Oyetola Proposes Robust Collaboration With India To Boost Blue Economy

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The Minister of Marine and Blue Economy, Mr. Adegboyega Oyetola.
The Minister of Marine and Blue Economy, Mr. Adegboyega Oyetola.

In a bid to leverage India’s extensive maritime expertise and heritage, the Minister of Marine and Blue Economy, Adegboyega Oyetola has advocated for strengthened collaborations with that country’s government.
Recognising India’s significant contributions to the ports and shipping industry, Oyetola expressed optimism that closer ties with India would attract investments and foster growth in the blue economy sector.
Oyetola, who highlighted the potential gains from such collaboration during the Nigeria-India Business Forum themed “Expanding Trade and Investment Opportunities Between Nigeria and India,” expressed satisfaction that the forum provided a platform for both nations to strategically explore investment opportunities.
“I am particularly glad that this forum has brought Nigeria and India together to collaborate and strategically plan on exploring investment opportunities in both countries,” Oyetola stated. “I am optimistic that this forum will further strengthen the bilateral ties between the two countries, thereby increasing foreign direct investment, facilitating capacity/technology transfer and fostering sustainable business partnerships between the government and private sectors of both countries.”
Oyetola emphasised the timeliness of the business forum, aligning with the Federal Government’s commitment to harnessing the blue economy’s potential through public-private partnerships. He outlined the ministry’s expectations, including closer economic cooperation in enhancing port infrastructure, promoting blue economy investments, developing tourism facilities, creating export processing terminals, and providing inland waterways transport.
The Minister of Industry, Trade and Investment, Doris Uzoka-Anite commended the progress made since the Presidential Roundtable in New Delhi, where Indian investors pledged nearly $14 billion worth of investments into Nigeria’s economy.
Highlighting the strong presence of Indian companies in Nigeria, Uzoka-Anite praised Nigeria’s embrace of companies such as Bharti Airtel, Tata, Stallion Motors, Churchgate and Indorama. She also acknowledged the successful conclusion of the sixth session of the Nigeria-India Joint Commission Meeting.
In his address, the Minister of External Affairs, Republic of India, Dr. S. Jaishankar, emphasised the essence of government in improving the enabling environment, addressing challenges, and offering practical solutions. Jaishankar assured the Nigerian business community of India’s support in technology sharing, digital public infrastructure, agricultural sustainability, security, and the blue economy.
Pointing to India’s commitment through 200 development projects across Nigeria, Jaishankar expressed a desire for strengthened relationships and alliances between the two countries.

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