Home Business Weak policies threatening Nigeria’s N2.5trn blue economy –Experts
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Weak policies threatening Nigeria’s N2.5trn blue economy –Experts

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By Steve Agbota

Maritime industry experts have cautioned that Nigeria risks squandering its estimated N2.5 trillion blue economy potential if urgent reforms are not implemented.

Speaking at a high-level executive media training hosted by the International Maritime Institute of Nigeria (IMION), the experts stressed the need for a unified policy framework, stronger institutions and deliberate efforts to overcome the country’s long-standing “sea blindness.”

They urged the federal government to prioritise the maritime sector as a key driver of national development rather than treating it as an afterthought.

While delivering a paper titled: “Frameworks and Policies for Sustainability in the Blue Economy,” a maritime lawyer and Senior Advocate of Nigeria, Mrs. Funke Agbor, called attention to the nation’s failure to capitalise on its strategic location and maritime assets.

She noted that regulatory overlaps, weak enforcement, and poor infrastructure continue to derail Nigeria’s ability to benefit from its coastal and ocean resources.

“Our maritime potential is enormous, but it is being lost to institutional fragmentation and a lack of clear policy direction. Without a strong and enforceable framework, our blue economy efforts will remain nothing more than wishful thinking,” Agbor said.

Also speaking at the session was Rear Admiral (Dr.) FD Akpan (Rtd), who emphasised that despite the establishment of the Ministry of Marine and Blue Economy in 2023, Nigeria’s progress remains pedestrian and disconnected from global trends.

“Nigeria’s blue economy efforts remain stuck at a subsistence level comparable to what our ancestors did while the rest of the world advances with technology, innovation, and private sector investment,” he said.

He warned of widespread sea blindness, a term describing the lack of public and governmental appreciation for the value of the maritime domain.

He pointed to underutilised assets such as Nigeria’s 420 nautical miles of coastline, its 200-nautical-mile exclusive economic zone (EEZ), and extensive inland waterways. He stressed that without bold investments in port infrastructure, fisheries regulation, renewable energy, and maritime security, the country’s blue economy ambitions could remain a paper policy.

Agbor and Akpan both cited the need for Nigeria’s blue economy governance to be aligned with global frameworks like UNCLOS, MARPOL, STCW, and SOLAS while fully leveraging domestic laws such as the Cabotage Act, NIMASA Act, and the Petroleum Industry Act (PIA).

They expressed cautious optimism about Nigeria’s newly launched 10-year Blue Economy Policy (2025–2034), which aims to attract $2 billion in offshore renewable energy investment and create three million jobs.

But they warned that these targets would be meaningless without execution, oversight, and inclusive stakeholder engagement—especially with coastal communities and indigenous workers.

On the security front, Akpan acknowledged that while Nigeria has made strides such as its removal from the global piracy list in 2022, the threats of sea robbery, oil theft, and illegal fishing persist across the inland waters of the Niger Delta.

He called for tighter coordination between the Nigerian Navy, NIMASA, and other security agencies, alongside wider deployment of surveillance tools like Falcon Eye and maritime drones.

Speaking earlier, in his welcome remarks, the Director General of IMION, Rear Admiral Thaddeus Udofia (Rtd), said the training was designed to reaffirm the indispensable role of the media in shaping public perception, driving accountability, and catalysing change within the ocean space.

“The stories you tell, the facts you report, and the perspectives you elevate will be instrumental in informing public discourse, influencing policy, and inspiring responsible stewardship of our marine resources. Your work is not just journalism, it is advocacy, it is education, and it is nation-building,” Udofia said.

He encouraged media professionals to deepen collaborations and remain passionate advocates for a sustainable blue economy not just for Nigeria, but for the entire Gulf of Guinea region.



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