The collaboration is being touted as mutually beneficial to the economic growth of both nations.
by Blue Africa News
Nigeria’s marine and blue economy sector is set for a major boost, following a commitment by the Federal Government and the People’s Republic of China to advance its development.
On September 4, Adegboyega Oyetola, Nigeria’s minister of Marine and Blue Economy received Chinese Ambassador to Nigeria, Yu Dunhai, at the Ministry’s headquarters in Abuja, with the visit advancing the growing recognition of the West Africa nation’s marine and blue economy as a critical driver of sustainable growth.
Commenting on the long-standing bilateral relationship between Nigeria and China, the minister described it as mutually beneficial to the economic growth of both nations, conceding that his country has a lot to learn from China as far as harnessing marine and blue economy advancement is concerned.
“Our ministry is determined to create the right framework for investment and partnership, and we believe that Nigeria has a lot to learn from China’s marine and blue economy development model,” said the minister.
According to a World Economic Forum (WEF) report, China’s marine economic sectors such as coastal tourism, marine transportation, marine fisheries and seafood processing, marine chemical industry, offshore oil and gas industry, and marine engineering construction industry, are pivotal to the national economy, accounting for approximately 37.4% of gross ocean product and 2.9% of China’s Gross Domestic Product (GDP).
On the other hand, the Nigerian Maritime Administration and Safety Agency (NIMASA) figures indicate that the country’s marine and blue economy sector contributes 3–5% to Nigeria’s GDP, as the World Bank projects that with effective reforms, Nigeria’s blue economy could contribute up to 10–15% of GDP by 2030.
“The marine and blue economy sector is a frontier for wealth creation, job opportunities, and sustainable development if properly harnessed,” the minister added, calling for further strengthening of the bilateral relationship particularly in marine resource management and port development among other scopes.
The Federal Government, he noted, was seeking collaboration with China in tackling illegal, unreported, and unregulated (IUU) fishing, which undermines the nation’s economic and food security.
Ambassador Dunhai on his part noted that the visit was in furtherance of the strong partnership between China and Nigeria, signaling the Lekki Deep Seaport – constructed by China Harbour Engineering Company, as an example of growing Chinese-Nigerian collaboration.
“The Lekki Deep Seaport is Nigeria’s first deep seaport and one of the largest in West Africa capable of handling ultra-large container vessels and significantly boosting Nigeria’s trade volume,” he said.
“The port is expected to generate billions of dollars in revenue over its concession period, making it a vital contributor to Nigeria’s economic growth.”
In September 2024, Nigeria President Bola Tinubu and his Chinese counterpart Xi Jinping met in Beijing, where they agreed to build a high-level Nigeria-China community with a “shared future and a comprehensive developmental partnership.”
Oliver Ochieng, Blue Africa News