The Federal Government is pushing an ambitious investment-driven approach to unlock the potential of Nigeria’s blue economy, with several projects valued between €100 million and €150 million now in focus and up to 35 per cent foreign financing on offer.
This push came as the Ministry of Marine and Blue Economy reaffirmed its commitment to climate-responsive policies designed to generate long-term value in fisheries, port infrastructure, and coastal development, while meeting international environmental standards.
Speaking during a meeting with a Dutch delegation in Abuja, the Permanent Secretary of the Ministry, Hajiya Fatima Sugra Tabi’a Mahmood, said the government is making sustainability a cornerstone for attracting capital and spurring growth in the sector.
She said: “The Ministry is actively integrating climate considerations into its policies and programmes, with a strong focus on reducing carbon footprints, conserving marine ecosystems, and promoting environmentally responsible resource utilisation.”
Mahmood noted that global investment trends are increasingly shifting toward sustainable exploitation of marine resources, including emerging segments such as marine mining, adding that Nigeria is aligning with international best practices to mitigate environmental risks.
According to her, “Nigeria is aligning with international best practices to ensure that such activities are undertaken without adverse environmental impact, while safeguarding critical ecosystems, including coral reefs.”
Mahmood identified the fisheries subsector as a key growth frontier, citing its dual potential for boosting food security and generating employment. She emphasised that Nigeria’s vast marine and freshwater assets present significant untapped investment opportunities.
The Permanent Secretary also highlighted the ministry’s focus on unlocking capital for large-scale infrastructure, particularly in port services and marine logistics, to enhance efficiency and competitiveness.
She said: “The Ministry remains open to strategic partnerships, particularly in port services and marine infrastructure, to unlock long-term investment required for sustainable development.”*
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Mahmood further assured investors of Nigeria’s readiness to collaborate with global partners to drive innovation and scale sustainable projects across the blue economy value chain.
Similarly, the Head of Public Finance (Southern Africa Region, including Nigeria) at Invest International, Fenna Zoe Howkamp, reaffirmed the Netherlands’ commitment to expanding its footprint in Nigeria’s marine sector through financing and technical partnerships.
She disclosed that the institution is advancing project pipelines in coastal protection and water infrastructure, including feasibility studies and nature-based solutions.
Howkamp said: “Invest International is committed to deepening collaboration with the Federal Ministry of Marine and Blue Economy,” highlighting the organisation’s expertise in marine and water management.
She further revealed the scale of financing available to Nigeria, noting, “Our financing options include up to 35 per cent funding support for public infrastructure projects valued between €100 million to €150 million.”
According to her, such funding structures can be delivered through co-financing arrangements with multilateral institutions like the World Bank and the European Investment Bank, or via direct lending to the Ministry.
She underlined the importance of sustained engagement to unlock these opportunities, stating that feasibility studies and partner identification would be critical to advancing coastal protection and other high-impact projects.
Howkamp added that both parties share a common goal of building resilient infrastructure that supports sustainable economic activities in coastal communities, while promoting environmentally friendly, nature-based solutions.
