FG, Maritime Innovations Hub Unveil Blueprint to Power Nigeria’s $1trn Economy Through Blue Economy

Sunday Aborisade in Abuja

Nigeria’s quest to build a $1 trillion economy received a major private-sector push as the Maritime Innovations Hub (MIH), in partnership with the Ministry of Marine and Blue Economy, unveiled an ambitious framework aimed at unlocking the vast but underutilised potential of the nation’s blue economy.

Speaking at a media parley in Abuja yesterday, ahead of the Blue Economy Investment Summit scheduled for March 2026, the Chief Executive Officer of MIH, Ronke Kosoko, said Nigeria could no longer afford “talk shops and recycled ideas” if it must close an estimated $750 billion GDP gap within the next decade.

She described the Hub as a private sector–led platform designed to drive innovation, investment mobilisation, governance reforms and human capital development across the entire maritime value chain, stressing that the focus would be on measurable outcomes rather than rhetoric.

According to her, the maritime sector, despite Nigeria’s 850-kilometre coastline and expansive exclusive economic zone, currently contributes less than three per cent to GDP, far below its potential.

“Globally, the blue economy is projected to exceed $3 trillion by 2030. Nigeria has the assets, the location and the market. What we have lacked is execution,” she said.

Kosoko noted that the creation of the Ministry of Marine and Blue Economy under President Bola Ahmed Tinubu had created an opportunity to rethink strategy, align public and private sector efforts, and accelerate reforms in ports, shipping, fisheries, tourism, shipbuilding and marine energy.

She disclosed that the forthcoming Blue Economy Investment Summit would convene policymakers, investors, development partners, global maritime leaders, academia and civil society to develop a National Blue Economy Investment Framework, identify bankable projects and establish a public-private coordination mechanism to ensure follow-through.

Key priorities outlined, according to her, include modernisation of ports infrastructure, reduction of logistics costs, deployment of digital single-window systems, development of local shipbuilding and dry-docking capacity, sustainable fisheries and aquaculture, and expansion of coastal tourism.

Kosoko revealed that MIH had already facilitated conversations around over $1.3 billion in potential investments within the last two years, while working with agencies such as the Nigerian Ports Authority, National Inland Waterways Authority and Nigerian Maritime Administration and Safety Agency to address systemic inefficiencies.

A major pillar of the initiative, she said, was human capital development, with a plan to onboard up to one million young Nigerians into maritime-related careers over the next decade through skills training, funding, mentoring and structured career pathways.

“We cannot build a $1 trillion economy without deliberately building the next generation of skilled professionals,” she stressed.

She also highlighted recent milestones in the sector, including Nigeria’s return to Category C at the International Maritime Organisation after 14 years, the completion of the Institute of Maritime Studies at the University of Lagos, and the launch of major coastal infrastructure projects such as the Lagos-Calabar Coastal Highway.

Representatives of the Ministry of Marine and Blue Economy, regulatory agencies, state governments, investment promotion bodies and development partners attended the parley, signalling growing alignment around the blue economy agenda.

Kosoko said the summit would be a turning point.

She added, “This is not an event. It is a movement. Nigeria must move from potential to productivity, from speeches to execution. The blue economy offers us that chance, if we are ready to do the work.”