The company said the funding round, one of the largest early-stage investments in Italy’s robotics and deep-tech sector, was led by Primo Capital alongside Techshop and 40Jemz Ventures. Several Italian and international angel investors also joined the round.

Founded in Italy, Mirai Robotics is building autonomous technologies designed for surveillance, monitoring and patrol activities at sea. The systems combine autonomous vehicles, sensing technology and control systems aimed at reducing operational risk and lowering costs in maritime operations.

The maritime sector is important in the global economy, with more than 80% of world trade moving by sea, while over 90% of Europe’s foreign trade depends on maritime routes. Subsea cables also carry about 95% of international internet traffic.

Despite its importance, maritime operations still rely heavily on manual processes. Operators face high operating costs, limited real-time monitoring and unignorable safety risks. At the same time, the industry is dealing with a shortage of skilled professionals and an ageing workforce among captains and vessel operators.

Mirai Robotics says its technology aims to address these gaps.

The company has already developed two autonomous vehicles designed for intelligence, surveillance and reconnaissance missions, as well as patrol activities in both coastal and offshore environments. 

The vehicles integrate perception systems, autonomous navigation, remote control functions and safety features. They can operate individually or as part of a coordinated fleet.

Alongside its own vehicles, the company also develops autonomy, navigation and control technologies that can be integrated into third-party maritime platforms. This allows operators to introduce autonomous capabilities without redesigning existing fleets.

Mirai Robotics follows a dual-use model, meaning its technologies can serve both civil and institutional applications.

The company was founded by Luciano Belviso, Luca Mascaro and Davide Dattoli.

Belviso previously built and led industrial companies, including Blackshape, an aircraft design and manufacturing company later acquired by Angel Holding. 

Mascaro founded Sketchin, a digital design firm later acquired by the BIP Group, where he served as Chief Innovation Officer. Dattoli is the founder of Talent Garden and an investor in the European technology ecosystem.

The company has also assembled a pan-European team with expertise in robotics, artificial intelligence and mission-critical systems. It works with universities and research centres across the region.

Mirai Robotics is headquartered in Puglia in southern Italy, a location the company chose for its proximity to Mediterranean maritime routes and industrial research centres.

The new funding will support further development of its technologies, expansion of the engineering team and pilot projects with industrial and institutional partners.

Luciano Belviso, CEO of Mirai Robotics, said, “The sea is one of the last major physical infrastructures not yet governed by software. Autonomy is the key to finally making the oceans safe and usable, unlocking enormous resources and addressing critical security challenges. But it must be implemented through systems capable of operating continuously and safely in extreme environments. This is a technological and industrial challenge that requires a true robotics-lab approach.”

Gianluca Dettori, whose firm led the investment, added, “The maritime domain is at an inflection point. We’re looking at a huge economy that still relies on operational models designed decades ago. The human capital gap alone, thousands of unfilled roles, ageing workforces, increasing operational risk, make the status quo unsustainable. 

“What Mirai Robotics is building isn’t just automation; it’s the fundamental infrastructure layer that will allow the blue economy to scale safely and efficiently. Italy’s shipbuilding heritage combined with this calibre of robotics and AI talent creates a genuinely unique opportunity.”

It was considered a call for sacrifice by the poor countries to mitigate projected risk to the global climate while the present state of the earth climate was to a considerable extent the consequence of uninhibited industrialization by the wealthy countries. It was thought unfair.

This is why the controversy over who pays for the stringent enforcement mechanisms remains unresolved.

On the other hand, the Blue Economy is a universal realization of the boundless resources of the ocean and how we can all use this to improve the livelihoods of all people in a sustainable way.

In this case, the application of the principle is case specific as the developmental requirements of each country is unique to each one as we might as well be on different planets in terms of economic conditions. What Norway needs for instance is not what Nigeria need.

Nigeria’s Blue Economy holds untapped potential to become the primary driver of economic diversification, job creation, and sustainable development.

For the purpose of Nigeria’s unique economic goals, it is important to de-emphasize Marine and underline BLUE because it’s already in it, it is a component.

Blue is inclusive, symbolic and serve the maximalist interpretation of Nigeria’s own Sustainable Blue Economy objectives.

Let’s look at the outlines of a strategy to develop ten new ports as dynamic economic growth centers, integrated with transport corridors and industrial zones, targeting a national GDP expansion to $1.5 trillion plus in the short to medium term:

1. Rationale for a Blue Economy Maximalist Agenda with the Nigerian GDP hovering around $350 and $450 in the last few years for a population of over two hundred and twenty million:

Even a 20–25% increase in current port throughput, combined with sectoral diversification, could ripple across GDP metrics.

