As the maritime tourism industry, valued at over $6.45 trillion, emerges as a key opportunity for nations with vast coastlines and rich cultural heritage to boost economic growth, Nigeria’s sector remains largely underdeveloped. Unlocking its full potential will require a clear development roadmap, ADAKU ONYENUCHEYA reports.
Nigeria’s extensive coastline and abundant aquatic biodiversity present a significant opportunity for investment in maritime tourism, a sector valued at $6.45 trillion globally and known for driving substantial revenue and economic growth. However, the potential remains largely underutilised.
According to the International Ocean Institute (IOI), Nigeria ranks among the lowest African countries on the global maritime tourism index, despite its abundant coastal assets and natural endowments.
Nigeria’s vast maritime tourism potential offers everything, from pristine beaches to centuries-old seafaring traditions, with coastal areas such as Lagos, Calabar and Delta already popular among domestic tourists.
Destinations such as Tarkwa Bay, known for its serene environment, continue to attract local and international visitors yearly. Yet, other culturally significant locations, like Bonny Island, where some of the first seafaring vessels docked, remain underutilised in promoting heritage-based maritime tourism.
Experts argue that with the right investment, a well-structured maritime tourism industry could generate substantial revenue, create thousands of jobs and stimulate economic growth.
They further noted that maritime tourism, under the emerging Marine and Blue Economy framework, could play a pivotal role in driving economic diversification and reducing the country’s dependence on oil.
Still, industry stakeholders maintain that with coordinated efforts, strategic investments in infrastructure, clear regulatory frameworks and active community participation, Nigeria can transform into a regional maritime tourism hub in West Africa.
Investment Opportunities
To fully unlock these resources, the government and stakeholders must recognise that maritime tourism extends beyond scenic views as it encompasses a wide array of services, including cruises, recreational boating, eco-tourism ventures and specialised maritime education and training.
Among the top opportunities is the development of luxury cruises and coastal boat tours, requiring capital between $500,000 and $5 million for purchasing boats, maintenance, staffing, and marketing.
The Dean of Faculty at City University, Cambodia, Prof. Alfred Oniye, said with expected profit margins of 30 to 50 per cent, investors can tap into Nigeria’s scenic coastal routes, offering premium cruise experiences for relaxation and adventure with high tourist demand.
Water sports and recreational activities such as jet skiing, scuba diving, fishing expeditions and parasailing also present high-yield ventures. Oniye said with a modest investment of $100,000 to $500,000 for equipment, safety measures, and training, these businesses could see profit margins ranging from 40 to 60 per cent, driven by demand from both domestic thrill-seekers and international tourists as well as boost tourism revenue.
Eco-tourism and marine conservation parks offer not just financial returns estimated at 25 to 40 per cent, but also long-term sustainability benefits and government incentives, according to Oniye.
He said with an investment range of $1 million to $10 million for infrastructure, conservation efforts and marketing, Nigeria’s vast marine biodiversity can be harnessed for underwater exploration, conservation parks and guided tours.
Further up the investment ladder are resorts and beachfront properties, with capital requirements ranging from $5 million to $50 million for land acquisition, construction and amenities.
Despite the higher initial cost, Oniye said profit margins of 20 to 35 per cent make this sector appealing for investors as luxury tourism attracts high-spending visitors.
“High-end resorts along Nigeria’s coastline can cater to premium vacation experiences, driving foreign exchange earnings,” he stated. Additionally, Oniye highlights Nigeria’s rich maritime history as an underutilised cultural asset.
He said maritime museums, cultural festivals and heritage tour creating a unique niche in tourism, could attract cultural tourists and diaspora visitors, with investment needs from $200,000 to $2 million for museums, exhibitions, and cultural events as well as returns of 30 to 45 per cent.
Oniye said that the global ocean economy is estimated at $20 trillion, encompassing industries from shipping and fisheries to renewable energy and pharmaceuticals. Marine tourism forms a significant part of this value chain if properly developed and could boost the nation’s GDP.
Already, local vessel operators are tapping into the sector, as more Nigerians celebrate events with boat cruises. Many now rent boats for birthdays, wedding engagements, and social hangouts, with rental costs averaging around N280,000 per event.
Even the Lagos State Waterways Authority (LASWA) reported facilitating the movement of over 300 guests via the waterways, deploying 10 Omnibus 45-seater boats to transport attendees from Wings Tower to Koko Beach Hotel and Resort for the National Tourism Summit recently.
Challenges and Barriers
The sector has been grappling with challenges including inadequate infrastructure, inconsistent policies and persistent security concerns. Many of Nigeria’s coastal regions, despite their natural beauty, lack basic amenities such as clean and safe public restrooms, quality hotels and reliable transportation to and from these destinations.
Additionally, maritime security remains a primary concern for both local and international tourists. Piracy and theft, while largely targeted at commercial vessels, continue to create negative perceptions of Nigeria’s maritime sector, deterring potential visitors.
The Bonny Island axis in Rivers State has become a hotspot for sea robbers, who frequently attack boats, abduct all the passengers and make away with goods and property worth millions of naira.
