National Economy
Sunday, July 13, 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

World Bank Approves $65m Loan For Nigeria’s SPESSE Project

Nigeria’s Money Supply Falls to ₦119trn In May Amid CBN Tightening

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

World Bank Approves $65m Loan For Nigeria’s SPESSE Project
Lead-In

World Bank Approves $65m Loan For Nigeria’s SPESSE Project

6 days ago
Nigeria’s Money Supply Falls to ₦119trn In May Amid CBN Tightening
Lead-In

Nigeria’s Money Supply Falls to ₦119trn In May Amid CBN Tightening

6 days ago
FG Okays 37 New Oil Routes To Halt Theft
Lead-In

FG Okays 37 New Oil Routes To Halt Theft

6 days ago
Nigeria’s Power Generation Rises By 10.92 % In Q1 2025
Lead-In

Nigeria’s Power Generation Rises By 10.92 % In Q1 2025

6 days ago
Foreign Artisans Taking Over Local Jobs
Cover

Foreign Artisans Taking Over Local Jobs

6 days ago
‘Intra-African Trade To Hit $440bn By 2035 With Full AfCFTA’
Lead-In

‘Intra-African Trade To Hit $440bn By 2035 With Full AfCFTA’

2 weeks 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

Trump Cryptocurrency Drops Amid US Tariff Backlash

Trump Threatens 10% Tariff On Countries Aligning With BRICS

July 7, 2025
China Hits US With Retaliatory Tariffs, Launches Probe Into Google Practices

China Responds To Trump’s Tariff Threat Against BRICS-Aligned Countries

July 7, 2025
CBN Unveils New Liquidity Instruments For NIFIs

CBN Clarifies BVN Fee For Nigerians In Diaspora

July 7, 2025
Labour Institute’s DG Hails Tinubu On Rights Protection, Nigeria First Policy

Fiscal Governance Lifeblood Of National Development— Tinubu

July 7, 2025
Labour Institute’s DG Hails Tinubu On Rights Protection, Nigeria First Policy

At BRICS Summit,Tinubu Demands Reform Of Global Financial, Health Systems

July 7, 2025
LG Launches “Radio Optimism” Campaign

LG Launches “Radio Optimism” Campaign

July 7, 2025
Are Africans Genetically Inferior?

Are Africans Genetically Inferior?

July 7, 2025
Jaiz Bank Lifts NYSC Camp Spirit With Thrilling Football Match

Jaiz Bank Lifts NYSC Camp Spirit With Thrilling Football Match

July 7, 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