Experts are advocating for the introduction of sustainable practices to ensure the long-term health and productivity of Nigerias blue economy as the potential of the maritime sector is harnessed.
According to various experts who spoke at the sixth edition of the Taiwo Afolabi Annual Maritime (TAAM) Conference held at the University of Lagos, Nigeria needs to take seriously the issue of policies and stringent regulations that support environmental protection, economic efficiency, and social responsibility.
According to Dr Taiwo Afolabi, chairman, SIFAX Group, the industry needs to be strategic and decisive about sustainability as well as exploiting the range of business opportunities that the blue economy presents.
"There are diverse opportunities in the industry beyond the traditional shipping and port operations. The newly-created Ministry of Marine and Blue Economy has to expand its scope to provide policies and regulations that will guide investors' foray into areas like coastal tourism and renewable energies. This, however, must be done in a sustainable manner that will protect the ocean ecosystem and provide benefits for the coming generations."
Renowned maritime lawyer and keynote speaker, Dr. Emeka Akabogu, who Mr Victor Onyegbado represented, harped on the importance of achieving sustainable shipping as a nation, through ethical conduct, improved port operations and adequate legislation within the industry. According to him, it is imperative to achieve this system in order to build a maritime industry that is functional, providing resources that transcends generations.
