By Stephen Ubanna
The French authorities appear to have recognized that the era of exploiting gold, uranium, diamond, and other mineral resources in the Sahel region countries of Burkina Faso, Niger, and Mali is over. As a result, they have resorted to a Plan B, focusing on the maritime sector.
As a prelude to revitalizing the country’s maritime economy, France and Costa Rica have agreed to co-host the third United Nations Ocean Conference in the city of Nice, France. The UN Ocean Conference comes barely eight years after the New York Conference in the United States.
The purpose of the ocean conference, according to informed sources, is to strengthen the protection and sustainable use of oceans, seas, and their resources. Given that oceans occupy 70% of the earth’s surface, this may have informed France’s strong support for the UN-initiated conference aimed at enhancing climate regulation, global biodiversity, and the livelihoods of billions of people through improved climate balance, oxygen production, food and energy security, and cultural and health benefits.
Marc Fonbaustier, the French Ambassador to Nigeria, appears to be acting in line with the vision of President Emmanuel Macron. Since President Bola Ahmed Tinubu assumed office on May 29, 2023, bilateral relations between Nigeria and France have grown in the economic and cultural sectors, as both nations work to strengthen their political ties unlike the 14 former French-speaking African countries that have taken bold steps to sever ties with France between 2022 and now, ending decades of exploitation of their mineral resources by French companies, often backed by successive French governments.
President Tinubu attended the New Global Financing Pact Summit on June –23, 2023, barely one week after taking office, at the invitation of President Macron. Since the summit in Paris, France which has been experiencing trade deficits over the last five years due to declining demand from its former African colonies, those countries have increasingly turned towards Russia and China for trade, moving away from dependency on French goods and services.
There is no denying that France’s recent trade deficits stem from former colonies seeking economic independence and no longer keeping 50% of their foreign exchange reserves in the French Treasury. The French government had leveraged this arrangement under the Debt Pact agreement to recover debts owed by these nations.
Fonbaustier, the French Ambassador to Nigeria, appears to have succeeded in convincing Adegboyega Oyetola, former governor of Osun State and current Minister of Marine and Blue Economy, to attend the UN Ocean Conference co-hosted by France and Costa Rica, scheduled for June 9–13, 2025.
Bolaji Akinola, Media Aide to the minister, in a statement made available to The Value News Magazine online, shows that Oyetola will lead Nigeria’s delegation to the Ocean Conference in Nice, France. The former governor, representing President Tinubu, is expected to join global political leaders, policymakers, scientists, and key stakeholders in the maritime economy to accelerate action on ocean conservation and sustainable use of ocean resources.
The Media Aide also noted that the minister will participate in events commemorating World Oceans Day on June 8, 2025, underscoring Nigeria’s commitment to global efforts aimed at addressing the urgent challenges facing the world’s oceans and coastal ecosystems.
According to insider information, the Nigerian Minister of Marine and Blue Economy stated that the global event, UNOC3, is convened under the theme: Accelerating Action and Mobilizing All Actors to Conserve and Sustainably Use the Ocean.
The theme of this year’s UNOC3 reflects the growing international consensus on the need for decisive and inclusive measures to combat ocean degradation, protect marine biodiversity, and advance the sustainable blue economy, particularly for coastal and island nations.
He emphasized that the ocean is an indispensable part of Nigeria’s national life and economy, particularly given its vast coastal resources and the strategic role of the maritime sector in global trade, transportation, security, and climate resilience.
The minister highlighted that Nigeria’s participation at UNOC3 is a clear demonstration of President Tinubu’s administration’s resolve to protect the country’s marine ecosystems while unlocking the immense potential of the blue economy for the benefit of Nigerians.
Given the importance of the UN-organized Ocean Conference, Costa Rica, as co-host will support the implementation of Sustainable Development Goal 14: Life Below Water, and is expected to give maritime nations the opportunity to present voluntary commitments and innovative solutions for ocean sustainability.
Minister Oyetola’s drive to make the marine and blue economy a major source of national revenue may have informed his plan to lead Nigeria’s delegation in engaging in high-level dialogues, expert panels, and bilateral meetings with representatives from other maritime nations within and outside Africa. These engagements aim to strengthen international cooperation and attract investments in sustainable marine infrastructure, ocean science, and coastal resilience.
The minister, who consistently highlights the Federal Government’s maritime initiatives, is expected to showcase recent reforms in marine protection, port modernization, and artisanal fisheries development.
Akinola may have captured the sentiments of the Osun-born politician when he stated that Nigeria’s participation at the UNOC3 event underscores the nation’s strategic position as a regional leader in marine governance, maritime innovation, and sustainable coastal development.
An elated Oyetola noted that the ministry and industry stakeholders are committed to aligning Nigeria’s development agenda with global best practices for sustainable ocean governance, in line with other maritime nations.
He further alluded to President Tinubu’s Renewed Hope Agenda, which emphasizes environmental sustainability and economic diversification, describing it as a bold initiative to open up the nation’s maritime sector.
