Federal Government Reaffirms Commitment to Sustainable Development of Nigeria’s Blue Economy
ABUJA — The Federal Government of Nigeria has restated its commitment to transforming the nation’s marine and blue economy sectors through sustainable, climate-responsive initiatives and strategic international partnerships.
The Permanent Secretary of the Federal Ministry of Marine and Blue Economy (FMMBE), Olufemi Oloruntola, disclosed this during a high-level consultative meeting with a delegation from Invest International, a Dutch state-owned development finance institution.
Integrating Climate Resilience into Policy
Addressing the delegation, Oloruntola emphasized that the Ministry is proactively integrating climate considerations into its core operational frameworks. He noted that the government’s strategy focuses on reducing carbon footprints, conserving fragile marine ecosystems, and ensuring that resource utilization remains environmentally responsible.
“Global attention is shifting toward the sustainable exploration of marine resources,” Oloruntola stated. “Nigeria is aligning with international best practices to ensure that emerging sectors, such as marine mining, are developed without compromising critical ecosystems like coral reefs.”
Strategic Focus on Fisheries and Infrastructure
A central pillar of the government’s agenda is the revitalization of the fisheries subsector. Recognized for its potential to bolster national food security and stimulate job creation, the Ministry is seeking to leverage Nigeria’s extensive marine and freshwater resources to attract significant domestic and foreign investment.
Furthermore, the government is prioritizing the development of resilient public infrastructure. This includes exploring nature-based solutions for drainage, water supply, and coastal protection to safeguard communities against the rising threats of climate change and coastal erosion.
International Partnership and Financing Opportunities
The leader of the Dutch delegation and Head of Public Finance for Invest International (Southern Africa Region), Fenna Zoe Howkamp, reaffirmed the Netherlands’ interest in deepening bilateral cooperation. Highlighting their expertise in water management, Howkamp presented proposals for coastal protection initiatives and feasibility studies tailored to Nigeria’s unique geography.
To facilitate these ambitious projects, Invest International outlined a robust financing structure:
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Grant Support: Offering up to 35% funding for public infrastructure projects valued between €100 million and €150 million.
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Collaborative Financing: Opportunities for co-financing arrangements with multilateral institutions, including the World Bank and the European Investment Bank.
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Technical Engagement: A commitment to formalizing feasibility studies to identify viable partners for long-term sustainable development.
Looking Ahead
The Ministry and Invest International agreed on the necessity of sustained engagement to transition these proposals into actionable projects. By merging international expertise with Nigeria’s vast maritime potential, the Federal Government aims to establish a blue economy that serves as a primary driver of national economic diversification and environmental stewardship.
Federal Government Reaffirms Commitment to Sustainable Development of Nigeria’s Blue Economy
