For African Nations to develop, President Bola Ahmed Tinubu, has advised African leaders to prioritize the Blue Economy.

Speaking on Monday, November 6 2023, at the 43rd Annual Council of the Port Management Association of West and Central Africa (PMAWCA) conference, Tinubu emphasized the vital role that the Blue Economy plays in the overall prosperity of African countries, noting that the industry has enormous potential for the continent as a whole.

Africa’s blue economy offers the continent unrealized prospects for growth and prosperity, according to the President, who was represented by Minister of Marine and Blue Economy Adegboyega Oyetola.

“We must recognize the maritime industry as a key force behind our countries’ sustainable development,” he declared. 

The President also addressed establishing the Ministry of Marine and Blue Economy, highlighting Nigeria’s government’s commitment to maximizing the potential of the Blue Economy while highlighting the interconnectedness of African nations through their maritime assets.

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He said cooperation is necessary to address the region’s common issues and shared destiny, noting that the waterways provide a natural source of connectivity that transcends state boundaries.

In addition, the President emphasized the importance of technology development in the field and the need for automation to keep ports competitive in the world’s maritime economy.

To streamline port operations, he emphasized the significance of the Port Community System, which acts as a prelude to the National Single Window’s deployment.

In his earlier remarks, Mohammed Bello Koko, the Managing Director/CEO of the Nigerian Ports Authority, echoed President Tinubu’s appeal for regional collaboration in the marine industry.

He acknowledged that the African Continental Free Trade Area (AfCFTA) offers significant prospects. Still, he also urged African leaders to cooperate to remove trade obstacles and make use of these opportunities for the benefit of their respective countries’ economies as a whole.

“There are many opportunities provided by the African Continental Free Trade Area (AfCFTA). To ensure the development of our national economies, we must cooperate to remove trade barriers and take advantage of these opportunities, Mr. Koko said.

In addition to expressing the Nigerian Ports Authority’s dedication to collaboration and support for the policies and next actions that would be deliberated during the conference, he commended the PMAWCA for its role in fostering port cooperation.

He continued by saying that a critical conversation on how African countries may realize the full potential of their maritime resources has been made possible by the 43rd PMAWCA meeting, which focused on the Blue Economy and the value of regional cooperation.

With the common objective of improving trade facilitation and promoting economic progress, he asked international observers and delegates from West and Central African nations to share ideas and thoughts.