National Economy
Friday, June 6, 2025
  • Home
  • News
    • International Business
  • Lead-In
    • Cover
    • Investigation
  • Economy
    • Nigerian Economy
    • Fiscal Policy
    • Energy
    • Agri Business
    • Transportation
    • Industry
    • Competition
    • Homes & Property
    • Insurance
    • Companies & Markets
      • Companies
      • Capital Market
  • Tech
  • States & Politics
  • Commentary
    • Analyst
    • Business Matters
    • All Angles Considered
    • ClickSend
  • Editorial
  • Data
  • Others
    • Opinion
    • Money Guide
    • Analysis
    • Growth
    • Sport Economy
No Result
View All Result
Read News
National Economy
  • Home
  • News
    • International Business
  • Lead-In
    • Cover
    • Investigation
  • Economy
    • Nigerian Economy
    • Fiscal Policy
    • Energy
    • Agri Business
    • Transportation
    • Industry
    • Competition
    • Homes & Property
    • Insurance
    • Companies & Markets
      • Companies
      • Capital Market
  • Tech
  • States & Politics
  • Commentary
    • Analyst
    • Business Matters
    • All Angles Considered
    • ClickSend
  • Editorial
  • Data
  • Others
    • Opinion
    • Money Guide
    • Analysis
    • Growth
    • Sport Economy
No Result
View All Result
National Economy
No Result
View All Result
Home Lead-In

UN Approves Nigeria’s Maritime Expansion, Adds Vast New Territory

by `
1 year ago
in Lead-In
Reading Time: 2 mins read
UN Approves Nigeria’s Maritime Expansion, Adds Vast New Territory

UN Approves Nigeria’s Maritime Expansion, Adds Vast New Territory

Share on FacebookShare on TwitterShare on Telegram

You May Like

FLOOD THREATS: Disaster Looms Over Absence Of Climate-resilient Agriculture

The Dangerous Rise Of Non-state Tax Collectors In Nigeria

Nigeria has received United Nations approval to extend its continental shelf by 16,300 square kilometers, an area five times the size of Lagos State.
President Bola Tinubu received the report from the High Powered Presidential Committee (HPPC) on Nigeria’s Extended Continental Shelf Project on Tuesday, marking a significant milestone for the nation’s maritime boundaries and economic potential.
The UN’s approval, based on the United Nations Convention on the Law of the Sea (UNCLOS) 1982, grants Nigeria sovereignty over this additional maritime territory, expanding its jurisdiction beyond the existing 200 nautical miles. Initiated in 2009, the project reached this milestone after years of dedicated scientific and diplomatic efforts.
In a presentation to the president, Professor Larry Awosika, a marine scientist, and Aliyu Omar, Secretary of the HPPC, detailed the extensive research and negotiations that led to the UN’s decision.
“This approval by the United Nations Commission on the Limits of the Continental Shelf (CLCS) allows Nigeria to extend its continental shelf beyond 200 nautical miles. The newly approved area is approximately 16,300 square kilometers,” stated Surveyor Omar. He emphasised the strategic importance of this development for Nigeria, which holds significant economic potential, including hydrocarbons, gas, solid minerals, and a variety of sedentary species.
Omar outlined two options available to Nigeria following the approval: finalising the registration with the UN Secretary-General, which would take about a year, or acquiring additional data for a revised submission, potentially extending the process to four years. “The first option is to take the area gained and finalise the registration with the UN Secretary-General and close everything, meaning that we are satisfied with what we got. This will take at least one year.
“The second option is to take what we have right now, acquire more data, do a support write-up, and make a revised submission as recommended by CLCS for further consideration. This will take another four years. Either way, Nigeria will keep what has been approved.”
In simpler terms, Nigeria can either finalize the current approval with the UN, securing the newly gained territory within a year, or gather more data to support a revised submission, which could further extend the shelf and take about four years. Regardless of the chosen path, Nigeria will maintain the newly approved area.
Professor Awosika highlighted the meticulous scientific research that underpinned Nigeria’s successful submission.
“The approval came after years of detailed studies in geophysics, geology, and geography, coupled with strategic diplomatic efforts,” he said.
He also noted the importance of maintaining confidentiality regarding the sensitive data acquired during the surveys to protect Nigeria’s economic interests.
President Tinubu expressed his gratitude to the committee for their hard work and dedication. “This is a significant achievement for Nigeria. We have gained additional territory without conflict, showcasing our commitment to peaceful and strategic expansion,” the President remarked.
He also mentioned discussions with former President Muhammadu Buhari and international counterparts, including Brazil’s President Lula, emphasizing the importance of collaboration within economic and maritime boundaries.
The president commended the team for their expertise and commitment to advancing Nigeria’s interests. “I commend the team, and we must leverage this achievement to further explore opportunities in geography, hydrography, and marine life. Nigeria is grateful for your efforts,” he stated.

