Friday, 14 April 2023

Shipowners Ready, Responsible To Take Proper Utilisation of Cabotage Fund - SOAN President

     Mkgeorge Onyung, President, SOAN

Shipowners Ready, Responsible To Take  Proper Utilisation of Cabotage Fund - SOAN President

Blue Economy not a child's play but serves as a blue print for the incoming government

By: Bisi Akingbade

The President of the Shipowners Association of Nigeria, SOAN, Dr. Mkgeorge Onyung has assured of members proper utilisation of the Cabotage Vessel Financing Fund, CVFF, when disbursed by the Nigerian Maritime Administration and Safety Agency, NIMASA.

Onyung gave the assurance while speaking at the Centre for Financial Journalism, the Bullion Lecture, held in Lagos, Civic Centre, Victoria Island.

The theme of the lecture was: “Banking on Blue Economy for Nigeria’s Economic Development.”

He said the members of SOAN are serious minded people in the business of shipping.

“We are not taking it as a grant, but a proper loan.

“The point is, we from SOAN, are a group of genuine ship owners. There is no member of our association that does not have a ship.

He said “Our members are already working with International Oil Companies and we adhere to international standards and rules. We are ready and responsible to take this facility.

“When one ship berths in our water, you will see that clearing agents and several others will be part of the business,” 

He appreciated the Federal Ministry of Transportation and NIMASA Director-General, Dr Bashir Jamoh, for the CVFF.
On the issue of blue economy.à

“Just that the United Nations drew attention to it because of the increasing poverty that was going on across the world.

“When God created the oceans, he put 700,000 species inside the water. The number of creatures in the ocean is big enough to feed us, we are just 7.7 billion. God buried all the treasure in the ocean.

“Today, we have just found a cure for sea blindness, Jamoh just told us that sea blindness is a disease that is inflicting the maritime industry and the solution to that is maritime knowledge which he has impacted on us.

“Telling us to learn more about the ocean so that we can benefit from it and we need to tap into the benefits of the ocean,” he said.

He noted that another part of blue economy which had to do with ferries was that the need to have ships that could take 450 passengers at ago to boost water transportation.

“For us to sustain the tourism and ferry transportation and make Lagos a sea transport city, we must look at the future.

“We are talking about sustainability of the blue economy, we have to be deliberate about this, so in building ports we need to ensure that free entrance and exit of ships,” he said.
.       Dr. Bashir Jamoh, DG, NIMASA
while delivering his lecture, the Director General, Nigerian Maritime Administration and Safety Agency, NIMASA, Dr. Bashir Jamoh stated that  while the country await a blue economy, a cohesive national policy to fully kick into gear, the country must for a starter become blue ambassadors, advocate for it.

“There is the need for total rethink of our waters, from a ceremonial to a commercial view, events such as Argungu Fishing Festival and others must be redesigned and repackaged from the standpoint of the blue economy.

“We must intentionally work to banish sea blindness amongst Nigerians, ensure shipyard expansion for shipbuilding and others,” he said.

He noted that the worth of the world’s Blue Economy at $24 trillion with Nigeria being the 7th largest in ocean resources potentials ahead of Brazil.

"Blue Economy is valued at $2.5 trillion per annum; 90 per cent of global trade volume is seaborne; 350 million jobs worldwide linked to fisheries; 34 per cent offshore crude production by aquaculture is the fastest growing food sector, providing 50 per cent of fish for humanity”.

“Nigeria is blessed with 850 kilometres (km) of coastline, 8,573 km of inland waterways, 200 Exclusive Economic Zone, twelve nautical miles territorial waters and six port complexies of Apapa, Tin Can, Onne, Port Harcourt, Warri and Calabar.

“In addition, Nigeria has 21 oil terminals and more than 10 jetties and 200 million production output. Twenty eight out of 36 states are accessible by water and linked to five neighbouring countries with 10,000 km of waterways that is navigable year-round”, he stated.


Dr. Jamoh said that NIMASA was driving Nigeria blue economy through the disbursement of the $720 million CVFF, deployment of modulator floating dock, capacity building of seafarers, wreck removal, underwater marine cable regulation and management and others.

Jamoh further said the blue economy is not a child's play but its serves as a blue print for the incoming government.
.    Mrs. Jean Chiazor Anishere, SAN

In her contribution as Chairman of the Bullion lecture 2023, Mrs. Jean Chiazo-Anishere,  said the country successfully bank on the blue economy to drive economic growth.

“Nigeria is blessed with vast coastline and abundant marine resources that can be harnessed for economic growth and development.

“It is just not for us to tap on the ocean resources, we need to ensure that it is sustained otherwise, we will not have anything to tap from.

“The sustainability of the blue economy is very key. It represents a significant opportunity for Nigerians to diversify it’s economy and create other ways for job creation and revenue generation by investing in things such as fisheries, aquaculture, maritime transport tourism and others.

“To fully unlock all the potential of the blue economy, it’s essential that we adopt the strategic approach,”.
.    Mr. Femi Adesina, Special Adviser on            Media and Publicity of Federal          Republic of Nigeria

The Special Adviser on Media and Publicity to the President of the Federal Republic of Nigeria, Mr. Femi Adesina, stated that the  Centre For Financial Journalism was born in his presence and he encouraged the President of the Centre, Mr. Ray Echebiri for the idea of CFJ.

Adesina affirmed that in the next 44 days, he will go back to media and agriculture.

"Yes I will back in the media. 

"I also have interest in agric. 

"You know when you start a farm, its needs a lots of supervision. So I will like to start a farm and also be in the media".