The Vice Chancellor of the University of Ilorin, Kwara State, Prof. Wahab Egbewole, has pledged to partner relevant bodies to promote Blue Economy study and utilisation of its potential in the university.

The blue economy is a term in economics relating to the exploitation, preservation and regeneration of the marine environment.

Mr Egbewole made the commitment on Tuesday in Ilorin while signing a Memorandum of Understanding on Blue Economy with Premium Blue Economy Innovation and Investments Limited and the Porrima Foundation, Gryon, Switzerland.

He expressed his readiness to transform the university into a hub for Blue Economy training in Nigeria to contribute its quota to the emerging field.

He hinted at the possibility of partnering with universities outside Nigeria for research exchange as well as the exchange of staff and students.

Mr Egbewole added that this global perspective aligns with the university’s commitment to providing a comprehensive and enriching educational experience for its community.

“The joint initiative between the University of Ilorin and its international partners signifies a crucial step towards advancing research, innovation and practical applications in the realm of Blue Economy,” he said.

The vice chancellor stated that this would position the institution as a catalyst for sustainable economic development in Nigeria.

“Blue Economy is something that is emerging, but we want to be part of it and we believe there is no harm in exploring and exploiting. We believe it is our resolve that this is something that is doable, and we are ready to give it all that it takes, especially since it does not require us to put any money on the table,” he said.

Mr Egbewole explained that UNILORIN would leverage its expertise and generate ideas that could be translated into tangible economic gains.

Chief Tajudeen Karim, who spoke on behalf of Premium Blue Economy Innovation and Investments Ltd, and the Porrima Foundation, said the MoU had heralded a transformative partnership aimed at propelling UNILORIN into the forefront of the growing Blue Economy sector.

He acknowledged the commendable efforts of the Federal Government in establishing the Ministry of Marine and Blue Economy.

According to him, this signals a crucial awakening to the vast potential within the marine and emerging Blue Economy sector.

He said that the partnership would involve training of students from the university both locally and internationally, engaging in tangible economic activities, such as utilising resources such as sugarcane, manures and animal waste.

Mr Karim added that in a few weeks, the collaboration would extend beyond academic activities to encompass the business aspect of the initiative.

He expressed the hope that the institution would establish a dedicated department whose focus would be marine and Blue Economy.(NAN)