The World Bank has expressed its desire to collaborate with the Federal Ministry of Marine and Blue Economy based on the strategic creation of the ministry by President Bola Tinubu, saying that it was a clear indication of the government’s commitment to fostering the growth of the maritime sector.

Leading a delegation on a courtesy visit to the Minister of Marine and Blue Economy, Adegboyega Oyetola yesterday, the head of the World Bank team, Ms. Lia Sieghart, also emphasised the importance of supporting Nigeria’s efforts in developing a sustainable and integrated blue economy.

She highlighted the potential for growth in sustainable fisheries and outlined how the World Bank could contribute by providing expertise and technical knowledge.

Sieghart commended President Tinubu for the strategic creation of the ministry, and stressed that the World Bank was eager to identify areas of collaboration that would ensure long-term benefits for Nigeria.

In his response, Oyetola expressed gratitude to the World Bank team for their interest in Nigeria’s marine sector. He outlined several key initiatives already underway, including efforts to map the country’s marine and Blue Economy resources. He also stressed that fisheries and aquaculture development are central to the ministry’s mission.

“Fishery is the flagship of our ministry. We are taking steps to regulate the sector and have designated terminals for fishing activities. Our goal is to establish a sustainable fishery program, making it attractive to the youth and reducing the reliance on fish imports by encouraging local production,” said Oyetola.

He emphasized the ministry’s readiness to collaborate with the World Bank to realize these ambitious plans.

The meeting was attended by key officials, including the Permanent Secretary of the Ministry, Oloruntola Olufemi; Director of Maritime Safety and Security, Babatunde Bombata; and Prof. Busayo Fakinlede, Technical Aide to the Minister, among others.