The Traffic

*$2.5 trillion Ondo State Marine and Blue Economy investment potentials -  Lulu O. Fawehinmi*

In Recent times Ondo state is having a boost in the marine and blue economy, from strategically planning and mapping out the cosatline, ondo state has vast potential with a 180-kilometer coastline, the longest in Nigeria, the state is poised to tap into the global blue economy estimated to be worth $24 trillion and generating $2.5 trillion annually.

Investment output in Maritime Trade and Transportation, Fisheries and Aquaculture, Coastal Tourism, Renewable Energy, these will give the state a good economical performance and Gross Domestic Product (GDP) growth. 

 *Optimistic and desired expectations*
1. value-added products to boost the local economy and create jobs.
2. Investing in modern water transportation, port storage facilities, and vessel maintenance yards to enhance trade and commerce.
3. Promoting waterway tourism with hotels, restaurants, and recreational facilities to showcase the state's natural beauty.
4.  Exploring opportunities for sustainable energy development, such as offshore wind farms or tidal power plants.
5. Developing sustainable fishing practices, fish processing

*Investment and partnership*

Blue economy experts, like Owowa Oluwasegun Alex, are championing the state's marine-driven economic transformation, emphasizing the need for a dedicated Blue Economy Advisory Office and clear policy framework.

The Governor of Ondo State, H.E Lucky Aiyedatiwa has taken nessessary steps by launching "Operation Safe Ondo Waters" to ensure waterway safety and security, and introduced a Waterway Insurance Scheme to protect maritime activities. He has also secured partnerships with investors and industry experts to develop the blue economy, with a focus on Public-Private Partnerships (PPPs) and foreign direct investment.

The Administration remains committed in its innovation to build the marine and blue economy, securing sustainable employment opportunities, income-generating activities for local communities, waterway safety, fostering economic opportunities, and position in regional and international trade.