Maritime experts are saying Nigeria could generate over 22 trillion naira by actually fixing its blue economy through public-private partnerships instead of just talking about problems. Research head Eugene Nweke from the Sea Empowerment and Research Centre told a conference in Lagos that the country barely contributes 15 percent to regional maritime trade despite having massive coastal potential.
Nweke laid out ways to get there like automating ports to handle 70 million metric tons of cargo annually, which would save around 3 trillion naira in trade costs. Boosting aquaculture and cold storage could cut the billion dollars spent importing fish each year and create half a million jobs. Offshore gas reserves and seabed minerals could bring in another 14.7 trillion naira if done right.
Senate marine transport chairman Wasiu Eshilokun said lawmakers will back any reforms that close infrastructure gaps and make Nigerian ports competitive. Nweke pointed to Mauritius and Ghana as examples where similar partnerships already worked, with Ghana pulling 350 million dollars into Takoradi Port and doubling cargo throughput while cutting government costs in half.
Nweke laid out ways to get there like automating ports to handle 70 million metric tons of cargo annually, which would save around 3 trillion naira in trade costs. Boosting aquaculture and cold storage could cut the billion dollars spent importing fish each year and create half a million jobs. Offshore gas reserves and seabed minerals could bring in another 14.7 trillion naira if done right.
Senate marine transport chairman Wasiu Eshilokun said lawmakers will back any reforms that close infrastructure gaps and make Nigerian ports competitive. Nweke pointed to Mauritius and Ghana as examples where similar partnerships already worked, with Ghana pulling 350 million dollars into Takoradi Port and doubling cargo throughput while cutting government costs in half.
