Harboursandport.com: Lagos - The
African Export-Import Bank has said that its maritime intervention fund has hit over US$500 million in the last three years. The facilities is for the Onne Port
expansion in the Onne Free Trade Zone, FTZ, Nigeria, Gabon and Cote D'Ivoire.
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| Prof. Benedict Okey Oramah |
The
President of Afreximbank, Prof. Benedict Okey Oramah made this known while
delivering a paper titled ‘Awakening the blue giant: catalyzing the growth of
Nigeria’s maritime economy through public relations” at the 19th NECCI
PR roundtable in Lagos.
Oramah
said Afreximbank has continued to push the limits in Africa to promote internal and external African trade. According to him, “total assets as at June 2019 closed
at $15.4billion, the gross income of $498million, net income of $137million, CAR at
23 per cent, NPL at 3 per cent, CIR at 17.4 per cent and shareholders’ funds of
$2.7billion.
Speaking
on the importance of the blue economy, the president of Afreximbank said: “The Blue
Economy, also referred to as the ocean or maritime economy, is a concept which
leverages the strength of the maritime ecosystem including fishing; shipping
and maritime transport; coastal tourism; marine energy (fossil and renewable);
pharmaceutical and cosmetic industries, genetic resources and general sea-based
products for economic growth and development.”
According
to him, “Africa’s seas and oceans represent major assets with the potential to
accelerate the development of African economies. Indeed, according to the
African Union (AU),” he said, “90% of Africa’s imports and exports are
conducted through the sea. The African Union has recognized the importance of
the BE and has included it in its Agenda 2063, which is a blueprint for
development of the continent for the next few decades.”
On why
the country must take the maritime sector seriously, the Director-General of
Nigerian Maritime Administration and Safety Agency, NIMASA, Dr Dakuku
Peterside said that despite a series of effort channel towards diversification
of Nigeria's economy, the results are yet to be visible as the oil still contributed
over 70 per cent of foreign exchange.
“For
a very long time, there is a perception that the most profitable sector in the country is oil and gas sector but evidence has shown that it’s not sustainable
to depend on mono-economy so there has been agenda to diversify economy.
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