By: Edem Archibong, Calabar
The Cross River State Governnor, Senator Prince Bassey Edet Otu has revealed that Nigerian Maritime Administration And Safety Agency (NIMASA) have made a projection that the Blue Economy Potentials for the Country in 2026 can be well above but not less than $296 billion dollars next year if properly managed.
This revelations was made in Calabar during the launching of Cross River State emerging Blue Economy Programs designed to equip Cross Riverians with modern globally relevant competency skills required for the Marine Sector of the state economy supported by the World Bank.
He also expressed gratitude while highlighting the impressive contributions of the NIMASA on Cross River State Economy as well as making value addition to National prosperity in the sector of which they have generated #113.5 trillion to Nigeria’s GDP in 2025 third quarter.
Governnor Otu who was represented at the occasion by his Deputy Governnor, RT HON. Dr. Peter Odey explained that the figures so far given is an indicator that Cross River State “cannot afford to stand on the sidelines”, but it “must lead from the front”while describing the program as “a landmark opportunity for young people to acquire the advanced technical skills needed to unlock the vast Marine resources of the state” since we are”blessed with one of Nigeria’s longest Coastal lines”, we remains uniquely positioned to benefit from the new National emphasis on the Blue economy. This initiative reflects our Administration’s unyielding commitment to transforming our water-based assets into engines of economic growth, jobs creation and sustainable development”, he added.
On the proposed Bakassi Deep Seaport project which failed to see the lights of the previous administration, Dr. Odey feel bold to reaffirmed that their administration have resolved to actualize the project as they have already secured $3.5 billion dollars investment amount for the project but that they are awaiting President Tinubu’s approval for the formal ground breaking ceremony to take place.
He also used opportunity to inform the Bakassi Deep Seaport project Partners that “we are ready, we will continue to work closely with the World Bank and the Federal Ministry of Marine and Blue Economy to ensure our Water ways, Ports, Fisheries and logistics platforms deliver maximum economic impact”.
Speaking earlier, the Senior Special Adviser to President Bola Ahemd Tinubu on Marine and Blue Economy, Professor Busayo Fakinlede commended Cross River State for being consistent in giving support to National efforts geared towards developing a sustainable Marine and Blue economy have placed it as a leader known for its “rich biodiversity and Coastal heritage which have placed the state at the heart Nigeria’s Blue Economy ambitions”.
He further explained that this initiative aligns with President Tinubu’s priorities on Food Security, Youths empowerment, economic diversification and responsible utilization of Marine resources while describing Cross River State “as the fish basket of the Nation”, citing its outstanding fisheries output amongst Nigeria’s coastal States.
In the brief remarks by the World Bank Team Head, Morales Yolanda explained that developing the Blue Economy was very essential to unlocking the economic opportunities across Coastal regions and the nation at large.
She assured that the World Bank stands ready to collaborate with the Federal and State Governments, “we will mobilize funding, technical expertise and strategic partnerships to ensure the successes of this Programs”, she ecoed.
End.
