Experts and stakeholders at the 4th Ehingbeti Maritime Hub Summit have called for a dedicated Coastal Resilience Fund to support coastal protection, infrastructure development, and community empowerment across Nigeria. The summit, held in Lagos, brought together stakeholders to examine the legal, regulatory, security, and investment frameworks required to unlock Nigeria's blue economy potential and promote sustainable coastal development.
The President of the Maritime Arbitrators Association of Nigeria, Jean Anishere, SAN, delivered the keynote address, emphasizing the need for a dedicated financing mechanism to address infrastructure deficits and improve living conditions in coastal communities. Anishere urged Nigeria to explore international financing opportunities through climate funds, development banks, and multilateral organizations to scale up coastal resilience and community development.
Anishere stressed that Nigeria's blue economy must be underpinned by effective governance, noting that the country needs to establish the legal and institutional conditions required for innovation, investment, and sustainable exploitation of marine resources. She called for a regulatory system that provides certainty and security for investors while remaining flexible enough to encourage innovation and environmentally responsible enough to protect marine resources.
The Lagos State Government remains committed to an inclusive approach to blue economy development, according to the Permanent Secretary, Lagos State Ministry of Tourism, Arts and Culture, Mrs Bopo Oyekan-Ismaila. Representing Governor Babajide Sanwo-Olu, she noted that the state's blue economy development agenda would encompass communities across Lagos and encouraged participants to collaborate and develop a communiqué to advance the blue economy agenda.
The Convener of the Ehingbeti Maritime Hub and Founder of the Ocean Ambassadors Foundation, Olaitan Williams, said the Hub was established in 2023 to reconnect with Lagos' historical roots of maritime activities. Williams identified inland waterways as a low-hanging fruit of Nigeria's blue economy and called for greater investment and stronger legal protection for investors, noting that Nigeria's estimated 10,000 kilometers of waterways could not deliver their full economic potential if they remained largely unnavigable.
The summit also highlighted the need for stronger maritime regulation, effective enforcement of existing laws, and increased private-sector participation in blue tourism, resilient infrastructure, and marine-based enterprises. The Nigerian Navy reaffirmed its commitment to providing a secure maritime environment required for commerce, investment, and sustainable exploitation of Nigeria's maritime resources.
A major highlight of the summit was the official launch of the 28 Inland Waterways Investment Jigsaw, an initiative designed to highlight viable investment opportunities across Nigeria's inland waterways and provide a structured pathway for private-sector participation. The initiative aims to support efforts to identify investment opportunities and encourage greater private-sector involvement in water transportation and other marine-related businesses.
Key points
- Experts call for a dedicated Coastal Resilience Fund to support coastal protection, infrastructure development, and community empowerment in Nigeria.
- Effective governance and regulatory frameworks are necessary to unlock Nigeria's blue economy potential.
- Increased private-sector participation and investment in coastal resilience and marine-based enterprises are crucial for sustainable economic and social development.
