President Buhari Inaugurates Deep Blue Economy Project By Chioma Martins

The Nigerian Maritime Administration and Safety Agency (NIMASA) has aligned with the Federal Government in ensuring the safety, security and preservation of the nation’s maritime industry.

NIMASA disclosed its assistance to the government, as President Muhammadu Buhari commissioned the Deep Blue Project on Thursday, June 8, 2021, in Lagos.
As a major contributor to national development, the Maritime industry has helped to boost the nation’s revenue generation after oil and gas and the stability has to be sustained.
It is indeed a landmark achievement by the Director-General of NIMASA, Bashir Jamoh, in developing strategies to confront the many challenges of Maritime insecurity alongside the implementation of assets of the Deep Blue Project.
The collaboration of NIMASA with the Nigerian Navy, the Nigerian Army, the Nigerian Police, the office of the National Security Adviser and the Department of state service is greatly commendable as it transforms to deal with the common enemy.
Nigeria becoming the Maritime Hub in Africa will not be far fetched, if only this project is adequately carried out, leaving no stones unturned.
As regarding the above view, MAJAN at a Special Congress in Lagos came up with key endorsements for the success of the Deep Blue Project.
The following are the observations and recommendations:
That this meritorious project focuses on handling the incidents of piracy, sea robbery and other Maritime crimes is highly appreciated;
That intensive investment in capacity-building, infrastructure, shipbuilding and seafarers development will help Nigeria to enjoy the best of the produce from the sea;
That the emergence of the Deep Blue Project will lead to massive job creation in the country. This will add to our Nation’s Gross Domestic Product and increase Consolidated Revenue to fund the national budget;
That a policy structure is needed to enhance the effectiveness and sustainability of the Deep Blue Project in case of any future change in administration, and
That this project must be led by a conglomerate of experts in the Maritime field for the realisation of the objectives.
Others are that major industry stakeholders must be carried along by the promoters of the Deep Blue Project to ensure their full participation, commitment and investment;
That to enable domestic Maritime operators leverage on the initiative, the Maritime Journalists Association of Nigeria (MAJAN) calls on the government to disburse the Cabotage Vessel Financing Fund (CVFF) urgently;
That there will be diversification of the nation’s economy with foreign exchange earnings due to this project; and
That countries like Egypt, the Philippines, Denmark have greatly developed into Maritime superpowers through the Deep Blue Economy and so Nigeria should not be an exception. We can exceed our oil revenue if proper attention is given to the Maritime sector.