THE SECRETARY GENERAL OF MOWCA’S VISIT TO THE NIGERIA MINISTER OF MARINE AND BLUE ECONOMY IN ABUJA NIGERIA, ON THE 21ST MARCH, 2024

Minister of Marine and Blue Economy, Adegboyega Oyetola CON has restated Nigeria’s commitment to the leadership of the Maritime Organisation of West and Central Africa (MOWCA) and the Regional Maritime Development Bank being promoted by MOWCA.

Speaking in Abuja on Thursday when he received Dr Paul Adalikwu, MOWCA Secretary General, Oyetola identified the bank as an important catalyst for maritime development to finance platforms and infrastructures for economic growth.

He commended the initiative of a MOWCA workshop for the prevention of waterways accidents slated for Libreville, Gabon later in the year and expressed interest in having similar programmes brought to Nigeria to promote waterways safety.

The minister who urged all MOWCA member countries to contribute their quotas in ensuring that the maritime bank is adequately financed, added that Nigeria will be transparent in the nomination of qualified persons to fill the allotted positions to the country including the post of President and Managing Director of the bank.

While commending Adalikwu for properly organising the MOWCA Secretariat and promoting good corporate governance, Oyetola advised that due diligence be observed before the full takeoff of the bank to avoid formation mistakes.

Speaking earlier, Adalikwu who was visiting the minister for the first time since the creation of the marine and blue economy ministry, said Nigeria’s stake in regional maritime issues is expanding.

He said the bank’s charter provided that a minimum of eight countries should endorse the Charter and that nine countries have so far signed up for the bank creating the grounds for easy takeoff.

According to him, 51% of the bank shares are reserved for member countries while 49% equity would be owned by private sector stakeholders in the project.

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