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2024 Nigeria’s Blue Economy Outlook & Potentials

By Moses Braimah
The 2024 budget for the Federal Ministry of Marine and Blue Economy focuses on key areas such as ports infrastructural development, modernization of Apapa and Tin Can ports, rehabilitation of Eastern ports, dredging inland and coastal waterways, and building human capacity.

The Minister during his budget defence, emphasizes the importance of effective technical and economic regulation to strengthen Nigeria’s Blue Economy.
Projections for the Blue Economy in 2024 could include anticipated improvements in port infrastructure, increased maritime administration efficiency, growth in human capacity, and positive impacts on economic regulation. These initiatives may attract more ships to Nigerian ports, improve port clearance processes, and contribute to the overall economic growth and GDP of the country.
However, for each specific initiative, potential challenges, and the monitoring of progress throughout the year are important. Additionally, external factors such as global economic conditions and environmental changes should be taken into account.
Briefly, let’s take a look at each.
- Security and Innovation
– A further reduction in piracy incidents through continued collaboration between NIMASA and the Nigerian Navy.
– Expect ongoing investments in maritime safety technologies, potentially leading to a significant improvement in overall security.
- Port Operations
– Positive impact from the commissioning of Lekki Deep seaport on overall port efficiency.
– Increased competition leading to enhanced operations at Apapa and Tin-Can ports.
- Infrastructure Rehabilitation
– Implementation of major port rehabilitation projects, including Apapa and Tin-Can, with a focus on modernization.
– Budget allocation contributing to improved port facilities.
- CVFF Disbursement
– Monitoring progress in CVFF disbursement to indigenous ship owners.
– Assessing the impact on the maritime sector and job creation.
- Blue Economy Potential
– Development of the fishing industry, harnessing wind and renewable energy.
– Exploration of untapped blue economy potential, estimated at $296 billion.
– Job creation, improved food security, and economic growth expected.
- Single Window Platform
– Push for the establishment of a single window platform to streamline port processes.
– Reduction of fees and enhanced efficiency in cargo clearance for import and export.
- Cabotage Act Administration
– Strategic administration of waivers under the Cabotage Act to empower Nigerian shipowners.
– Ensuring the intended impact of the Cabotage Act is realized.
- Illegal Fishing Regulation
– Curtailing illegal fishing activities through effective regulation and punitive measures.
– Safeguarding Nigeria’s marine resources for sustained economic gains.
- Blue Economy Exploitation
– Focus on maximizing opportunities in fishery, wind energy, and renewable energy.
– Job creation, economic growth, and exploration of the $296 billion untapped potential.
- 10. Tourism and Ship Repair Industry
– Collaboration with the Ministry of Tourism for coastal tourism promotion.
– Consideration of the ship repair industry’s potential for economic self-sufficiency.
- Capacity Building
– Emphasis on capacity building initiatives to enhance skills within the maritime sector.
– Training programs to meet evolving industry demands.
- Baseline Studies and Centralized Data Agency
– Initiation of baseline studies for comprehensive understanding of blue economy dynamics.
– Establishment of a centralized Centre/Agency focusing on data, statistics, and research for the sector.
Note. The success of this outlook relies on continuous monitoring, adaptive strategies, and the Ministry’s commitment to fostering innovation, strengthening regulations, and promoting sustainable practices within the Blue Economy.
- Braimah is the Executive Project Director of Pacific Messages
News
Nigeria CommunicationsWeek Retracts Story on Pan African Towers Litigation

Management of Nigeria CommunicationsWeek Media has withdrawn its publication titled “Adefolarin Ogunsanya and the Allegations of Shareholder Interference and Self-Dealing at Pan African Towers,” which was published on its platform.

The decision to retract the story follows an editorial review to ensure that the platform maintains the highest standards of accuracy, fairness and responsible journalism in reporting matters that are the subject of ongoing judicial proceedings.
Nigeria CommunicationsWeek acknowledges that the issues raised in the publication remain before the courts and have not been finally determined.
Accordingly, the organisation has decided to remove the article from its platforms pending the conclusion of the legal processes or the availability of additional verified information.
The publication regrets any inconvenience or misunderstanding the report may have caused to readers or any individuals or organisations mentioned in the story.
Nigeria CommunicationsWeek remains committed to the principles of balanced, factual and ethical journalism and will continue to uphold professional standards in its coverage of judicial and corporate governance matters.
News
INTERPOL Report Shows AI Powers 55% of Cybercrimes in Africa Amid $484m Losses

INTERPOL’s African Cyberthreat Assessment Report 2026 revealed that Artificial intelligence accounts for 55 per cent of reported cybercrimes across Africa and making attacks faster, more sophisticated and increasingly difficult to detect.

