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2024 Nigeria’s Blue Economy  Outlook & Potentials

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Moses Braimah
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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.

 

  1. 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.

 

  1. 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.

 

  1. 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.

 

  1. CVFF Disbursement

– Monitoring progress in CVFF disbursement to indigenous ship owners.

– Assessing the impact on the maritime sector and job creation.

 

  1. 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.

 

  1. 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.

 

  1. 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.

 

  1. Illegal Fishing Regulation

– Curtailing illegal fishing activities through effective regulation and punitive measures.

– Safeguarding Nigeria’s marine resources for sustained economic gains.

 

  1. 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.

 

  1. 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.

 

  1. Capacity Building

– Emphasis on capacity building initiatives to enhance skills within the maritime sector.

– Training programs to meet evolving industry demands.

 

  1. 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

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Ugo Onwuaso is an ICT enthusiast. He believes technology should be used for general good. He holds a Master of Public Administration (MPA) degree from the Lagos state University. Dear Reader, Your support matters. But we believe that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. That is why, we have devoted our energy to independent reportage of technology and finance and how they affect lives. Our incisive and analytical view of how technology news affects the daily life help individuals and organizations make up their minds. Quality journalism costs money. Today, we're asking that you support us to do more. Kindly support our effort to deliver technology and finance journalism to everyone in the world. Donate as little as N1,000. Bank transfers can be made to: UBA Plc 1017156876 Communication Week Media Ltd

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Elumelu Tags Elon Musk, Disowns AI-Generated Scam Video

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Tony Elumelu, Nigerian businessman and philanthropist, has warned about the growing dangers of artificial intelligence misuse after an AI-generated video falsely showed him promoting a forex and cryptocurrency trading platform.

Elumelu Tags Elon Musk, Disowns AI-Generated Scam Video

Tony Elumelu,

The founder of Tony Elumelu Foundation revealed this in a post on his X account on Monday, explaining that the video appeared highly convincing but was entirely fabricated.

In the post, he also tagged Elon Musk, X owner, and Nigeria’s Federal Ministry of Communications, Innovation and Digital Economy while calling for stronger safeguards against the misuse of artificial intelligence.

“A few days ago, my team flagged an AI-generated video of me endorsing a forex and crypto platform.

“It looked and sounded remarkably real, but it was completely fake. This incident highlights a growing and serious threat to digital trust,” he wrote.

He stressed that he has no affiliation with any cryptocurrency or foreign exchange trading platforms.

“For the avoidance of doubt, I am not associated with any crypto or forex trading platforms.

“My commitment to inclusive prosperity has always been through long-term investments, building sustainable businesses, and empowering entrepreneurs,” he said.

While acknowledging the transformative potential of artificial intelligence, Elumelu urged African youths to embrace the technology responsibly and use it to develop scalable solutions.

“I strongly believe in the potential of AI. It is a defining technology of our time, and African youth must be at the forefront of adopting it to build scalable solutions. We cannot afford to be left behind in the global tech race,” he added.

The business leader, however, warned that rapid technological advancement also presents risks if not properly regulated.

“But the flip side of rapid innovation is the risk of abuse. The ease with which identities can now be cloned to deceive the public is alarming.

“Policymakers and regulators must act now to establish safeguards and hold those using it to scam innocent people accountable,” he said.

Elumelu also urged the public to remain vigilant and protect themselves from digital fraud.

“We must create a safe digital environment where true innovation can thrive without being overshadowed by fraud. Protect your hard-earned money, stay alert, and let us continue to build the Africa we deserve,” he said.

 


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NITDA DG Appraised the Role of Teachers as Key to Nigeria’s Digital Transformation

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By Solomon Yaji

Kashifu Inuwa, the Director-General of the National Information Technology Development Agency (NITDA), has emphasised the critical role teachers play in driving Nigeria’s digital transformation, noting that classrooms will be central to shaping the country’s technology-driven future.

Inuwa made the remark during a stakeholders’ dialogue organised by the Development of Educational Action Network Initiative (DEAN) in Abuja.

Speaking on the theme “Nigeria’s Current Digital Landscape: Our Reality and Its Practical Connection to Education,” the NITDA DG, who was represented by the agency’s Director of Stakeholder Management and Partnerships, Dr. Aristotle Onumo, said the rapid expansion of the digital economy is reshaping the education sector and redefining the role of teachers in modern learning environments.

He explained that while digital technologies have created unprecedented access to information and opportunities for students, they also present challenges that require guidance and responsible use.

According to him, teachers must go beyond the traditional role of knowledge transmission to become mentors who help students navigate the digital world safely and responsibly.

“Teachers are no longer just instructors; they are now guides who help students identify credible information, avoid harmful online content, and develop responsible digital behaviour,” he said.

Inuwa added that educators must cultivate critical thinking among students while equipping them with the skills needed to thrive in an increasingly technology-driven society.

He reaffirmed NITDA’s commitment to advancing digital literacy nationwide through initiatives such as the Digital Literacy for All programme and partnerships with educational institutions aimed at strengthening teachers’ digital capacity.

The NITDA boss stressed that empowering teachers with digital skills is vital to preparing Nigerian students for the future workforce and ensuring the country remains competitive in the global digital economy.

Nigeria is currently pursuing an ambitious digital literacy agenda, targeting 70 per cent digital literacy by 2027 as part of broader efforts to build a knowledge-driven economy powered by innovation and technology.

Earlier in his remarks, the Executive Director of DEAN Initiative, Semiye Michael, said the workshop was designed to re-engineer teachers’ capacity in line with the realities of the digital economy.

“We need to strengthen teachers’ competence and provide them with access to the necessary digital infrastructure,” Michael said, adding that the engagement would help shape policies that support technology-driven learning in Nigerian schools.

He described the workshop as an “awesome experience,” noting that ideas generated during the session would be consolidated into a policy guide for the ministry and other relevant agencies.

Michael further noted that strengthening teachers’ digital capacity would be vital to enhancing Nigeria’s competitiveness in the global knowledge economy.

The event attracted key stakeholders from the Federal Ministry of Education, Nigerian Communications Satellite Limited (NIGCOMSAT), as well as private sector experts.


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Amnesty Poll: 97% of Nigerians Doubt Judicial Independence

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A new Amnesty International poll exposes stark public distrust in Nigeria’s judiciary, with nearly 97% of respondents believing judges face external influence and lack independence in their duties.

Amnesty Poll: 97% of Nigerians Doubt Judicial Independence

Amnesty International

Shared on social media by Amnesty International Nigeria, the poll asked if Nigerian judges operate freely. An overwhelming majority answered “No,” with only a tiny fraction expressing confidence amid fears of pressure from political actors or powerful interests.

Judicial independence underpins democratic governance, enabling impartial rulings based on law alone. In Nigeria, doubts have intensified after controversial decisions in high-stakes political cases.

While not a scientific survey, the findings echo civil society demands for reforms to boost transparency, accountability, and trust. Advocates stress that bolstering court autonomy is vital for upholding the rule of law and citizens’ rights nationwide.


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