Osun APC Leader Calls On Tinubu To Back Blue Economy Initiatives

Osun APC Leader Calls On Tinubu To Back Blue Economy Initiatives....KINDLY READ THE FULL STORY HERE▶

An Osun State All Progressives Congress stalwart, Olatunbosun Oyintiloye, has called upon President Bola Tinubu to extend significant support towards advancing the blue economy, positioning it as an alternative revenue source akin to crude oil………..CONTINUE READING

Expressing his plea to journalists in Osogbo, the Osun state capital, Oyintiloye emphasized the transformative potential of harnessing the marine and blue economy sector, asserting its capability to redefine sustainable economic growth within the National Gross Domestic Product.

Citing Minister of Marine and Blue Economy Gboyega Oyetola’s forecast, Oyintiloye highlighted projections suggesting that the blue economy could annually generate $20 billion and foster the creation of two million jobs, thus substantially enhancing the nation’s economic landscape. Additionally, experts have estimated the untapped potential within this sector to be valued at an impressive $296 billion.

Oyintiloye commended the establishment of the Ministry of Marine and Blue Economy, affirming its pivotal role in diversifying revenue streams away from overreliance on crude oil. He underscored the imperative to unlock the sector’s potential to invigorate the economy.

He emphasized the multifaceted benefits of investing in the marine and blue economy sector, emphasizing its capacity to stimulate economic growth, enhance marine health, and fortify communities against climate change impacts. Oyintiloye identified fishing as a particularly promising area for investment, advocating for the bolstering of Nigerian fishing trawlers to curb capital flight and retain value locally.

While commending Oyetola’s efforts in tapping into the blue economic potential, Oyintiloye expressed optimism that Nigeria would soon reap the rewards of such endeavors. He stressed the need to establish a robust economic and financial system geared towards directing resources into ocean-related activities, spanning maritime shipping, fishing, aquaculture, coastal tourism, renewable energy, and more.

Oyintiloye concluded by affirming that Nigeria’s economy would experience positive impacts through strategic investment in ocean-related activities. He called for concerted efforts from both the government and individuals to recognize and seize the vast investment opportunities inherent in the blue economy sector

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