Delta Summit: Experts Call For Bankable Blue Economy Projects To Spur Growth

Experts at the Delta State Economic and Investment Summit 2026 have called for the development of bankable blue economy projects, saying practical investments,not endless discussions, will unlock Nigeria’s maritime potential, create jobs and support the country’s ambition of building a $1 trillion economy.

The experts made the submission during a panel session on “Blue Economy and Transport Infrastructure: Potential for Rebuilding and Repositioning Nigeria’s Maritime Industry,” where they stressed the need for coordinated policies, reliable data and an enabling environment to attract sustainable investment into the sector.

Blue economy consultant, Dr. Uche Igwe, said maritime activities had been part of Nigeria’s economy long before the discovery of crude oil, dismissing the notion that the blue economy was a new concept.

“Many people have the misconception that the blue economy is new. The blue economy has been here forever, even before the discovery of oil,” Igwe said.

He explained that the federal government’s renewed attention to the sector reflects efforts to diversify the economy and tap alternative sources of growth.

“What is going on is that the federal government, and indeed the state government, thinks that it is important to diversify, and it is important to look towards the blue economy, to provide that alternative that has always been there,” he said.

Igwe noted that the creation of the Federal Ministry of Marine and Blue Economy and the National Marine and Blue Economy Policy had laid the institutional foundation for sectoral growth, but insisted that the next phase should focus on converting opportunities into commercially viable investments.

“The political will and the political temperature that we witnessed between yesterday and today means that it is time for action beyond talk.

“And that’s really why in our work at the West Africa Sustainable Ocean Programme (WASOP), which is an EU-funded technical assistance facility for 57 million euros, we are saying that it is time for action. It is time to take blue economy as business,” he stated.

According to him, attracting investors would require projects that are financially viable while also delivering social and economic benefits to host communities.

“For that business to happen, we need to present projects that are bankable, whose numbers are good and profitable, not only profitable on the side of investors, whether foreign or local, but also profitable on the side of the communities, especially the maritime communities, and also in terms of impacting livelihoods.

“The potentials are huge, but today we are not just talking about the potentials. We are talking about what to do next to unlock these potentials and translate them into sustainable development,” he added.

Chief Executive Officer of Maritime Innovations Hub, Princess Ronke Kosoko, said the creation of the Ministry of Marine and Blue Economy was intended to provide the institutional focus needed to maximise opportunities within the sector and support Nigeria’s $1 trillion economic target.

“When the Tinubu administration was coming in, there were conversations… that led to the creation of that ministry.

“And why? Because we are targeting a $1 trillion economy as a nation,” she said.

Kosoko disclosed that the National Marine and Blue Economy Policy, approved by the Federal Executive Council, would serve as the roadmap for the sector between 2025 and 2034.

She urged states to identify and develop their comparative advantages across the blue economy value chain, including fisheries, aquaculture, shipping, inland waterways, boat building and maritime services.

However, she maintained that Nigeria’s biggest challenge was not the absence of policies but poor coordination and implementation.

“We do not need new strategy. We all know the potential. Madam Okonjo-Iweala talked about blue economy yesterday… But the problem that we have, at least in the last 15 years that I have come in and operated, is coordination and execution,” Kosoko said.

She advised Delta State to prioritise the development of its inland waterways and establish a comprehensive investment framework that clearly maps maritime assets and opportunities for prospective investors.

Drawing lessons from Lagos State, Kosoko said coordinated planning and policy implementation had helped attract substantial investment into the waterways sector.

She added that major infrastructure projects such as the Lagos-Calabar Coastal Highway, Sokoto-Badagry Highway and the Lagos-Abidjan Corridor would create fresh opportunities in transportation, fisheries, boat building and employment.

“It means fishing opportunities. It means more boats will be built. Many more people will be employed,” she said.

Also speaking, Senior Country Officer of the International Finance Corporation (IFC), Mohammed Aliyu, stressed that reliable data collection should form the foundation of every successful blue economy investment strategy.

“The first point is data collection. We need to collect data. From the data, we would be able to identify interesting opportunities for the state to bring to life,” he said.

Aliyu also called for transparent procurement processes, warning that poor project selection could undermine investment viability from the outset.

“These procurement processes speak to how we select our contractors, project proponents and consultant advisers.

“If we miss it from the beginning, everything that comes downstream will almost always likely not be bankable or will require unnecessary government support,” he stated.

The panellists agreed that Delta State’s extensive coastline, waterways and maritime resources position it to become a major blue economy hub, but emphasised that unlocking the sector’s full potential would require strategic planning, credible data, investor-friendly policies and effective execution.