Following the successful implementation of the African Continental Free Trade Area, AfCFTA agreement under the Guided Trade Initiative, GTI, by the federal government, the Minister of Marine and Blue Economy, Mr. Gboyega Oyetola has said that the ministry is at the threshold of unlocking Nigeria’s Blue Economy potentials even as he said that opportunities offered by AfCFTA are exciting.
The Minister who made this assertion in his remarks at Nigeria’s inaugural shipment under the Guided Trade Initiative, GTI/AfCFTA Framework ribbon cutting ceremony held in Lagos recently, posited that the combination of the blue economy potential and the opportunities offered by AfCFTA posed business expectations for African development and economic transformation.
According to the Minister, there’s a compelling need for Nigeria to latch on this momentous opportunity to proffer prosperous and resilient future for Africa where the blue economy and AfCFTA combined to provide inclusive, sustainable and equitable development across the continent, creating a brighter future for generations to come.
He observed that by promoting inter-African trade through the removal of national barriers, doors of opportunities were opened to businesses to reach continental market thus fostering industrialization, job creation and economic growth. “This underscores the need for investment in core infrastructure and improvement in our decisional capacities for management and administration”, he added.
He continued, “This is the rationale for the current thrust of the ministries and agencies’ drive on port modernization, investment in physical facilities must be complemented with process and process system improvement.
“We have demonstrated our commitment to repositioning the port ecosystem for greater efficiency via various government initiatives and interventions. These interventions are yielding positive results as affirmed by the Presidential Enabling Business Environment Council, PEBEC, the top performance rating of both the ministry and its agencies – NPA and NIMASA at the recently concluded 120 days regulatory reform accelerator is indeed, a heartwarming indication of this commitment.
“To support the successful implementation of AfCFTA, the Federal Ministry of Marine and Blue Economy has taken bold and deciding step to significantly enhance the efficiency and competencies of the Nigerian Ports, the licensing of the export processing terminals will greatly increase the export of Nigerian commodities and will simplify the shipment of goods under the GTI/AfCFTA . Our pursuit of the establishment of more inland dry port is another initiative to bring shipping closer to the people and facilitate trade.
“We shall continue to pursue the boundaries of innovation and excellence driven by unwavering commitment to progress and unrelenting passion for shaping the brighter future for the Marine and Blue Economy Sector through various initiative such as regional integration and collaboration to drive maritime security and safety, continued partnership with the private sector and players to drive efficiency and innovation, investment in port ICT to improve procedures, control and turnaround time.
“As we set out on this transformative journey of guided trade under the AfCFTA, I must emphasize the need to embrace the core principles of collaboration, innovation and sustainability. By working in concert, we can unlock the full potential of shipping and maritime transportation to drive economic growth and build a prosperous future for our continent.
“Leveraging its rich maritime heritage and strategic location, Nigeria is poised to play a leading role in the success of AfCFTA and capitalize on the vast opportunities for increased trade and investment that it represents.”
He, however, assured the business entities that owned the consignments billed to be shipped to five African countries at the ceremony of the commitment of the ministry and its agencies to give them the needed encouragement while wishing them more success and greater export.
Photo: Mr. Gboyega Oyetola, Nigeria’s Minister of Marine and Blue Economy.
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