Oyetola targets Top 3 PEBEC Ranking, Lauds BusinessDay Media at Maritime Conference 2024

Minister of Marine and Blue Economy Targets Top 3 PEBEC Ranking, Lauds BusinessDay Media at Maritime Conference 

In a keynote speech at the BusinessDay Maritime Conference 2024 at the Oriental Hotel in Lagos, Honourable Minister of Marine and Blue Economy, His Excellency Adegboyega Oyetola, announced ambitious plans to elevate Nigeria’s maritime sector to global standards. Minister Oyetola emphasized the sector’s critical role in economic diversification and sustainable development, detailing initiatives aimed at propelling Nigeria into the top ranks of the Presidential Enabling Business Environment Council (PEBEC).

The Ministry, under Oyetola’s leadership, has prioritized strategic reforms to enhance operational efficiency and attract investments. These include the implementation of the National Single Window initiative and a Port Community System to automate port processes, thereby improving Nigeria’s ease of doing business ranking.

Minister Oyetola highlighted significant progress in revenue generation through innovative strategies to block revenue leakages and explore new sources within the Marine and Blue Economy sector. Ongoing efforts to upgrade infrastructure, such as developing inland dry ports and modernizing key ports, were also underscored.

The Minister emphasized the importance of public-private partnerships (PPPs) in advancing port modernization, dredging activities, and deploying advanced maritime technologies. Plans for developing additional deep-sea ports on a PPP basis aim to further bolster Nigeria’s maritime capabilities.

Minister Oyetola expressed his appreciation to BusinessDay Media Limited for hosting the Maritime Conference 2024, recognizing the event as a crucial platform for stakeholders to discuss issues impacting the maritime industry, including policy formulation, infrastructure development, and sustainable resource management.

Acknowledging participants’ contributions, Minister Oyetola stressed the importance of collaborative efforts in achieving excellence within the sector. He expressed optimism that insights from the conference would drive positive transformations and propel Nigeria towards greater economic prosperity through its maritime resources.

In closing, the Minister reaffirmed his commitment to developing a dynamic national policy framework for the Marine and Blue Economy by the end of 2024, urging stakeholders to continue working together for sustainable growth and inclusive development across coastal communities.