Nigeria is ramping up efforts to become a major force in the global maritime sector, with a strong focus on unlocking opportunities within the blue economy valued at over $3 trillion annually.
This formed the core of discussions at the Blue Economy Investment Summit held in Abuja, bringing together policymakers, investors and industry leaders.
Speaking at the event, Minister of Marine and Blue Economy, Gboyega Oyetola, said Nigeria’s vast coastline, inland waterways and strategic location along the Gulf of Guinea position it to lead in maritime trade, innovation and sustainable development.
He noted that a newly developed national policy is now in place to guide investments in the sector.
Oyetola also highlighted progress in maritime security through the Deep Blue Project, which he said has boosted investor confidence.
He added that Nigeria’s recent return to the International Maritime Organisation Council after 14 years signals renewed global relevance.
Industry players echoed optimism about Nigeria’s potential.
The Chief Executive Officer of APM Terminals, Fredrik Klinke, described the country as strategically positioned to drive Africa’s blue economy expansion, while stakeholders pointed to strong investor interest in the sector.
However, concerns over structural bottlenecks remain. Executive Secretary of the Nigerian Shippers’ Council, Pius Akutah, warned that poor maritime connectivity could hinder trade under the African Continental Free Trade Area.
Similarly, Maritime Innovations Hub convener, Ronke Kosoko, stressed that bureaucratic delays and weak coordination continue to stall projects despite available capital and investor readiness.