Blue Economy in Nigeria: Focus Areas, Potentials and Challenges

Khadijah O. Yusuff and Elizabeth O. Ibidapo-Obe, Volume 5 Issue 1, July 2024 Pages 161-169, Published: 2024-06-25

Abstract

This article explores the concept and potential of the blue economy within the context of Nigeria, focusing on leveraging marine and coastal resources for sustainable economic growth and development. It delves into the various sectors of the blue economy, including fisheries, aquaculture, tourism, renewable energy, and maritime transportation, highlighting their significance in job creation, food security, and GDP growth. Challenges such as overfishing, governance regulation, maritime security, climate change, and environmental mismanagement are also addressed, alongside recommendations for the future advancement of the blue economy. By examining the nexus between the blue economy and national development goals, the article underscores the importance of fostering policies and investments to realize the full potential of Nigeria's maritime sector. Ultimately, it advocates for a holistic approach to harnessing marine resources for inclusive economic growth and sustainable development in Nigeria.