Nigeria advances sustainable blue economy growth plan, strengthening climate-focused marine policies and international investment partnerships

The Federal Government of Nigeria, reaffirmed its commitment to advancing a sustainable blue economy growth plan anchored on climate resilience, environmental protection, and long-term marine sector development.

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The Permanent Secretary of the Federal Ministry of Marine and Blue Economy, Mrs Fatima Sugra Tabi’a Mahmood, made this known while receiving a delegation from Invest International, a state-owned development finance institution under the Dutch Ministry of Finance, led by Ms Fenna Zoe Howkamp.

Mrs Mahmood stated that the Ministry is deliberately embedding climate considerations into its policies and programmes as part of efforts to ensure responsible utilisation of Nigeria’s marine resources.

She emphasised that sustainability remains central to the government’s development agenda for the blue economy.

She explained that Nigeria is aligning with global best practices in marine resource management, including emerging sectors such as marine mining, while ensuring that such activities do not cause environmental degradation or threaten fragile ecosystems.

“Our approach is to ensure that development within the marine space is sustainable, climate-responsive and environmentally responsible,” she said, noting that the sustainable blue economy growth plan prioritises ecosystem protection alongside economic expansion.

Mrs Mahmood further identified fisheries as a key subsector with strong potential for economic transformation, particularly in the areas of food security, nutrition, and job creation.

She highlighted Nigeria’s vast aquatic resources and described the sector as one with significant untapped investment opportunities.

She also reaffirmed the Ministry’s openness to strategic partnerships, especially in port development and marine infrastructure, stressing that collaboration with international partners remains essential for unlocking long-term growth in the sector.

“We are open to partnerships that will drive innovation, investment and sustainability in our marine space,” she said.

In her remarks, Ms Fenna Zoe Howkamp, Head of Public Finance at Invest International for the Southern Africa region including Nigeria, reiterated the organisation’s commitment to strengthening cooperation with Nigeria in the blue economy sector.

She outlined Invest International’s technical expertise in marine and water management and presented proposals that include coastal protection projects, feasibility studies, and nature-based solutions for drainage and water supply systems.

Ms Howkamp added that the institution is prepared to support large-scale infrastructure development through financing options covering up to 35 per cent of eligible project costs for public infrastructure valued between €100 million and €150 million.

She further explained that funding arrangements could be structured through co-financing with multilateral institutions such as the World Bank and the European Investment Bank, or through direct lending to Nigerian ministries and agencies.

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Both parties agreed on the need for sustained engagement to advance feasibility studies and identify viable projects capable of strengthening coastal resilience and supporting Nigeria’s long-term sustainable blue economy growth plan.