POLICY AND GOVERNANCE OF THE BLUE ECONOMY IN NIGERIA

Abstract

The marine environment is essential to global sustainability and economic development. The blue economy framework emphasizes the sustainable use of marine resources to support economic growth while ensuring environmental protection. This paper doctrinally examines Nigeria’s blue economy potential, highlighting opportunities and challenges. Nigeria, with its vast coastal resources, has significant prospects in maritime trade, fisheries, and renewable energy. However, inadequate funding, weak policy frameworks, and environmental degradation hinder its full potential. Addressing these challenges is crucial for sustainable economic growth. This paper identifies key strategies for advancing Nigeria’s blue economy, including strengthening political will, developing and implementing effective policy frameworks, and reinforcing existing legal and institutional mechanisms. Additionally, enhancing marine environmental protection and promoting responsible resource management is vital to ensuring long-term benefits. A well-managed blue economy can significantly contribute to Nigeria’s economic diversification, job creation, and environmental sustainability. Therefore, immediate policy interventions, strategic investments, and effective governance are necessary to unlock the full potential of Nigeria’s marine resources while mitigating environmental risks. By adopting these measures, Nigeria can establish a resilient and sustainable blue economy that balances economic development with environmental conservation.