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Tinubu Urged To Embrace Blue Economy As Alternative To Crude Oil
Tinubu Urged To Embrace Blue Economy As Alternative To Crude Oil
Olatunbosun Oyintiloye, an APC chieftain in Osun State, has called on President Bola Tinubu to throw his weight behind the development of the blue economy as a viable alternative to crude oil for revenue generation. Speaking to journalists in Osogbo, Oyintiloye emphasized the significant potential of harnessing marine resources to redefine sustainable growth in the country’s Gross Domestic Product (GDP)……CONTINUE READING....KINDLY READ THE FULL STORY HERE▶
He highlighted projections by Adegboyega Oyetola, the Minister of Marine and Blue Economy, suggesting that the blue economy could potentially generate $20 billion annually and create two million jobs. Oyintiloye stressed that tapping into this sector could add substantial value to Nigeria’s economy, especially amid dwindling revenues from crude oil.
The APC chieftain also noted that experts estimate the untapped potential within the marine and blue economy sector to be worth a staggering $296 billion. He commended President Tinubu for establishing the Ministry of Marine and Blue Economy and underscored the importance of unlocking its vast potential to diversify the country’s revenue sources.
Oyintiloye outlined various benefits of investing in the marine and blue economy sector, including economic diversification, stimulation of growth, preservation of marine health, and creation of employment opportunities. He particularly emphasized the need to focus on fishing as a strategic area for investment, aiming to reduce capital flight and retain value locally.
Moreover, Oyintiloye advocated for the development of a robust maritime educational curriculum to align with technological advancements and industry trends. He applauded Oyetola for his efforts in tapping into the blue economic potentials and expressed optimism that Nigeria would soon reap the benefits of this sector.
In conclusion, Oyintiloye expressed confidence in the ongoing economic policies initiated by President Tinubu, asserting that they would ultimately lead to positive outcomes for Nigerians and foster all-round growth.
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