Just In; Nigeria’s Ocean Economy: A $1.5 Trillion Opportunity for Jobs and Food Security

Discovering the Potential of Nigeria’s Ocean Economy

Nigeria’s ocean economy has a lot of promise for our country. If we manage it well, it could add a whopping $1.5 trillion to the world’s economy. This sector could also create more than 30 million jobs and provide important food for over three billion people around the globe.

At the Crown Maritime Academy’s 2023 event, Professor Charles Ogbulogo, the Vice Chancellor of Maduka University in Enugu State, talked about this exciting opportunity. In his talk called “How to Make the Most of Nigeria’s Ocean Economy,” he reminded us of how important it is to take care of our oceans and the life within them.

The ocean economy, or the blue economy as it’s sometimes called, is all about using ocean resources wisely to help our economy grow. It’s like the green economy but focused on our oceans. We’re moving from old-fashioned businesses to new ways of thinking like the knowledge economy, care economy, green economy, and now the blue economy.

But here’s the thing: If we don’t pay attention, some countries might get left behind as this change happens. So, Nigeria needs to act now to make the most of our ocean riches. It’s not just about making money. It’s also about creating jobs, making sure we have enough food, and keeping our oceans healthy. As we dive into this new way of doing things, let’s make sure everyone gets to share in the benefits of our ocean wealth.