In the Council Chambers of the State House in Abuja, President Bola Tinubu is presiding over the first Federal Executive Council, or FEC, meeting of his government.
Remember that the new cabinet ministers were inaugurated on Monday of last week after being confirmed by the Senate in accordance with its constitutional duty. President Tinubu was sworn in on May 29.
The 45 ministers that make up the cabinet passed the screening, but three additional nominees were turned down.
Kashim Shettima, the vice president, Senator George Akume, the secretary to the government of the federation, Folashade Yemi-Esan, the head of the federation’s civil service, and Femi Gbajabiamila, the president’s chief of staff, are also in attendance at the first FEC.
At the swearing-in of ministers on August 21, President Tinubu emphasized that their top duty is to rebuild public trust in government so that people can once again have faith that the right hands are running the country.
Additionally, he warned the ministers that he would hold them to the high expectations of Nigerians and asked them to serve with honor and honesty.
The Senate of the Federal Republic of Nigeria has approved 45 ministers who would oversee the federal government’s ministries in this administration of renewed optimism, in accordance with its constitutional duties.
“I carefully chose the men and women who have been sworn in based on their record of accomplishment in the public and private sectors.
They represented the diversity of Nigeria and bring to their new positions a range of experience and skills to help steer the country’s affairs as well as continuing to rebuild the country and re-engineer all our financial and structural flaws, which he had previously stated were the foundations for Nigeria today and in the future.
Read Also Stakeholders Applaud Long-Overdue Marine and Blue Economy Ministry > On Monday, President Bola Ahmed Tinubu swore in his 45-person cabinet. Days after giving them portfolio assignments, this happened.The creation of the Ministry of Marine and Blue Economy, however, is one feature of the ministerial cabinet that has greatly excited economic specialists and opinion leaders.The establishment of this ministry is a rare example of the federal government’s urgency to breathe life into and take advantage of chances for economic development at sea, according to experts and players in Nigeria’s marine and aquatic sector of the economy.
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They believe that the new ministry will lead the country toward economic progress and prosperity if given the attention it deserves and the resources it needs to do its job well.The sustainable use of ocean resources for economic development, enhanced livelihoods, and improved ocean health is referred to as the “Blue Economy.” It includes a variety of industries, including aquaculture, tourism, biotechnology, renewable energy, and fishing.For many years, as Nigeria dozed off, other countries like Egypt reaped enormous benefits from the blue economy.The Suez Canal in Egypt, which connects Europe and Asia, brought approximately $8 billion in revenue from that industry in 2022.
According to economic commentators, the blue economy sector has enormous potential to boost the economy, create jobs, and give coastal towns a source of income.They estimate that it is worth more than $1.5 trillion annually, supports over 30 million jobs, and gives more than 3 billion people a crucial source of protein.In a paper, the African Union also claimed that the Blue Economy might bring the continent over $300 billion a year.Adegboyega Oyetola, the pioneering Minister, and his colleagues in that ministry were encouraged by the experts to completely comprehend the concept and crucial function of this distinctive and innovative ministry in light of these prospects and opportunities.They anticipate that the ministry will enhance Africa’s largest economy so it can compete on a global scale in addition to helping Nigeria access the multi-billion dollar global sector.’Blue Economy’ is a notion that has acquired popularity in the previous ten years, according to Mr. Jude Nwandu, an economist and managing director of Netolinks Consultancy Lagos.He based his argument on the fact that nations’ natural resources are running out and that they must diversify their economies in order to raise enough money to meet their citizens’ social demands.