Turning the Tide: Nigeria Approves First Marine & Blue Economy Policy to Unlock $24 Billion Ocean Sector

Nigeria is making a bold move to harness its long-underutilized marine assets, as the Federal Executive Council (FEC) has approved the country’s first National Policy on Marine and Blue Economy. Framed as a 10-year strategy (2025–2034), the policy is designed to transform Nigeria’s 853 km coastline and vast network of inland waterways into engines of economic growth, job creation, and environmental sustainability.

The announcement—made by President Bola Tinubu’s special adviser, Sunday Dare—marks the country’s most coordinated effort yet to tap into the estimated $24 billion potential of ocean-based industries, spanning maritime logistics, fisheries, coastal tourism, clean ocean energy, and more.

Private Capital Will Be Key to Policy Success

At the heart of the newly approved blueprint is a strong appeal to private sector players. Minister of Marine and Blue Economy, Adegboyega Oyetola, emphasized that Nigeria is not just unveiling a policy but declaring a national intent to turn its marine wealth into sustainable value. “We now have a comprehensive blueprint to transform our coastal and inland waterways into engines of national development,” he said.

The policy outlines clear pathways for Public-Private Partnerships (PPPs), signaling the government’s plan to lean on private financing and technical expertise to drive execution. This includes infrastructure upgrades, aquaculture expansion, port modernization, and energy diversification through ocean-based renewables. Stakeholders are watching closely to see how regulatory bottlenecks and long-standing inefficiencies will be addressed to make the sector truly investment-ready.

A Broader Strategy for Diversification and Resilience

The timing of the policy aligns with Nigeria’s wider strategy to diversify its economy and strengthen non-oil sectors. By leveraging blue economy assets, the government aims to create jobs, grow trade volumes, and reduce environmental degradation through sustainable marine practices. The inclusion of a monitoring and evaluation framework also signals a commitment to transparency and results.

If implemented effectively, this could position Nigeria as a regional hub for maritime innovation and sustainable development—especially as global attention sharpens on climate-smart investments and coastal resilience.

From Potential to Progress

Nigeria’s marine and blue economy has long been an overlooked frontier. With the new policy, the country now has a rare opportunity to convert latent potential into real, measurable impact. But the blueprint alone won’t drive transformation. The next decade will test Nigeria’s ability to coordinate public-private action, remove structural barriers, and deliver outcomes that benefit both its people and the planet.

For investors, innovators, and development partners, the message is clear: the ocean is no longer just a boundary—it’s the future.