Experts have called on state governments across Nigeria to adopt and implement comprehensive blue economy policies, describing the sector as a key driver of sustainable economic growth, investment and job creation.
The stakeholders said Nigeria’s vast coastal and inland water resources remain largely untapped despite their enormous potential to support fisheries, aquaculture, maritime transportation, tourism, renewable energy and other water based industries capable of boosting state economies.
According to the experts, the blue economy provides a strategic opportunity for states to diversify their revenue base, strengthen food security and stimulate inclusive economic development while ensuring the sustainable management of aquatic resources.
They urged state governments to develop clear policy frameworks that encourage investment, improve infrastructure and strengthen institutions responsible for managing maritime and inland water resources. Such measures, they noted, would enhance investor confidence and create an enabling environment for private sector participation.
The stakeholders also stressed the importance of collaboration among governments, development partners, research institutions and the private sector to accelerate innovation, build technical capacity and unlock the full economic potential of the sector.
While highlighting the opportunities within the blue economy, they acknowledged that inadequate infrastructure, weak policy implementation, environmental degradation, illegal fishing and limited access to financing continue to hinder growth. Addressing these challenges, they said, would require sustained investment, regulatory reforms and effective governance.
As Nigeria continues to pursue economic diversification, experts believe greater commitment by state governments to the blue economy will not only expand employment opportunities and increase internally generated revenue but also position the country to benefit from the growing global demand for sustainable ocean and inland water based industries.
They maintained that embracing the blue economy is essential to achieving long term economic resilience and ensuring that the country’s abundant water resources contribute meaningfully to national development.
SOURCE: PUNCH
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