Nigeria and maritime security

Nigeria and maritime security

By: Rotimi Amaechi, Minister of Transportation

At a time like this when the global energy situation is in a flux, fluctuating prices of crude oil, and the growing demand for and use of alternative energy sources have necessitated a careful reassessment by countries like ours who depend on crude oil for a huge percentage of foreign exchange earnings.

Faith in fossil fuels continues to decline globally. With the concomitant decreasing revenue, crude oil dependent countries must now try as a matter of necessity to augment any projected revenue shortfalls by thinking outside the box. This is more so if we in Nigeria must still pursue the kind of aggressive infrastructural development that President Muhammadu Buhari promised upon his election. The whole idea of thinking beyond oil meant that government had to deliberately invest in the development of other sectors of our economy like the maritime and agricultural sectors that have potentials of contributing as much revenue as crude oil to our economy – if not more.

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