Vice President Yemi Osinbajo yesterday at the Presidential Villa, Abuja, inaugurated an Expanded Partnership Committee on Sustainable Blue Economy.

The committee, chaired by Osinbajo, is composed of state governors, ministers, representatives of military and security agencies and members from the private sector.

The committee’s terms of reference include providing an assessment of the current realities, opportunities and challenges for economic diversification and the growth of a sustainable blue economy in Nigeria.

The committee will also identify and review relevant policies and institutional/capacity building mechanisms for blue economy development in Nigeria, among others.

The blue economy is the sustainable use of ocean resources for economic growth, improved livelihoods and jobs, while preserving the health of ocean ecosystems.

It entails emerging renewable energy, seabed extractive activities and marine biotechnology and bio-prospecting.

Osinbajo said the committee had representatives from the states and the geo-political zones, agency representation, Chief of Naval Staff, Comptroller-General of Customs, NIMASA and several other agencies.

He said Ministry of Industry, Trade and Investment, Ministry of Power, Ministry of Petroleum and Ministry of Environment were part of the committee.

NAN