Maritime
February 19, 2025 by
Ekaete Bassey
The Blue Economy Academy (BEA) has unveiled a strategic initiative to transform Nigeria’s maritime industry by addressing “sea blindness”—the country’s long-standing neglect of its ocean-driven economic potential.
At a media luncheon in Lagos, BEA’s Founder, Ubong Essien, a former Special Adviser on Strategy and Communications to the immediate past Director-General of NIMASA, introduced the organisation’s core vision: “Prosper by Water.”
Essien highlighted the Academy’s mission to harness education, policy advocacy, and strategic collaboration to unlock Nigeria’s vast blue economy opportunities.
He noted that despite the country’s extensive coastline and rich marine resources, the maritime sector remains largely underutilized.
To drive this transformation, Essien outlined a four-pronged approach structured around “The Ten Blue Economy Buckets”—a comprehensive framework aimed at guiding Nigeria’s maritime growth and economic expansion.
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“Blue Commerce” he said, focuses on enhancing maritime trade and logistics, ensuring seamless movement of goods and services through Nigeria’s waterways. “Blue Bounty”, aims to expand fisheries and aquaculture, tapping into the country’s rich marine biodiversity for food security and economic gain.
“Blue Power”, explores renewable ocean energy solutions, positioning marine-based energy as a sustainable alternative for the future.
“Additionally, “Blue Cities” emphasises the development of sustainable waterfront communities, transforming coastal areas into hubs of economic and social activity.
“Blue Governance” seeks to strengthen maritime policies and regulatory frameworks, ensuring that Nigeria’s maritime sector operates with clear guidelines and oversight.
“Blue Nexus” promotes integration among ocean-based industries, fostering interconnected growth across sectors such as shipping, tourism, and fisheries.
“In response to environmental challenges, “Blue Climate” addresses the impact of climate change on marine ecosystems, advocating for sustainable practices that protect the nation’s coastal and oceanic resources.
“Blue Talent” focuses on cultivating human capital for maritime careers, providing training and skill development to create a highly competent workforce.
“Lastly, “Blue Venture” encourages entrepreneurship and investment in the maritime industry, fostering innovation and private-sector participation in Nigeria’s blue economy,” the Academy’s founder explained.
Meanwhile, one of the most thought-provoking moments in Essien’s speech was his discussion on how Nigeria needs to rethink real estate, viewing water as a valuable economic asset.
He compared maritime infrastructure to the real estate of telecom giants like MTN, whose true assets lie in the airwaves they control.
“Water itself is the next big real estate,” he asserted.
“Just as telecom companies thrive on their spectrum licenses, Nigeria must see its maritime domain as an economic frontier ripe for development.”
Essien reiterated that Nigeria’s blue economy could generate massive economic opportunities if properly harnessed.
He pointed to global trends where coastal infrastructure such as waterfront developments, ports, and eco-friendly cities drive economic activity.
Citing Landmark Beach’s ongoing challenges with coastal encroachment and the shift of investments to inland waterfront projects like Nike Lake Resort in Enugu, he argued that Nigeria must be proactive in leveraging its coastal resources.
Drawing from his experience at the Nigerian Maritime Administration and Safety Agency (NIMASA), Essien underscored the importance of partnerships in achieving maritime sector transformation.
“You can never get anything meaningfully done in this industry without collaboration,” he noted.
“You can never succeed at any major quest without collaboration, no matter how powerful your position is. Even if people look up to you to enjoy certain benefits, no position is powerful enough to achieve major things without collaboration” Essien added.
He further called on industry leaders, academia, and policymakers to join forces in shaping Nigeria’s blue economy agenda.
He also encouraged media professionals to play an active role in amplifying maritime conversations, ensuring that the sector receives sustained attention.