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By Eze Ezinma
For quite some time, and until the All Progressives Congress (APC) took the reins of governance at the Federal level, available economic opportunities and potentials of the marine and coastal areas of the country, beyond oil and gas, had never been on the front burner of economic sustainability. Now referred to as the Marine and Blue Econony, Nigeria is blessed with economic resources linked to rivers, streams, coastal and ocean environments.
The resources available in the blue economy are almost untapped. Many scholars have argued that ignorance of the resources in the oceans and coastal areas as the principal factor. The water covers 80 per cent of the entire earth while the land covers a small area of 20 per cent. This is also relates to the extent of opportunities they hold. The resource, opportunities and potentials in the water and coastal areas are far above what is in the land.
The Blue Economy is the gateway to economic liberation for states in Nigeria. However, there is a growing insight in the opportunities inherent in this area. Economic downturn is triggering governments to start looking at these opportunities in the marine corridors for development.
This desire led President Tinubu administration to create the Ministry of Marine and Blue Economy in 2023. Following in the footsteps of the Federal Government, two states, Benue and Bayelsa, have created Ministry of Marine and Blue Economy. Delta State has constituted a technical committee on blue economy. However, many states are still struggling to understand the concept.
The experts valued the global blue economy to evolve around 3-6 trillion dollars years. In the Africa, the Blue Economy supports 49 million jobs and contributes about $300 billion. It is a sector that can help reduce youth unemployment, create wealth with equal gender participation in Nigeria.
If the federal, state and local governments would pay serious attention to the economic and development opportunities in the coastal regions, then we are set to have a resilient and super growing economy.
To harvest the benefits and emerging economic opportunities in the coastal environment, there must be conscious efforts to blend political will and intentional actions for positive and quick outcomes by the authorities.
The coastal economic potential differs from communities and states therefore the stakeholders in the respective locations need to come together to identify the potentials in various states. Suffice it to say that a robust blue economy needs to be triggered, developed and functionalized. It does not happen by wishful thinking. The first step a determined authority must take is to develop policy on marine and coastal opportunities to drive the programmes. The importance of the policy is to provide comprehensive framework for sustainable exploitation, conservation and governance of the coastal and marine resources
The common and known blue economy and marine activities are water transportation, fishing, sand, gravel production. However, there is more to this. An active and functional blue economy will reduce crime rate, unplanned youth migration, gender based violence and reduce impact of climate change. A developed blue economy will promote SME activities and local economic development. The available SME opportunities include boat construction and repair, fishing/supply chain and production fishing inputs and marketing, construction of jetties, etc. The fishing sub-sector of the marine economy sets the agenda for the economic discussion and gives clear insight to the opportunities. For instance, Nigeria’s annual fish importation in 2025 was over N1.6 trillion, thus placing the country as one of the major importers of fish in the world. Nigeria can only produce 50 per cent of her domestic consumption. Categorically, some states alone have the natural potential to produce the additional 30 per cent of local fish needs of Nigeria, if activated.
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One of the key benefits of developing the marine economy is its huge potential to create various levels of employment, wealth and strengthen food security, increase tourism opportunities, address the problem of poverty and malnutrition even beyond the coastal communities. Though the impact of developed blue economy to the local coastal communities is not quantified, it is an indisputable fact that the internally generated revenue of local governments within the marine economy catchment area would rise geometrically.
Based on the foregoing benefits, there is a compelling need for the authorities to move swiftly to explore these massive opportunities. The economic potentials of the marine sector could be likened to the proverbial talent buried in the ground or best described as unused abundant blessings. Developing the marine and blue economy sector will be a catalyst and sure path to local and state economic growth, transformation and prosperity.
The blue economy creates sustainable opportunities for economic diversification and growth in aquaculture, energy, offshore mining. The ocean economy includes laws, insurance, education etc.
The challenge and gap of manpower has become a drawback in marine economy expansion. Growth could be adequately addressed through the school curriculum, training and introduction of relevant coastal and marine technical and academic courses in the tertiary institutions.
The private sector can only drive the marine and coastal economic sector when the government stimulates the sector, importantly with clear policy direction and infrastructural investment in the sector.
Typically, donors and development partners prefer the state or communities to take a lead before they could come to support. All that the authority should do is to take a policy stand, which demonstrates commitment and ambition.
Quite a number of states in Nigeria are fortunate to have rich coastal and marine corridors just as some have rivers and streams. Such are in a vantage position to harness these opportunities.
To achieve full success in having an active and kinetic blue economy the media input and legislative engagement is not only compelling but crucial and fundamental.
• Ezinma, a public affairs analyst, community development strategist and Senior Program Manager at CHIRN, writes from Umuahia, Abia State.
