LAGOS, Nigeria – September 26, 2025 – At the 2025 World Maritime Day celebration held in Lagos, Dr. Dayo Mobereola, the Director-General of the Nigerian Maritime Administration and Safety Agency (NIMASA), delivered a compelling address, urging greater private sector involvement to unlock the vast, yet significantly underfunded, potential of Nigeria’s blue economy. The event, themed “Our Ocean, Our Obligation, Our Opportunity,” brought together stakeholders from across the maritime industry to reflect on the critical role of the oceans in global and national development. Dr. Mobereola’s speech underscored the urgent need for collective action to sustainably harness the ocean’s resources while addressing pressing environmental and economic challenges.
The Global and National Significance of Oceans
Oceans, covering approximately 71% of the Earth’s surface, are indispensable to human survival and global ecosystems. They serve as the backbone of international trade, support nearly three billion livelihoods worldwide, and play a pivotal role in climate regulation, oxygen production, and biodiversity preservation. For a coastal nation like Nigeria, the ocean’s importance is even more pronounced. Dr. Mobereola described Nigeria’s maritime domain as the “lifeblood of the nation,” acting as the gateway for over 80% of the country’s trade. Nigeria’s Exclusive Economic Zone (EEZ), spanning 200 nautical miles from its coastline, is a treasure trove of resources, including fisheries, oil and gas reserves, and untapped renewable energy potential.
The ocean’s role extends beyond economics. It is a critical component of Nigeria’s cultural heritage and environmental stability. Coastal communities depend on marine ecosystems for their livelihoods, while the ocean’s health directly impacts food security, climate resilience, and biodiversity. However, these ecosystems face mounting threats from pollution, overfishing, and climate change, necessitating immediate and coordinated action.
Nigeria’s Obligation: Environmental Stewardship and Maritime Safety
Dr. Mobereola emphasized that Nigeria’s primary obligation lies in ensuring environmental stewardship, maritime safety, and security. The country has made strides in addressing these challenges, particularly through its commitment to international frameworks such as those set by the International Maritime Organization (IMO). Nigeria’s Marine Litter and Plastic Action Plan is a cornerstone of its efforts to combat marine pollution, particularly the scourge of plastic waste, which threatens marine life and coastal ecosystems. The plan aligns with global goals to reduce marine litter and promote sustainable waste management practices.
In addition to environmental efforts, Nigeria has prioritized maritime safety and security, recognizing their importance to both national and regional stability. The Deep Blue Project, a flagship initiative launched to enhance security in Nigerian waters and the Gulf of Guinea, has been a resounding success. Dr. Mobereola hailed the project as a “game changer,” noting its significant impact in reducing piracy, illegal fishing, and other maritime crimes. The Gulf of Guinea, once notorious for piracy, has seen a marked improvement in security, thanks to the deployment of advanced surveillance systems, patrol vessels, and coordinated efforts between NIMASA, the Nigerian Navy, and international partners.
The Deep Blue Project has not only bolstered Nigeria’s maritime security but also restored confidence among international shipping companies, encouraging increased trade through Nigerian ports. This success underscores the importance of sustained investment in maritime infrastructure and security to unlock the full potential of Nigeria’s blue economy.
The Blue Economy: A Reservoir of Opportunities
The blue economy, encompassing all economic activities related to oceans, seas, and coastal areas, holds immense promise for Nigeria’s development. Dr. Mobereola highlighted key sectors within the blue economy that present significant opportunities for growth and investment, including:
Fisheries and Aquaculture: Nigeria’s coastal waters and inland waterways are rich in fish stocks, supporting millions of livelihoods. However, overfishing and unsustainable practices threaten the sector’s long-term viability. Investments in sustainable aquaculture and modern fishing techniques could enhance food security and create jobs.
Renewable Energy: The ocean offers untapped potential for renewable energy sources, such as offshore wind, tidal, and wave energy. Developing these resources could diversify Nigeria’s energy mix and support the country’s transition to a low-carbon economy.
