By Seun Ibiyemi
The Nigerian Exchange Limited (NGX) has reaffirmed its commitment to providing sustainable financing solutions critical for driving the growth of Nigeria’s burgeoning marine and blue economy, which is estimated to be worth over $296 billion.
Speaking at the 3rd Quarter Citizens’ and Stakeholders’ Engagement of the Ministry of Marine and Blue Economy in Lagos, NGX Chief Executive Officer, Mr. Jude Chiemeka, emphasized that the capital market is perfectly positioned to mobilize the long-term funds required to transform the sector.
In his paper titled “Marine and Blue Economy Development: Alternative Sustainable Financing Option,” Chiemeka highlighted the importance of innovative instruments such as sustainability-linked loans, blended finance, blue bonds, and impact investments.
These methods, he explained, are essential for funding critical projects like port modernization, maritime security, aquaculture, renewable energy, and marine tourism. Chiemeka concluded that the capital market can play a pivotal role in raising sustainable funding that aligns with Nigeria’s blue economy vision while ensuring investor confidence and transparency.
Earlier, the Minister of Marine and Blue Economy, Mr. Adegboyega Oyetola, underscored the urgency of adopting new financing models, noting that traditional approaches are inadequate for unlocking the sector’s full potential.
He stated that while the government’s National Policy on Marine and Blue Economy, approved in May 2025, provides a roadmap, mobilizing capital remains paramount. Oyetola stressed that the government alone cannot shoulder the responsibility of modernization and security, calling for robust private-sector engagement and international financing mechanisms.
The Permanent Secretary of the Ministry, Mr. Olufemi Oloruntola, further called for the establishment of a dedicated Blue Economy Fund and the adoption of green and blue financing instruments to de-risk private participation.