Maritime Bank: MOWCA SG visits Edun as minister reaffirms Nigeria’s support

Maureen Aguta

The Secretary General of the Maritime Organisation of West and Central Africa (MOWCA), Dr. Paul Adalikwu on Tuesday visited Nigeria’s Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun as part of efforts geared towards the establishment of a regional maritime bank for the West and Central Africa.

Adalikwu while briefing the minister on MOWCA’s activities, described the proposed bank as an opportunity to expand maritime investment, entrepreneurship and job creation which would support President Bola Tinubu administration’s agenda for economic growth

He added that the bank would bridge the gap of providing financing options for the maritime sector in Nigeria and other MOWCA member states including aiding efforts for maritime infrastructural development like vessel procurement, construction of jetties, provision of port facilities, technically assisting in capacity upgrade and other areas.

Adalikwu also briefed the minister on the various options and model for maritime financing that can accelerate development and faster achievement of the economic goals of Nigerian government

The MOWCA SG while thanking the government for creating a ministry of marine and blue economy also called for a robust synergy between Nigeria and the organisation. He said a viable partnership between both bodies holds the potential of maximum economic benefits for MOWCA and Nigeria.

Edun expressed interest and optimism in the MOWCA activities especially on the bank which he described as a special purpose outfit tailored to address the financial needs of the marine and blue economy sector.

The Minister also commended Adalikwu for his efforts at repositioning MOWCA while pledging the Federal Government’s support for the regional maritime bank.