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President Tinubu’s marine blue economy ministry: Bold step towards prosperity – HE Tamuno

Published

9 months ago

August 20, 2023

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The current Nigerian High Commissioner to Jamaica, Belize, Haiti and the Dominican Republic, and Nigeria’s Permanent Representative to the International Seabed Authority (ISA), H.E Dr. Maureen P. Tamuno, has extolled President Bola Ahmed Tinubu over establishing the Marine and Blue Economy Ministry and appointing Hon. Olubunmi Tunji-Ojo as the minister. She noted that the creation of the Ministry would go a long way in enhancing emerging areas of our Economy.

In a strategic move that underscores a commitment to sustainable development goals and environmental stewardship, the recent establishment of the Marine and Blue Economy Ministry by President Tinubu has drawn praise from citizens and experts alike. This visionary decision reflects a forward-thinking approach to economic growth and showcases a dedication to preserving the invaluable marine ecosystems that define our nation. The establishment of this ministry is a testament to the administration’s commitment to fostering a prosperous, resilient, and environmentally conscious country.

Ambassador Tamuno stated that the implications of this step are far-reaching as the Marine and Blue Economy Ministry holds the potential to drive Nigeria’s economy and innovation, create jobs, and enhance our nation’s competitiveness on the global stage.

Equally significant is the Ministry’s role in addressing pressing environmental challenges. Oceans, which cover more than 70% of the Earth’s surface, are under considerable threat from pollution, over-exploitation, and the impacts of climate change, as seen in our coastal areas and hinterland. President Tinubu is steadfastly committed to combatting these issues head-on by dedicating a specific ministry to the marine and blue Economy.

Moreover, this decision resonates with global commitments such as the United Nations Sustainable Development Goals (SDG) and the Paris Agreement, which emphasize the importance of sustainable ocean management. President Tinubu aligns our country’s trajectory with international efforts to safeguard our planet’s oceans for current and future generations by prioritizing the marine and blue Economy.

It is worth noting that Ambassador Tamuno, in October 2022, employed her diplomatic capabilities and successfully organize a three-day summit in collaboration with the International Seabed Authority in Abuja. The event centered on the overarching theme of “Promotion of the sustainable development of Africa’s deep-seabed Resources in Support of Africa’s Blue Economy. The event was well attended by A-list personalities that included the Secretary-General, International Seabed Authority, Michael Lodge; Minister of State for Transportation, Prince Ademola Adegoroye; Chief of Naval Staff, as well as Experts and Senior representatives from Nigeria, Comoros, Eritrea, Ethiopia, Ghana, Sao Tome and Principe and Uganda.

The outcomes of the workshop have informed Nigeria to initiate preparations for securing a contract in the deep seabed to explore minerals on the seabed beyond national jurisdiction. Nigeria will be the inaugural African nation to secure the contract.

Tamuno, who also Chairs the Informal Working Group on Inspection, Compliance, and Enforcement in the ISA, stated that its time for the government and corporate organizations to key into the enormous economic opportunities available as over thirty Contracts have already been awarded to other member states.

As citizens, she said we must applaud President Tinubu’s dedication to advancing our country’s economic interests while safeguarding our natural heritage. The establishment of the Marine and Blue Economy Ministry stands as a testament to the President’s visionary leadership and commitment to fostering a sustainable, prosperous, and environmentally conscious nation.

Amb Tamuna concluded that in the grand scheme, this new chapter in our country’s history is not just about creating a ministry—it’s about forging a path toward a more harmonious relationship between human activity and nature. As the initiatives of the Marine and Blue Economy Ministry unfold, we can look forward to witnessing a transformation that leaves an indelible mark on our nation’s legacy.

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BREAKING: Nigeria’s inflation rate rises to 33.69%

Published

26 mins ago

May 15, 2024

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The National Bureau of Statistics (NBS) says Nigeria’s inflation rate rose to 33.69 percent in April, as prices of food and non-alcoholic beverages soared.

The NBS shared the inflation data in its consumer price index (CPI) report on Wednesday.

“Looking at the movement, the April 2024 headline inflation rate showed an increase of 0.49% points when compared to the March 2024 headline inflation rate,” the NBS said.

