The Chief of the Naval Staff, Vice Admiral Emmanuel Ogalla, has said that the blue economy is crucial to the economic prosperity of Nigeria in the face of population growth.
Ogalla made this known in Nsukka on Thursday while delivering the 2024 Distinguished Annual Public Lecture of the Faculty of the Social Science, University of Nigeria, Nsukka (UNN), titled, "Safeguarding Nigeria Blue Economy Potentials: The Role of the Nigeria Navy."
He described the blue economy as the sustainable utilisation of marine resources and stressed that Nigeria must harness the potentials that abound in it to achieve economic prosperity.
"The blue economy is crucial to the economic prosperity of Nigeria, particularly as our population grows and the global supply chain becomes increasingly integrated, this growth also brings a multidimensional increase in maritime crimes.
"The Nigeria Navy has demonstrated a strong commitment to ensuring a secure environment necessary to safeguard the nation's blue economy potentials.
"The continued success of these efforts will require increased support and collaboration from all stakeholders," he said.
Speaking further, the Chief of the Naval Staff noted that despite the immense potential of the blue economy the maritime domain is posed with various threats to global economic stability.
"The maritime domain remains vulnerable to various threat that poses significant risks to global economic stability.
"Maritime crime encompasses a wide range of illicit activities prohibited under both international and national laws, thereby increasing shipping cost, disrupting trade, and contributing to economic instability and financial uncertainty," he said.
Ogalla commended the faculty for finding him worthy to deliver the faculty's 2024 distinguished annual public lecture and promised continuous partnership with the university.
In a remark, Prof Aloysius Okolie, the Vice-chancellor of Enugu State University of Science Technology who chaired the occasion, expressed appreciation to Vice-Admiral Ikechukwu Ogala for accepting to be the guest lecturer of the 2024 Faculty of Social Science, University of Nigeria Nsukka public lecture.
Okolie said the present high rate of kidnapping, arm-banditry, terrorism among others was a result breakdown of social contracts and moral values.
"One of the reasons for the present insecurity in the country is that some of the perpetrators are not engaged in useful ventures due to the breakdown of social contracts and morals.
He commended the Faculty of Social Science for the choice of Ogala as the guest lecturer as well as the topic of the lecture which he described as apt, especially now the county needed more avenues for revenue generation.