A prominent advocate for Nigeria’s blue economy has expressed disappointment with the government’s slow progress in developing the sector, nearly two years after the creation of the Ministry of Blue Economy.
Speaking at an event, the expert emphasized the need for sensitization, advocacy, and investment in research and development to unlock the sector’s potential.
The blue economy, which encompasses aquatic resources and ecosystems, has the potential to generate significant revenue for Nigeria, rivaling that of customs services.
However, the sector is plagued by inefficiencies, corruption, and lack of infrastructure.
The expert highlighted several areas for improvement, including:
Sensitization and advocacy to raise awareness about the sector’s potential
Investment in research and development to drive innovation
Capacity building to enhance skills and expertise
Protection of aquatic ecosystems and prevention of pollution
Development of tourism infrastructure to boost revenue
The expert also criticized the government’s handling of the Cargo Defence Fund, a pool of money meant to support Nigerian shippers, which has been left idle.
The call for overhaul comes as Nigeria struggles to diversify its economy and boost revenue. With the right approach, the blue economy could be a significant contributor to the country’s growth and development .
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