“On a year-on-year basis, the headline inflation rate was 11.47% points higher compared to the rate recorded in April 2023, which was 22.22%.”

Details later…

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Naira notes printing: Court grants Emefiele N300m bail

Published

2 hours ago

May 15, 2024

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A federal capital territory high court has granted bail to Godwin Emefiele, former governor of the Central Bank of Nigeria (CBN), in the sum of N300 million.

The Economic and Financial Crimes Commission (EFCC) arraigned Emefiele on a four-count charge before MaryAnn Anenih, the presiding judge, on Tuesday.

Emefiele pleaded not guilty to the four-count charge when it was read to him.

Moving an application for bail, Mahmud Magaji, counsel to Emefiele, asked the court to grant his client bail on self-recognition and on the same grounds and conditions of bail already granted him by a coordinate court presided over by Hamza Muazu.

He added that the defendant will always be in court to face trial.

In her ruling, Anenih granted the former CBN governor bail in the sum of N300 million, with two sureties in like sum.

The court said the sureties must be residents of Nigeria and owners of properties within the Maitama district of Abuja, and that they must possess an affidavit of means.

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Emefiele has also been asked to deposit his travel documents before the court. He is not permitted to leave the country without the permission of the court.

Anenih added that Emefiele should be remanded at Kuje Correctional Centre pending the fulfilment of his bail conditions.

The case has been adjourned to May 28 and 29 for continuation of trial.

The anti-graft agency is accusing Emefiele of “illegal” printing of naira notes in its fresh charge.

In the charge sheet seen by TheCable, EFCC alleges that Emefiele “disobeyed the direction of law with intent to cause injury to the public” by approving the printing of naira notes without “strict approval” from former President Muhammadu Buhari and the CBN board.

Emefiele is alleged to have approved the printing of N684.5 million notes at the rate of N18.96 billion.

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UN approves extension of Nigeria’s maritime territory

Published

3 hours ago

May 15, 2024

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The United Nations (UN) has granted Nigeria sovereignty over additional square kilometres of maritime territory.

Nigeria made the submission in 2009 through the high powered presidential committee (HPPC) on the country’s extended continental shelf project.

Larry Awosika, a marine scientist and member of the committee, told President Bola Tinubu that the approval came after years of meticulous research on geophysics, geology and geography.

He added that diplomacy also helped to solidify Nigeria’s legal rights over a vast expanse of seabed and subsoil beyond its traditional territorial waters.

Awosika spoke on Tuesday in Abuja while presenting the approval report alongside other members of the HPPC, according to a statement issued by Ajuri Ngelale, presidential spokesperson.

The professor said the economic potentials of the newly acquired territory are vast, including increased investments in hydrocarbons, gas, solid minerals, and a wide variety of sedentary species.

Aliyu Omar, committee secretary, said the new approved area “is about 16,300 square kilometres, which is about five times the size of Lagos State”.

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Omar added that the official notification of the decision was conveyed to Nigeria by the UN Commission on the Limits of the Continental Shelf (CLCS) in August 2023, shortly after Tinubu assumed office.

”The first option is to take the area gained and finalize the registration with the UN Secretary-General and close everything, meaning that we are satisfied with what we got. This will take at least one year,” the surveyor said.

”The second option is to take what we have right now, acquire more data, do a support write-up, and make a revised submission as recommended by CLCS for further consideration. This will take another four years.

”Either way, Nigeria will keep what has been approved.’’

Tinubu lauded the achievements, saying it reflects Nigeria’s economic and strategic interests.

‘‘This is big congratulations for Nigeria,’’ he said.

”I commend the team, and we must take advantage of this and invite you again to have a repeat of this knowledge exploration on geography, hydrography, and the marine life.

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”Nigeria is grateful for the efforts that you put into gaining additional territory for the country without going to war. Some nations went to war, lost people and economic opportunities.”

Tinubu said his administration will continue to pursue the best options for the country.

Femi Gbajabiamila, chief of staff to the president; Adegboyega Oyetola, minister of marine and blue economy; and Hassan Tukur, HPPC chairman; also attended the meeting.