President and Chief Executive of Dangote Industries Limited, Aliko Dangote, has lamented the maritime sector’s paltry contribution of three per cent to gross domestic product (GDP) despite the estimated $296 billion blue economy potential.

Dangote, who stated this at the second quarter citizen-stakeholders engagement 2026 organised by the Federal Ministry of Marine and Blue Economy in Lagos, said the country possessed natural maritime assets that place it among the world’s most endowed coastal nations.

Represented by the Managing Director of Dangote Ports Operations, Akin Omole, the business mogul said Nigeria’s coastline stretches approximately 853 kilometres along the Atlantic Ocean and encompasses a vast exclusive economic zone rich in marine biodiversity, while the country also boasts more than 70,000 square kilometres of marine and coastal ecosystems.

According to him, the country’s inland waterways, including the Rivers Niger and Benue as well as the extensive network of delta creeks, provide a natural logistics corridor linking the seaports with the hinterland.

Dangote argued that the disconnect between the country’s abundant maritime resources and the industry’s current economic performance is not due to a lack of natural endowments but rather insufficient investment, infrastructure deficits and governance shortcomings.

He stated that Nigeria continues to face a significant infrastructure deficit, with its ports remaining inefficient by global standards.

Dangote said, as a result, the country loses billions of dollars in cargo and trans-shipment traffic to neighbouring ports due to congestion, slow vessel turnaround times, and inadequate port modernisation.

He also highlighted the financing gap, noting that while Nigeria’s blue economy requires large-scale capital investment, the sector has historically been underserved by the domestic financial market.

According to Dangote, the proposed $1 billion fund for blue economy start-ups, announced ahead of the Lagos Blue Economy Investment Summit earlier in 2026, signals a positive shift.

However, the industrialist stressed that significantly greater private and multilateral capital inflows are needed to develop the sector at the pace and scale envisioned under the National Policy on Marine and Blue Economy.

“Three per cent from an 853-kilometre coastline and a maritime zone of this magnitude. The gap between what we have and what we have unlocked is not a resource problem. It is an investment, infrastructure and governance problem,” he stated.

He said the National Policy on Marine and Blue Economy relies fundamentally on private sector investment, while targeting the creation of three million jobs within its first four years of implementation, and pursuing a target of seven per cent yearly sectoral growth, and the reservation of at least 50 per cent of newly created jobs for youth aged 18–35.

Dangote urged stakeholders across the public and private sectors to intensify efforts to develop critical maritime infrastructure, strengthen governance frameworks and attract investments capable of unlocking the full economic value of Nigeria’s blue economy.

He maintained that addressing these structural challenges would enable the country to maximise its coastal and inland water resources, enhance trade and logistics efficiency, create jobs and significantly increase the maritime sector’s contribution to national economic growth.