As part of a strategic move towards revitalizing the marine and blue economy, Minister of Marine and Blue Economy, Gboyega Oyetola, announced on Tuesday the ministry’s commitment to embracing Public-Private Partnership (PPP) models. Oyetola emphasized that this transformative initiative aims to propel the sector to new heights, fostering growth without hindering the progress of local players.
The Minister clarified that the adoption of PPP models is geared towards creating opportunities for local stakeholders to generate and extract enhanced value from the marine and blue economy. He highlighted specific avenues such as ship construction, maintenance, and repairs, where local players can actively contribute to the sector’s trajectory of success.
Oyetola underscored the importance of garnering perspectives, ideas, and relevant inputs from both public and private entities to ensure the success of this transformative strategy. The move aligns with the vision set by President Muhammadu Buhari, who has championed the opening up of Nigeria to focus on the Blue Economy Value Chain.
By encouraging collaboration between the public and private sectors, the Ministry aims to unlock untapped potential within the marine and blue economy. This inclusive approach seeks to create a conducive environment for innovation, economic development, and job creation, contributing to the overall growth of Nigeria’s economy.
As the Ministry of Marine and Blue Economy sets sail on this ambitious venture, stakeholders and industry players are keenly observing how the PPP models will unfold and impact the sector’s landscape. The success of this collaborative effort holds the potential to position Nigeria as a key player in the global blue economy arena while supporting the nation’s economic development goals.