A Qualitative Review of Nigeria's Blue Economy: Opportunities and Sustainability Challenges

The study qualitatively reviewed existing literatures of Nigeria’s Blue Economy, opportunities and sustainable challenges. The objectives of the study was among other things, to examine the opportunities associated with Nigeria’s blue economy, to identify the major challenges and sustainability concerns affecting the development of Nigeria’s blue economy. The study adopted qualitative review approach with a secondary data obtained from academic journal articles, conference papers, seminar papers, government publications and blue economy related publications. The materials were purposively sampled and the most relevant articles were selected based on their relevance on the objective of the study. The result of the study indicates that there are enormous opportunities in the blue economy, which includes but not limited to industrial fishing and aquaculture, shipbuilding, repair and ownership, port development and management, seabed mining and offshore wind energy. Despite this numerous opportunities, there are still abundance of challenges surrounding the Nigeria’s blue economy which includes lack of a working blue economy policy, limited funding, and lack of protection of maritime resources and regions, environmental pollution, suboptimal implementation of existing legal and institutional framework, externalities, and international hostilities. The challenges as aforementioned that persist in Nigeria’s blue/marine economy sector, however, shows that the nation is not doing well enough to achieve the goals it seeks in the sector. Indeed, Nigeria has a huge potential for repositioning itself in the maritime field by tapping into the resources of the ocean. Recommendations were preferred on the basis of the research findings.