The federal government has unveiled plans to achieve a seven per cent yearly growth in the marine and blue economy sector while creating 100,000 new jobs each year, amounting to at least one million direct and indirect jobs by 2034.

The government, in its new National Policy on Marine and Blue Economy, stated that the initiative aligns with the Blue Economy Vision 2034 and the Renewed Hope Agenda, which outline key objectives centred on sectoral growth, investment promotion, job creation and environmental sustainability

According to the document, the yearly growth will be driven by creating an enabling environment for private-sector investment, accelerating legislative reforms and domesticating key international maritime conventions and protocols.

The policy document stated that the existing service operations at offshore terminals, seaports, and inland waterways will be overhauled for more efficient delivery, while infrastructure capacity will also be significantly expanded to support increased investment inflows.

“A strong investment promotion drive will therefore be put in place to drive investments in infrastructure upgrade through PPPs, and in various business enterprises along the blue economy value chain. The investment promotion effort will focus on priority sectors covering both existing and emerging industries of the blue economy,” the document stated.

A robust investment promotion drive is expected to be launched, focusing on key value chain areas such as fisheries, aquaculture, shipbuilding, marine tourism, logistics and renewable ocean energy.

Also, public-private partnerships (PPPs) are expected to feature prominently, especially in infrastructure modernisation efforts such as port rehabilitation, cold chain logistics and vessel acquisition.

However, job opportunities will span construction work for new port facilities, crewing for locally owned shipping lines, and technical roles in new fish storage and distribution centres to be established nationwide.

The policy places a strong emphasis on inclusivity, aiming for 50 per cent of the newly created jobs to be taken up by youths aged 18–35, with 70 per cent to be reserved for women and people with special needs.

President Bola Ahmed Tinubu, in the policy statement, reaffirmed his administration’s commitment to harnessing the country’s vast marine and blue economy resources as a critical pathway for economic diversification and job creation.

Tinubu pointed out that the country’s marine wealth has a direct bearing on national priorities such as reducing unemployment, tackling poverty and responding to the climate crisis.

The President described the marine assets as a “vital national asset” that supports livelihoods, enhances food security, and drives economic progress.

“With a coastline stretching approximately 853 kilometres and a vast Exclusive Economic Zone (EEZ), Nigeria’s marine ecosystems are endowed with rich biodiversity and immense potential across sectors such as fisheries, aquaculture, shipping, tourism, and renewable energy,” Tinubu stated.

Tinubu stated that the policy outlines a comprehensive approach to sustainable fisheries, marine tourism, renewable energy, maritime trade, and biodiversity conservation, adding that it encourages the integration of science, technology, and innovation for balanced and inclusive development.