 

Tags: maritime
ShareTweetShare
Previous Post

FG Plans Fiscal, Tax Relief For Informal Sector Businesses

Next Post

Diaspora Remittances Fall 6.28% To $282.61m In Q1 2024

ANOTHER GOOD READ

FLOOD THREATS: Disaster Looms Over Absence Of Climate-resilient Agriculture
Cover

FLOOD THREATS: Disaster Looms Over Absence Of Climate-resilient Agriculture

2 months ago
The Dangerous Rise Of Non-state Tax Collectors In Nigeria
Fiscal Policy

The Dangerous Rise Of Non-state Tax Collectors In Nigeria

2 months ago
Revenue Loss Grips Nigeria, Others Over Oil Price Drop
Lead-In

Revenue Loss Grips Nigeria, Others Over Oil Price Drop

2 months ago
CVFF: FG Opens $25m Vessel Loan Access For Indigenous Shipping Firms
Lead-In

CVFF: FG Opens $25m Vessel Loan Access For Indigenous Shipping Firms

2 months ago
FG Launches LEEP, Targets 2.5m  Jobs In 2 Years
Lead-In

FG Launches LEEP, Targets 2.5m Jobs In 2 Years

2 months ago
Nigeria Unveils National AI Strategy To Accelerate Innovation, Growth
Lead-In

Nigeria Unveils National AI Strategy To Accelerate Innovation, Growth

2 months ago
Next Post
Diaspora Remittances Fall 6.28% To $282.61m In Q1 2024

Diaspora Remittances Fall 6.28% To $282.61m In Q1 2024

Most Recent

PENGASSAN Secures 300% Wage Increase For Oil And Gas Workers

PENGASSAN Secures 300% Wage Increase For Oil And Gas Workers

June 3, 2025
1,500 Bureau De Change To Shut As Recapitalisation Deadline Elapses

1,500 Bureau De Change To Shut As Recapitalisation Deadline Elapses

June 3, 2025
FIRS Engages Oil, Gas Stakeholders On E-invoicing Ahead Of July Launch

FIRS Entering New Era Of Excellence, Trust — Adedeji

June 3, 2025
JUST-IN: Reps Pass Tax Reform Bills

N250bn Public Expenditures Unaccounted — Reps

June 3, 2025
5 Unicorns In 9 Years, Who Does That?

5 Unicorns In 9 Years, Who Does That?

June 2, 2025
Guinness Record: Ali Seeks Gov Eno’s Support For World Title Fight

Guinness Record: Ali Seeks Gov Eno’s Support For World Title Fight

June 2, 2025
2026 World Cup Could Change Football Experience – Neymar

2026 World Cup Could Change Football Experience – Neymar

June 2, 2025
2025 National Sports Federations’ Board Elections: NSC Unveils Timeline Proposed Timelines For 2025 National Sports Federations’ Elections

2025 National Sports Federations’ Board Elections: NSC Unveils Timeline Proposed Timelines For 2025 National Sports Federations’ Elections

June 2, 2025
Advertise with us

© 2024 | National Economy

No Result
View All Result
  • Home
  • News
    • International Business
  • Lead-In
    • Cover
    • Investigation
  • Economy
    • Nigerian Economy
    • Fiscal Policy
    • Energy
    • Agri Business
    • Transportation
    • Industry
    • Competition
    • Homes & Property
    • Insurance
    • Companies & Markets
      • Companies
      • Capital Market
  • Tech
  • States & Politics
  • Commentary
    • Analyst
    • Business Matters
    • All Angles Considered
    • ClickSend
  • Editorial
  • Data
  • Others
    • Opinion
    • Money Guide
    • Analysis
    • Growth
    • Sport Economy

© 2024 | National Economy