing innovation, embracing sustainability, and fostering collaboration between government, academia, and the private sector, we can create a thriving marine and blue economy that contributes significantly to Nigeria’s sustainable development.

“Thus, the blue economy sector promises a wealth of benefits for the growing youth population of our beloved nation, offering scope for innovation, sustainable growth and fruitful entrepreneurial paths.

“The economic prospects offered by our blue economy are substantial and remarkable”.
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Meanwhile, the Vice Chancellor of OAU, Professor Simeon Bamire, while advocating support from the ministry of marine and blue economy, noted that collaboration between them will enhance more robust development.