Shipbuilding and Repair: Nigeria’s maritime industry has the potential to become a hub for shipbuilding and repair, reducing dependence on foreign shipyards and creating high-skilled jobs.
Tourism: Nigeria’s coastline, with its scenic beaches and rich cultural heritage, holds significant potential for marine and coastal tourism. Investments in eco-tourism and infrastructure could attract both domestic and international visitors.
Port Infrastructure: Modernizing and expanding Nigeria’s ports is critical to enhancing trade efficiency and competitiveness. Upgrading port facilities and adopting smart technologies could position Nigeria as a leading maritime hub in West Africa.
Despite these opportunities, Dr. Mobereola lamented the severe underfunding of the blue economy, both in Nigeria and globally. He cited a staggering annual financing gap of approximately $150 billion for Sustainable Development Goal 14 (SDG 14), which focuses on conserving and sustainably using oceans, seas, and marine resources. This gap highlights the urgent need for innovative financing mechanisms to support the sustainable development of marine ecosystems and industries.
The Case for Private Sector Involvement
Dr. Mobereola was unequivocal in his assertion that public funding alone cannot bridge the financing gap facing the blue economy. “Public resources are limited, and the scale of investment required to unlock the ocean’s potential far exceeds what governments can provide,” he stated. To address this challenge, he called for robust private sector participation, emphasizing that businesses, investors, and financial institutions have a critical role to play in driving sustainable development.
Private sector involvement offers several benefits, including access to capital, expertise, and innovative technologies. By investing in the blue economy, businesses can tap into new markets, create jobs, and contribute to environmental sustainability. For example, private companies could fund the development of offshore renewable energy projects, modernize port infrastructure, or support sustainable fisheries through partnerships with local communities.
However, attracting private investment requires a conducive enabling environment. Dr. Mobereola urged policymakers to establish supportive regulatory frameworks, incentive structures, and de-risking mechanisms to encourage private sector participation. These measures could include tax breaks for sustainable maritime projects, public-private partnerships (PPPs) for infrastructure development, and guarantees to mitigate investment risks in emerging sectors like marine renewable energy.
In Nigeria, the government has already taken steps to create an enabling environment for private investment. Initiatives such as the Nigerian Ports Process Manual, developed by NIMASA in collaboration with other agencies, aim to streamline port operations and reduce inefficiencies. Additionally, NIMASA’s partnerships with international organizations, such as the IMO, demonstrate Nigeria’s commitment to aligning its maritime policies with global best practices.
Collective Responsibility: A Call to Action
Dr. Mobereola’s address underscored the importance of collective responsibility in harnessing the opportunities of the blue economy while safeguarding the ocean’s health. “We must view our ocean as a national trust to be sustainably managed,” he declared. “Government, industry, and communities all have roles to play. We are partners in progress.”
This call to action resonates with the theme of World Maritime Day 2025, which emphasizes the shared obligation to protect and sustainably utilize the ocean’s resources. For Nigeria, this means balancing economic development with environmental stewardship. The government, through NIMASA, has committed to implementing IMO frameworks for ocean sustainability, including measures to reduce greenhouse gas emissions from shipping and promote a just transition to net-zero emissions.
Communities, particularly those along Nigeria’s coastline, also have a vital role to play. Coastal communities are the custodians of marine ecosystems and possess traditional knowledge that can inform sustainable practices. Engaging these communities in decision-making processes and empowering them through capacity-building initiatives will be key to ensuring the long-term success of the blue economy.
The private sector, meanwhile, must step up as a partner in progress. By aligning their investments with sustainable development goals, businesses can contribute to Nigeria’s economic growth while addressing global challenges such as climate change and marine pollution. Collaborative efforts between government, industry, and communities will be essential to unlocking the full potential of Nigeria’s blue economy.