The Head of Research, Sea Empowerment and Research Center (SEREC), Dr. Eugene Nweke, said the sector faces challenges such as lack of infrastructure, inconsistent policies, regulatory framework and security concerns.
He said that without a robust regulatory framework and incentives for private investors, the industry risks remaining stagnant or being poorly managed, undermining the long-term potential for economic growth.
Lessons from Excelling Abroad
Several countries have successfully harnessed their coastal resources to build a thriving maritime tourism sector. The governments of these nations set the benchmark by investing in infrastructure, including marinas, transport systems, and accommodations and promoting policies for environmental sustainability and safety, while offering unique experiences to both locals and international tourists.
The Bahamas, with over 700 islands and cays, has a robust cruise tourism industry, drawing millions of visitors each year through strategic partnerships with major cruise lines.
The Bahamas also champions sustainable tourism by promoting ecofriendly boating and protecting coral reefs, while its capital, Nassau, is now a bustling maritime hub known for its resorts, beaches and cultural attractions.
Norway’s maritime tourism stands out for its year-round appeal. The country’s winter cruises offer tourists a chance to witness the Northern Lights, while summer voyages provide views of the midnight sun.
Greece, meanwhile, connects visitors to its world-famous islands—Mykonos, Santorini, and Crete, through an integrated system of ferries, yacht charters and cruise ships.
The country’s continued investment in port and ferry infrastructure supports sustainable tourism growth. Singapore has built a vibrant cruise sector anchored by its world-class port. The city-state serves as a major stop for international cruise liners and offers visitors yacht charters, waterfront dining and eco-friendly boat tours to nearby islands like Sentosa and Pulau Ubin.
South Africa capitalises on its dramatic coastlines along the Atlantic and Indian Oceans. Activities such as whale watching, sailing, diving and visits to iconic coastal sites like the Garden Route and Cape of Good Hope make it a compelling destination for maritime tourists.
In the Indian Ocean, Mauritius offers pristine waters, coral reefs, and luxury resorts. Renowned for its beach tourism and water sports, Mauritius also supports cruise tourism, with an increasing number of international liners making port calls.
In the Gulf, Qatar is positioning itself as a leading maritime tourism destination. Doha has become a hub for luxury yachts, dhow cruises, and water sports, underpinned by significant investments in marinas, cruise terminals, and waterfront resorts.
Events like the Qatar International Boat Show reflect the country’s commitment to developing this sector. Dubai evolved from a modest port city into a global maritime tourism leader. The country’s Cruise Terminal at Port Rashid ranks among the world’s busiest, while the city offers luxury yacht services, world-class marinas and a wide range of water sports.
Iconic attractions like Atlantis the Palm, underwater hotels and floating restaurants highlight Dubai’s innovation in maritime tourism. Nigeria, blessed with an extensive coastline and rich cultural heritage, can learn from these successful models. With strategic planning and investment tailored to its unique assets, the country has the potential to emerge as a major maritime tourism destination in West Africa.
Roadmap for development
To realise the sector’s full potential, Oniye recommended strategic frameworks such as Public-Private Partnerships (PPPs) with key government agencies like the Nigerian Maritime Administration and Safety Agency (NIMASA), National Inland Waterways Authority (NIWA) and the Nigerian Ports Authority (NPA). He also highlighted infrastructure development, including investments in ports, marinas, jetties and an improved coastal transport system, to increase accessibility and attract more tourists.
Oniye also emphasised the importance of strong branding, digital marketing and international tourism expos, to position Nigeria as a competitive destination in the global marine tourism market. He further advocated for sustainability initiatives to preserve marine ecosystems, ensure responsible tourism practices and maintain long-term profitability.
Nweke said Nigeria can become a major player in the over $6.45 trillion global maritime tourism industry by investing in modern ports, marinas and recreational facilities, and promoting public-private partnerships to develop maritime tourism projects.
Others include enhancing maritime safety and security to attract tourists and investors, developing coastal communities to benefit from tourism development and fostering multi-sectoral collaboration involving government agencies, private investors and local communities.
Nweke emphasised that the Ministry of Marine and Blue Economy must demonstrate strong political will to ensure the swift ratification, approval and implementation of the final Marine and Blue Economy Development Policy to address these gaps.
A former Director-General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Dr. Bashir Jamoh, during his tenure, acknowledged that while Nigeria was performing well in the tourism sector, the marine tourism component remained significantly underdeveloped compared to other economies around the world.
He emphasised that a well-managed tourism sector can support conservation efforts, contribute to sustainable development and provide income opportunities as well as an improved quality of life.
Jamoh stressed the need for stakeholders to support all government initiatives and policy statements aimed at preservingNigeria’s biodiversity, maritime ecosystem, and other natural endowments, which he described as valuable assets for marine tourism development.
He suggested that this could be achieved by closing infrastructural gaps and linking coastal cities through the development of transportation networks, while utilising the connecting waterways as tourist attractions.
