‘Nigeria can unlock N22tr Blue Economy with PPP reforms’

The country could unlock over N22.12 trillion in new value across ports, fisheries, logistics and offshore resources if it adopts a coordinated, solution-oriented blueprint for reforming its blue economy through public–private partnerships (PPPs), maritime experts have said.
The call was made at the 2025 Conference of the Association of Maritime Journalists of Nigeria (AMJON) in Lagos, where stakeholders argued that Nigeria must shift from diagnosing problems to implementing clear, measurable solutions that would rapidly boost competitiveness in the regional maritime economy—where the country currently contributes less than 15 per cent despite its vast potential.
Head of Research at the Sea Empowerment and Research Centre (SEREC), Dr. Eugene Nweke, said Nigeria already has the building blocks to transform its maritime sector, but needs a functional framework that aligns government, private capital, technology providers and coastal communities.
According to him, “The PPS framework goes beyond conventional PPPs. It is a developmental alliance where government, private investors, academia and communities share responsibility for co-creating, co-financing and co-monitoring blue economy initiatives.”
Nweke outlined a suite of practical interventions that he said could swiftly reposition Nigeria’s maritime sector and unlock significant economic value. He emphasised the need for an integrated port automation and multimodal transport system capable of efficiently handling the country’s 70 million metric tonnes of annual cargo.
According to him, such a system could save the economy up to N3 trillion in yearly trade costs. He also highlighted the urgent need to expand aquaculture and cold-chain infrastructure to close Nigeria’s 2.1 million-tonne fish deficit, cut $1 billion spent annually on fish imports, and create as many as 500,000 jobs.
Beyond the ports, Nweke identified vast opportunities in tourism and offshore resources. He noted that tapping just five per cent of Nigeria’s coastline for marine leisure activities could generate $3 billion (N4.13 trillion) annually, while sustainable exploration of gas reserves, renewables and seabed minerals could add another $10 billion (N14.7 trillion) each year.
He added that establishing a national barge operations system would further strengthen the logistics chain by creating 150,000 jobs, easing port congestion by 50 per cent, and opening up new inland industrial corridors that would stimulate wider economic productivity.

Nweke said these solutions are not theoretical, adding that African countries have already achieved similar gains.
He said: “Mauritius grew its blue economy contribution from 10 per cent in 2015 to 19 per cent in 2022 through PPP-driven fisheries and tourism, while Ghana’s Takoradi Port PPP attracted $350 million, doubled throughput and slashed public-sector cost by half.”
To fast-track these opportunities, Nweke outlined a set of structural reforms designed to give Nigeria’s blue economy a coordinated and investment-friendly framework. Central to his recommendations is the establishment of a National Blue Economy Council (NBEC) chaired by the Vice President, alongside making PPPs the default model for all marine infrastructure projects.
He also called for the enactment of a Blue Economy Investment Code to harmonise environmental, fiscal and industrial incentives while operationalising the National Maritime Data Repository (NMDR) to strengthen evidence-based planning.
Nweke further proposed institutionalising quarterly Public–Private Blue Economy Roundtables (PBBIR) to assess progress, strengthen collaboration and guide policy reviews. He added that deeper integration of Ajaokuta steel, inland mining and intermodal logistics into maritime development plans would ensure a more robust value chain, supporting both industrial growth and long-term sectoral competitiveness.

Chairman of the Senate Committee on Marine Transport, Senator Wasiu Eshilokun, said the National Assembly is ready to support any reform that strengthens Nigeria’s maritime competitiveness and closes infrastructure gaps.
According to him, “We must modernise our existing ports and develop new deep-sea ports to increase efficiency and handle larger volumes of cargo.”
He also called for solution-oriented intervention in fisheries and aquaculture.
“We need sustainable fisheries practices, improved aquaculture technology and enhanced research to boost food security and create livelihoods,” he said.
Eshilokun added that Nigeria must expand investments in marine renewable energy, biotechnology and deep-sea mining, while strengthening the nation’s legal and judicial frameworks to protect maritime investments and resolve disputes faster.