Nigeria’s contribution of less than 15 per cent to the regional maritime economy, despite its huge potential, has underscored the urgent need for public–private partnership (PPP) to unlock the country’s N22.12 trillion blue economy potential.
This was the submission at the Association of Maritime Journalists of Nigeria (AMJON) 2025 Yearly Conference and Awards held in Lagos.
Head of Research, Sea Empowerment and Research Centre (SEREC), Dr Eugene Nweke, said the blue economy represents the sustainable use of ocean resources for economic growth, improved livelihoods and job creation, contributing over $2.5 trillion globally each year and supports more than 350 million jobs.
He said the PPS extends beyond conventional PPP arrangements, as it embodies a developmental alliance where government, private investors, academia and communities share responsibility for co-creating, co-financing and co-monitoring blue economy initiatives.
Nweke highlighted Nigeria’s untapped value chains, which include the 2.1 million-tonne deficit of local fish production worth $1 billion in imports, noting that PPS in aquaculture, cold-chain logistics and fish processing can bridge the gap and create 500,000 jobs.
He suggested that an integrated port automation and multimodal connectivity system that will handle the 70 million metric tonnes of cargo that pass through the nation’s ports yearly could save Nigeria up to N3 trillion annually in trade costs.
Nweke said while only five per cent of Nigeria’s coastline is harnessed for tourism, developing marine leisure and cruise projects can yield about $3 billion yearly (N4.13 trillion using N1,471.04/$).
He pointed out that offshore gas, renewables and seabed minerals could also add $10 billion yearly (N14.7 trillion) if sustainably developed through PPPs.
Nweke added that sustainable barge operations could create 150,000 new jobs, decongest ports by 50 per cent and open up inland industrial growth corridors.
Citing industry data, he said Mauritius increased blue economy GDP share from 10 per cent in 2015 to 19 per cent in 2022 through PPPs in fisheries and tourism, while Ghana’s Takoradi Port PPP attracted $350 million in private capital, doubling throughput and cutting public cost by half.
Nweke recommended strategic pathways for Nigeria, including the establishment of a National Blue Economy Council (NBEC) chaired by the Vice President, making PPPs the default approach for all marine infrastructure projects, and enacting a Blue Economy Investment Code that integrates environmental, fiscal and industrial incentives.
He also suggested operationalising the National Maritime Data Repository (NMDR), institutionalising the Public–Private Blue Economy Roundtables (PBBIR) for quarterly policy and investment reviews, as well as integrating the Ajaokuta steel, inland mining and intermodal logistics into national blue economy planning.
Chairman of the Senate Committee on Marine Transport, Wasiu Eshilokun, emphasised infrastructure development, calling for the modernisation of existing ports and the development of new deep-sea ports to increase efficiency and handle larger volumes of cargo.
On sectoral and sustainable development, Eshilokun called for the implementation of sustainable fisheries practices, enhancing aquaculture production through modern technology and research, and supporting local content and youth participation in the sector to enhance food security and provide livelihoods.
He also called for investments in marine renewable energy, biotechnology and deep-sea mining, as well as strengthening the legal and judicial framework to support maritime trade and resolve disputes efficiently.
