Nigeria’s Blue Economy holds immense promise
When President Bola Ahmed Tinubu inaugurated the Ministry of Marine and Blue Economy in August 2023, shortly after assuming office, the announcement was met with curiosity by many Nigerians who were unfamiliar with the concept and its potential significance.
The President went on to appoint Hon. Adegboyega Oyetola as the first Minister to oversee this newly established ministry, tasked with guiding its development and shaping its strategic direction.
While progress has been made in laying the groundwork, it is fair to say that Nigeria is yet to fully begin reaping the rewards of this important initiative. Although the blue economy may be a relatively new policy focus in Nigeria, the concept itself has been part of global economic thinking for over a decade, having first been introduced in 2010 by Gunter Pauli of Brazil — a country that has since taken meaningful steps to leverage the model.
In Nigeria, many experts agree that the blue economy remains a largely untapped opportunity. For some observers, it is understandably viewed as a long-term endeavour still in development. Nonetheless, there is growing consensus that the country must do more to harness the potential that lies in its vast maritime domain.
The blue economy encompasses a wide range of ocean-related economic activities, including fisheries, aquaculture, marine transport, tourism, and renewable energy. It also includes the sustainable management of ocean resources for improved livelihoods and economic growth.
Several key agencies fall under the jurisdiction of the Ministry of Marine and Blue Economy, including the Nigerian Ports Authority (NPA), Nigerian Shippers’ Council (NSC), National Inland Waterways Authority (NIWA), Nigerian Maritime Administration and Safety Agency (NIMASA), and the Maritime Academy of Nigeria (MAN), Oron, in Akwa Ibom State.
The ministry was created with the goal of sustainably managing Nigeria’s ocean resources, generating employment, promoting environmental stewardship, and ultimately contributing to national economic growth. While these aims are ambitious, they are not out of reach — provided that the right investment, policy direction, and public-private collaboration are in place.
Nigeria’s coastal states — including Lagos, Ondo, Delta, Rivers, Akwa Ibom, and Cross River — are well positioned to benefit from the blue economy, thanks to their proximity to the Atlantic Ocean. However, experts have pointed out that many of these states are yet to develop comprehensive strategies for fully taking advantage of the economic opportunities along their coastlines.
At recent public forums and symposia, maritime scholars and stakeholders have gently urged greater attention and urgency. Speaking at a seminar organised by the Correspondents’ Chapel of the Nigeria Union of Journalists (NUJ) in Port Harcourt, Mr. Ubong Essien — a Blue Economy consultant and Dean of the School of Eloquence, as well as founder of the Blue Economy Academy — observed that despite Nigeria’s natural endowments, the country has yet to fully embrace a maritime mindset.
Mr. Essien described Nigeria as “a sea-blind nation,” not in accusation, but as a reflection on the missed opportunities that remain unaddressed. He noted that with over 850 kilometres of coastline, expansive inland waterways, rich biodiversity, and a prime maritime location in West Africa, the country is uniquely placed to become a regional leader in ocean-driven economic activities.
He particularly referenced the Niger Delta region — and Rivers State in particular — which, in his view, have yet to fully unlock the value of the sea within their territories. “People are aware of the presence of water, the coastline and marine environment,” he noted, “but there is limited visibility on the wider economic, environmental, and innovation-related benefits the ocean can offer.”
Other speakers echoed this sentiment. At the same NUJ event, Prof. Silva Opuala-Charles, President of the Garden City Premier Business School, delivered a lecture titled “Blue Economy: Starting Steps for Rivers State.” He encouraged the Niger Delta and Nigeria more broadly to move beyond dependence on oil and gas royalties, and instead invest in the long-term benefits of ocean-based economic development.
While the environmental consequences of oil exploration cannot be ignored, experts suggest that they need not permanently obstruct the development of a marine economy. Rather, they argue that with better vessels and infrastructure, fish stocks and marine life that have retreated further offshore due to pollution can still be accessed — responsibly and sustainably.
Indeed, Nigeria’s continued reliance on oil as its economic mainstay poses risks. The volatility of global oil prices — as witnessed during various geopolitical shifts in recent years — has underscored the vulnerability of mono-resource economies. Diversification is not just prudent; it is essential.
Around the world, other countries have successfully integrated blue economy strategies into their national development agendas. China and India, for instance, have developed thriving maritime sectors, including fishing industries that now export seafood to countries like Nigeria. Similarly, Europe’s maritime dominance during the colonial era was facilitated by a deep understanding and strategic use of ocean resources.
There is every reason to believe that Nigeria, too, can rise to the occasion.
Moving forward, the country must continue to invest in building capacity within its maritime institutions, craft clear and actionable policy frameworks, and work closely with subnational governments — particularly coastal states — to develop regionally tailored strategies for tapping into this vast economic frontier.
With thoughtful leadership, private sector participation, and community engagement, Nigeria has the potential to unlock enormous benefits from its blue economy. The time has come to shift from promise to action — with patience, commitment, and vision.
The oceans offer a path forward. Let us prepare ourselves to walk it wisely.
