Yesterday, on the margins of the ongoing 78th United Nations General Assembly, UNGA in New York, Nigeria’s Minister of Marine and Blue Economy, Adegboyega Oyetola participated in the Ministerial meeting for Atlantic Cooperation, which was convened by the US Secretary of State, Anthony Blinken. At the meeting, 32 coastal Atlantic countries including Nigeria adopted the Declaration on Atlantic Cooperation and launched the Partnership for Atlantic Cooperation.
The Partnership will address a broad range of issues, from economic development to environmental protection to science and technology. The Atlantic Ocean is the world’s most heavily traveled ocean with critical trade routes and global energy reserves. The World Bank estimates that the ocean contributes $1.5 trillion annually to the global economy—and expects this figure to double by 2030. Sustainable ocean economy sectors are estimated to generate almost 50 million jobs in Africa and to contribute $21 billion to Latin American GDP.
In his remarks at the meeting, the Minister appreciated the US Secretary of State for the invite and expressed Nigeria’s gratitude for the opportunity to be part of the Atlantic Cooperation. He noted that this initiative would not just benefit the maritime sectors of the participating nations but will also immensely foster unity, peace and togetherness between these nations.
Oyetola informed the Forum that President Bola Ahmed Tinubu had recently created the Ministry of Marine and Blue Economy, which represents his administration's commitment to harness the nation's maritime potential and create prosperity for Nigerians. He also expressed Nigeria’s willingness to join global initiatives and contribute to policies that will help conserve and ensure sustainable utilization of oceans, seas and marine resources for sustainable development.
"As a nation, we're open to negotiate trade partnerships that allow Atlantic nations to trade efficiently and effectively for the promotion of economic growth and development whilst fostering national unity and togetherness. We are also committed to exploring innovative and sustainable action plans within the coastal Atlantic nations that will boost the economy of our nations, develop the mind and growth of our citizens and ensure peaceful co-existence to make the world a better place," he said.
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