Fubara urges private sector to develop Nigeria’s blue economy

n n

Rivers State Governor, Siminialayi Fubara, has called on the organised private sector to make haste in harnessing the abundant blue economy potentials in the country.

n

Fubara also emphasised partnership between the government and the private sector to unlock the vast economic potentials of Rivers State and Nigeria at large.

n

The governor stated this at the Annual General Meeting/Conference of the Nigerian Association of Chambers of Commerce, Industries, Mines and Agriculture held in Port Harcourt on Thursday night.

n

The conference was ‘Gulf of Guinea and the Blue Economy: Pathways to Trade, Investment and Security Towards a $1 Trillion Economy’.

n

Represented by his deputy, Prof. Ngozi Odu, the governor noted that if the organised private do not act fast to invest in the country’s blue economy, foreigners would take over the sector.

n

Fubara said the conference, which seeks to chart a pathway for a 1Trillion United States Dollars investment in the Gulf of Guinea, was timely as the sector has the capacity to generate greater revenue for the country even above oil and gas.

n

He observed that the absence of private sector players in the industry was giving room for foreigners to enter the country’s territorial waters especially for fishing activities without remitting anything to the government.

n

He stated, “It is important to say that nature does not allow vacuum. If we do not capitalize on and utilise our blue economy, other nations will utilize it for us. So we must wake up and be the watchdogs and make sure that what is ours remains ours.

n

“Trawlers come to our coast to scoop up sea foods and go away. They don’t pay tax. They don’t pay anything. So if we keep keeping our fingers down, then they will keep doing that.”

n

Fubara reiterated his commitment to creating an enabling environment for private sector participation in job creation, investments and development, calling for partnership with the private sector in unlocking the vast economic and investment potentials in the state.

n

“Our administration remains committed to creating an enabling environment for private sector participation, investment promotion, job creation, and sustainable development.

n

“We believe that government and the private sector must work together to unlock the vast economic potentials of our state and our nation as no nation achieves its full potential without an intentional involvement of the organized private sector,” Fubara added.

n

Earlier in his speech, President of NACCIMA, Engr. Jani Ibrahim commended the Rivers state government for putting investment friendly policies in place and creating partnership with the organised private sector in the state.

n

Ibrahim acknowledged the state’s investments in critical infrastructure such as strategic road networks to aid transportation, urban renewal programmes and businesses.

n

“We commend the administration of His Excellency for his commitment to creating an enabling environment for business growth, investment attraction, and economic development through strategic investments in road and transport infrastructure to facilitate trade and economic activity, urban renewal, and critical infrastructure projects that continue to enhance the state’s investment climate and competitiveness,” he stated.

n

The NACCIMA president said further noted the state’s sustained support for private sector engagement and investment promotion initiatives aimed at driving enterprise development and job creation.

n

Ibrahim continued, “These efforts are further strengthening Rivers State’s reputation as one of Nigeria’s foremost commerce and investment destinations and a critical gateway for trade and industry within the Niger Delta and beyond.”

n

While making reference on the conference theme, Ibrahim said the association is hopeful that Rivers State will provide the home for Nigeria’s Blue Economy.

n

Earlier, President of the Port Harcourt Chamber of Commerce Industries Mines and Agriculture Dr Chinyere Nwoga said the hosting of the conference is an indication that the state is safe and ready for businesses and investors.

n

While commending the NACCIMA leadership for according the state the hosting right after 66 years of its formation, Nwoga said it was a recognition of the enormous economic potentials, resilience, and strategic relevance of Rivers State within Nigeria and the Gulf of Guinea region.

n n