The report warns that the continent’s rapid digital transformation, marked by more than 1.1 billion mobile subscribers in 2025, is being matched by an equally rapid evolution in cybercrime, while fragmented legislation and limited AI readiness among law enforcement agencies continue to weaken responses.
The 40-page assessment, based on survey data from 36 African member countries, said cybercrime has shifted from isolated criminal activity to an industrialised, borderless ecosystem powered by AI.
According to the report, East Africa has become a hotspot for mobile money fraud and ransomware attacks targeting critical infrastructure, while business email compromise (BEC) and romance scams are widespread across Central and West Africa.
Southern Africa, it noted, has become an attractive target for international cybercriminals due to its high level of internet connectivity.
The report also highlighted the growing financial impact of cybercrime across the continent, revealing that losses have more than doubled since 2024, rising from 192 million dollars to 484 million dollars.
It attributed the increase largely to AI-enabled scams, credential harvesting and automated social engineering attacks.
INTERPOL said online scams remained the most commonly reported form of cybercrime in 2025, with criminals exploiting mobile money platforms, social media and AI-generated content to deceive victims.
It added that 72 per cent of surveyed countries reported the existence of scam centres, with the highest concentration recorded in Southern and West Africa.
The report further identified digital sextortion and online harassment as persistent threats, driven increasingly by AI-generated deepfakes and synthetic media.
According to data from TrendAI, one of INTERPOL’s partners, about 600,000 sextortion incidents were detected during the reporting period.
Business email compromise schemes have also become more sophisticated, with AI being used to generate highly convincing email communications.
The report said Africa-based threat actors are increasingly targeting victims in Europe and North America using cyber infrastructure spread across multiple jurisdictions.
INTERPOL warned that the absence of real-time information sharing between banks, telecommunications companies and law enforcement agencies has created significant vulnerabilities in tackling financial cybercrime.
It said cybercriminals are no longer relying solely on stolen credentials but are now creating AI-generated synthetic identities by combining genuine personal information with fabricated details.
These synthetic identities, the report noted, have been used to bypass biometric verification systems, open bank accounts, obtain mobile loans and register SIM cards under false identities.
Neal Jetton, Director of INTERPOL’s Cybercrime Directorate, described cybercrime as one of the most significant criminal threats facing Africa.
“Cybercrime has emerged as one of the most significant criminal threats to the region. AI is automating every stage of a cyberattack from reconnaissance and phishing to extortion and evasion.
“However, we see that when countries work together, cybercriminal infrastructure can be identified, disrupted and dismantled,” he said.
Despite the growing threat, the report highlighted progress in strengthening cybersecurity across the continent.
It disclosed that 17 African countries enacted or amended cybercrime legislation in 2025, while Senegal launched an online reporting platform to improve responses to online offences affecting children.
The report also noted that regional capacity-building initiatives are helping to improve long-term cyber resilience.
INTERPOL said four major cybercrime operations conducted in 2025, Operation Serengeti 2.0, Operation Contender 3.0, Operation Sentinel and Operation Red Card 2.0, resulted in more than 1,500 arrests, the seizure of hundreds of electronic devices and the recovery of over 100 million dollars.
To address the growing threat, the report recommended the adoption of standardised digital forensic capabilities, stronger cross-border collaboration, greater investment in AI literacy for law enforcement personnel and formal public-private partnerships to improve cybercrime prevention, detection and response.
The African Cyberthreat Assessment 2026 forms part of INTERPOL’s African Joint Operation against Cybercrime initiative, funded by the United Kingdom’s Foreign, Commonwealth and Development Office, with data contributions from Fortinet, Mastercard, the Shadowserver Foundation, S2W and TrendAI.
News
Nigeria Expands Deep-tech Skills Pipeline

Nigerian students will soon design, assemble, test and fly drones as part of their university education, following a partnership between Miva Open University and Abuja-based defence technology company Terra Industries.

The collaboration comes as Nigeria intensifies efforts to develop indigenous capabilities in advanced manufacturing and defence technology, with both organisations seeking to strengthen Africa’s pipeline of deep-tech talent.
The partnership will see students gain hands-on experience in drone engineering and related technologies through dedicated labs and industry collaboration.
The partners will establish robotics, drone and virtual reality laboratories across Miva’s study centres, beginning with a pilot facility in Abuja.
Students will also gain access to industry-led workshops, research opportunities, internships and mentorship in artificial intelligence, robotics, cybersecurity and autonomous systems.
According to the partners, Terra’s engineering teams will work alongside Miva faculty to integrate hands-on hardware training into academic programmes, exposing students to real-world engineering challenges and building industry experience before graduation.
Nathan Nwachuku, co-founder and CEO of Terra Industries, said Africa’s technological future depends on developing engineers capable of building solutions for local challenges.
“The engineers who will build Africa’s future must learn by building. This partnership creates opportunities for students to work with the technologies shaping modern security, infrastructure and autonomous systems,” said Nwachuku.
Miva Open University said the initiative forms part of its commitment to experiential learning, adding that students will have the opportunity to “design, test and fly drones as part of their academic experience”.
The partnership builds on Terra’s expanding role in Nigeria’s defence technology sector. Earlier this year, the company signed a joint venture with the Defence Industries Corporation of Nigeria to localise the production of drones, robotics systems and cybersecurity infrastructure, supporting efforts to strengthen domestic manufacturing and reduce reliance on imports.
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