Stakeholders Set Agenda for Blue Economy Ministry, At Taiwo Afolabi Conference

Stakeholders Set Agenda for Blue Economy Ministry At Taiwo Afolabi Conference

Stakeholders in the Maritime industry in Nigeria recently converged at the main bowel of the J.F.Ade Ajayi Hall of the University of Lagos, Akoka for the 6th edition of the Taiwo Afolabi Annual Maritime Conference TAAM, organised by the Maritime Forum of the University and sponsored by the SIFAX Group. The theme of the event is: ‘A Blueprint for Sustainable Shipping:

The Significance of the Ministry of Maritime and Blue Economy’.

Principal Partner, Akabogu Law, a maritime law firm, Dr. Emeka Akabogu, who delivered the Keynote presentation entitled: ‘A Blueprint for Sustainable Shipping: The Significance of the Ministry of Maritime and Blue Economy’, noted that the theme of this year’s conference is not only timely but also crucial, especially as Nigeria navigates the evolving dynamics of the global, regional and sub-regional maritime industry.

He also observed that sustainable shipping remains the backbone of a resilient, thriving economy, as it encompasses practices that ensure that the long-term health of the oceans while meeting the economic and logistical demands of global trade.

These practices consist of holistic approach to shipping that ensures the activities involved do not compromise the ability of future generations to meet their needs and the needs of their era.

This also involves ethical conduct that speaks to the ethical standards set for the industry stakeholders that are aimed at balancing economic growth, environmental stewardship and social responsibility, which in simple terms entails optimal exploitation or execution of shipping and allied activities in a way that the coming generations would have a shipping sector that they themselves can further exploit (Legacy).

He said that it entails a self-evolving system of laws, regulations and practices that are not only relevant per time but also intrinsically sustainable (self-replicating).

Akabuogu categorised activities in Nigeria’s shipping industry into five major categories: ship operations, which involve navigation, cargo handling, on-board vessel maintenance, safety and security, and port operations, which involve cargo and passenger handling, Customs clearance and bunkering.

Others include allied services such as logistics, freight forwarding, and maritime insurance. Maritime law addresses legal issues related shipping contracts, accidents and disputes while shipbuilding and repair cover the construction of ships, designs, material procurement, fabrication and sub-assemblies and units, which include surface preparation, painting, outfitting, testing and delivery.

He listed the last layer of shipping activities which come under regulation, including the International Maritime Organization (IMO), other Multilateral conventions and regulations at the global level and other local regulations that come under the NIMASA, NPA, NSC and NIWA Acts.

For the Blue Economy, he divided the industry into two segments: the traditional Blue Economy, which covers ships, ports and services, and the non-traditional Blue economy, which covers aquaculture, tourism, real estate, telecommunications, energy, natural resources, and other non-ship transport.

In closing, he noted that the Ministry of Marine and Blue Economy would need to evolve a clear-cut legal framework as well as a clear-cut supervisory architecture, arguing that a multiple and cross-cutting legal and supervisory framework might bring about the risk of complicated and sub-optimal policy formulation.