The Minister of Marine and Blue Economy, Gboyega Oyetola, said on Tuesday the Federal Government would increase the country’s navigable waterways from 3,000 kilometres to 5,000 kilometres.
Oyetola stated this during his working visit to the National Inland Waterways Authority (NIWA) in Lagos.
He said the elongation of the waterways would advance the effectiveness and efficiency of navigation on waterways for the passage of goods and people.
The minister said: “I am aware that of the 10, 000 kilometres of our waterways, only 3,000 kilometres are navigable. We are determined to increase them by at least 2,000 kilometres more.
“This is why we should embark on a holistic dredging of strategically important inland waterways for the passage of goods and people.
“This is a task that must be accomplished to create positive change, and leave a lasting legacy for generations to come.”
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Oyetola said the ministry was currently engaging relevant stakeholders to finalise the arrangement for the disbursement of the Cabotage Vessel Financing Fund (CVFF) for the development of the maritime sector.
“As a ministry, we will continue to create the enabling environment, develop policies and offer necessary support to grow the inland waterways segment of the maritime sector in line with the Renewed Hope Agenda of the present administration.
“In line with the mandate of the ministry, we will continue to vigorously pursue the development of the shipping and maritime-related sectors to ensure sustainable development of our marine resources.
“I call on the private sector to explore and utilise the opportunities inherent in the sector for possible investment and partnership with the government to enhance growth and ensure sustainable development,” he added.
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