Challenges and Opportunities in Nigeria’s Blue Economy
While the opportunities in Nigeria’s blue economy are vast, significant challenges remain. Illegal, unreported, and unregulated (IUU) fishing continues to deplete fish stocks, threatening the livelihoods of coastal communities and undermining food security. Marine pollution, particularly from plastic waste, poses a growing threat to Nigeria’s marine ecosystems, with an estimated 8 million metric tons of plastic entering the oceans annually. Climate change, with its associated impacts such as rising sea levels and ocean acidification, further exacerbates these challenges.
Addressing these issues requires a multi-faceted approach. NIMASA’s Marine Litter and Plastic Action Plan is a step in the right direction, but scaling up these efforts will require additional resources and partnerships. International cooperation will also be critical, as many of the challenges facing Nigeria’s blue economy, such as piracy and marine pollution, are transboundary in nature.
On the opportunity side, Nigeria’s blue economy has the potential to drive inclusive economic growth. The sector could create millions of jobs, particularly for youth and women, in areas such as aquaculture, tourism, and renewable energy. By investing in skills development and vocational training, Nigeria can build a workforce capable of meeting the demands of a modern maritime industry.
Moreover, the blue economy offers a pathway to diversify Nigeria’s economy, which remains heavily reliant on oil and gas. By tapping into renewable energy sources and promoting sustainable tourism, Nigeria can reduce its dependence on fossil fuels and build a more resilient economy. The success of the Deep Blue Project demonstrates that with the right investments and policies, Nigeria can achieve transformative outcomes in its maritime sector.
Global Context: Aligning with Sustainable Development Goals
Nigeria’s efforts to develop its blue economy are closely aligned with global sustainability goals, particularly SDG 14. This goal calls for the conservation and sustainable use of oceans, seas, and marine resources, with specific targets to reduce marine pollution, protect marine ecosystems, and support sustainable fisheries. Achieving these targets requires significant financial resources, technological innovation, and international cooperation.
Dr. Mobereola’s call for private sector involvement echoes global discussions on financing the blue economy. According to the United Nations, the annual financing gap for SDG 14 is a critical barrier to progress. Innovative financing mechanisms, such as blue bonds and impact investing, are gaining traction as tools to mobilize private capital for ocean-related projects. Nigeria has an opportunity to lead in this area by piloting innovative financing models tailored to its unique context.
NIMASA’s Role in Driving Progress
As Nigeria’s apex maritime regulatory agency, NIMASA is at the forefront of efforts to develop the blue economy. The agency’s mandate encompasses maritime safety, security, and environmental protection, making it a key player in implementing Nigeria’s blue economy strategy. Under Dr. Mobereola’s leadership, NIMASA has prioritized initiatives that align with both national and international priorities.
The agency’s collaboration with the IMO has been instrumental in strengthening Nigeria’s maritime governance framework. By adopting IMO conventions and guidelines, Nigeria is positioning itself as a responsible maritime nation committed to global standards. NIMASA’s efforts to modernize port operations, enhance maritime security, and combat marine pollution are laying the foundation for a sustainable blue economy.
The Path Forward
Dr. Mobereola’s address at the 2025 World Maritime Day celebration serves as a clarion call for action. Nigeria stands at a pivotal moment in its maritime history, with the opportunity to transform its blue economy into a driver of inclusive and sustainable growth. However, realizing this potential will require bold action, innovative thinking, and collaboration across sectors.
For policymakers, the priority is to create an enabling environment that attracts private investment while ensuring environmental sustainability. For businesses, the challenge is to seize the opportunities presented by the blue economy while aligning with global sustainability goals. For communities, the task is to engage actively in protecting their marine heritage and benefiting from the economic opportunities it offers.
As Dr. Mobereola aptly stated, “We are partners in progress.” By working together, Nigeria can harness the immense potential of its blue economy, ensuring that the ocean remains a source of opportunity, prosperity, and sustainability for generations to come. The journey to a thriving blue economy begins with collective action, and Nigeria is poised to lead the way.
