Get Guardian on GoogleOrganisers of the Niger Delta Blue Economy Investment Summit have announced plans to attract more than $600 million in investment capital to the region’s blue economy, with the second edition of the event scheduled to take place in Warri, Delta State, from March 18 to 20, 2027.
The three-day summit, billed to hold at Movela Hotels, will focus on developing commercially viable projects and exploring financing mechanisms capable of supporting investment in the region’s marine and water-related economic activities.
Co-convener of the summit, Dr Uche Igwe, disclosed the plans during an interaction with journalists, saying the organisers intend to move beyond discussions about investment opportunities towards identifying projects that can secure funding and proceed to implementation.
According to him, the event will bring together representatives of government, the organised private sector, academia, civil society, traditional institutions and community organisations from across the Niger Delta and other parts of the country.
Igwe said the second edition would build on the inaugural summit held in February, particularly through efforts to strengthen partnerships and develop an investment pipeline for the region.
Igwe explained that the organisers had established relationships with partners interested in the Niger Delta’s economic potential.
He said some projects had already been identified as potentially feasible, but further work was required to develop them into proposals capable of attracting investment.
“Since our maiden edition last February, a lot has been achieved. We now have partners who understand our region and who have identified several feasible projects,” he said.
According to him, the next priority is to improve the financial and commercial readiness of those projects.
“It is now time to go to the next level of ensuring that such projects are made bankable and the necessary funds required are mobilised to ensure that projects leave the drawing table and hit the ground running,” Igwe added.
A major focus of the March summit will be the potential use of innovative financing instruments, including blue bonds.
Igwe said the organisers wanted to examine how such mechanisms could support investment in the Niger Delta’s blue economy.
“The most exciting part of our second summit is its focus on how investment pipelines can leverage innovative funding mechanisms, including blue bonds,” he said.
Blue bonds are financing instruments generally associated with raising capital for projects linked to sustainable ocean and water-resource management.
Depending on their structure, they may be used to support activities such as marine conservation, sustainable fisheries, water-related infrastructure and other eligible investments.
However, the availability of blue bonds does not automatically make a proposed project suitable for financing.
Investors typically require clear information about how funds will be used, the expected financial returns, repayment arrangements and the environmental or social outcomes associated with the investment.
Projects may also need to satisfy applicable regulatory and reporting requirements.
The summit organisers have not indicated whether a specific blue bond issuance is being prepared or whether discussions will focus on the instrument’s potential application in the region.
Igwe expressed optimism that the relationships and project discussions developed through the summit could eventually attract substantial capital.
“With the feedback we have got so far, more than $600 million of investment capital will enter the blue economy sector through our modest efforts,” he said.
Igwe also commended the Delta State Government under Governor Sheriff Oborevwori for what he described as efforts to create an enabling environment for investment.
He said the state’s approach could support the development of projects associated with the blue economy.
“We are happy that Delta State, under the leadership of the state governor, His Excellency Elder Sheriff Oborevwori, is leading the way by providing the enabling environment,” he said.
Warri’s selection as host city places the event within a region where waterways, coastal communities and maritime activities form part of the local economy.
The summit is expected to provide a forum for discussing how these resources could support investment and economic diversification.
Also speaking ahead of the event, Senior Consultant at Gadfly Consulting Limited, Philemon Oghenedoro Adjekuko, called for greater cooperation among government agencies, investors and other stakeholders.
Adjekuko linked the development of Nigeria’s blue economy to broader efforts to expand economic activity beyond the oil sector.
He said improved coordination would be necessary to translate policy discussions and project proposals into investments.
According to him, the sector could contribute to Nigeria’s ambition of building a $1 trillion economy by 2030.
However, the scale of that contribution would depend on the nature of the investments, their implementation and the economic activities they generate.
Adjekuko said he had spent the previous three months engaging stakeholders as part of a study on blue finance.
He expressed optimism that the Warri summit would help advance discussions about financing opportunities.
“I am really looking forward to our event in Warri and believe strongly that project conversations can move quickly towards impactful deals for our region and country,” he said.