The multiplier effect in jobs, income, and investment could be huge if governance and policy coherence align.

• Nigeria has an 853 km coastline, underutilized for national productivity.
• Existing ports are overburdened; regional competitors have outpaced Nigeria in maritime logistics.
• Ten new ports would dramatically increase Nigeria’s cargo handling capacity.

This could:

• Attract regional transshipment business currently going to hubs like Lomé and Tema.
• Enable exports of value-added goods (not just raw commodities) via efficient logistics.
• Create jobs in port operations, logistics, customs, and maritime services.
• The African Continental Free Trade Area (AfCFTA) unlocks regional demand that Nigeria must meet or risk marginalization.

2. Strategic Pillars of economic Growth

A. Maritime Trade & Port Infrastructure

• Build ten ultra-modern deep-sea ports with smart port technology.
• Attract trans-shipment and transit trade from landlocked neighbours.
• Add – $150–$200 billion to GDP via logistics, trade, and maritime services.

B. Integrated Transportation Corridor

• Construct and modernize 10,000+ km of roads and rail from hinterlands to ports. Integrated Transportation Infrastructure

Linking ports seamlessly with rail, roads, and inland waterways reduces the cost of doing business across sectors:

• Agricultural producers in the north could access global markets more easily.
• Manufacturers could import raw materials faster and cheaper, boosting industrial output.
• Unlock inland trade, especially agriculture and manufacturing.
• Add – $180 billion to GDP through efficiency and productivity gains.

c. Industrialization via Special Economic Zones

• Cluster agro-processing, petrochemicals, tech, and shipbuilding near ports.
• Incentivize with tax breaks, infrastructure, and governance.
• Add – $350 billion to GDP while reducing imports and increasing exports.

d. Offshore Energy & Marine Resources

A robust Blue Economy isn’t just about ports:

• Expansion into offshore wind, tidal energy, seabed mining, and marine biotechnology opens new revenue streams.
• Better surveillance and maritime governance could curb illegal fishing and drive sustainable aquaculture.
• Develop offshore wind farms, blue hydrogen, fisheries, and coastal tourism.
• Reform maritime security and monitoring for sustainable exploitation.
• Add – $250 billion in GDP from energy diversification and marine enterprise.

e. Human Capital, Services & Innovation Developing SEZs around each new port with tax incentives and infrastructure would:

• Attract foreign direct investment (FDI).
• Spur clusters of industrial activity in shipbuilding, logistics tech, and agro-processing.
• Create 10+ million jobs across value chains.
• Establish maritime academies, R&D hubs, and marine tech startups.
• Add – $120 billion in GDP from services and tech-driven growth.

f. Regional Trade Integration

With AfCFTA now operational, these ports could serve as:

• Gateways for trade beyond ECOWAS—think Central Africa and Sahel countries.
• Hubs for intra-African value chains, reducing dependency on Europe or Asia.
• Position Nigeria as West and Central Africa’s logistics and trade hub.
• Leverage AfCFTA for value chain participation and export-led growth.
• Add – $150 billion in GDP through expanded regional influence.

g. Tourism and Blue-Tech Innovation

Coastal infrastructure could drive:

• Marine tourism, cruise terminals, waterfront development.
• Blue-tech R&D hubs in oceanography, coastal resilience, and smart port technologies.

3. Policy & Institutional Recommendations

Establish the Nigerian Blue Economy Commission to start with – a twenty first century autonomous entity for oversight and coherence.

A Bill has been introduced in the National Assembly – to ensure urgent passage of the bill the Federal Government should immediately push for enactment.

• Enact legislation for Blue Economy special status zones.
• Implement customs reform and digital port processes.
• Partner with private sector and multilateral lenders for infrastructure financing.

4. Comparative Insights – Learning from Global Blue Economy Champions

To accelerate Nigeria’s transformation into a Blue Economy powerhouse, international best practices offer valuable insights.

Key examples include:

• Seychelles: Pioneered Blue Bonds to finance marine sustainability.
• Norway: Showcased how ecosystem-based policies and marine data governance can enable oil, fisheries, and ocean tech to thrive in harmony.
• Gambia: Demonstrated that local, gender-inclusive aquaculture can rebuild ecosystems and empower communities.
• Morocco: Integrated food systems, climate resilience, and coastal regeneration through its Blue Belt.
• Portugal: Positioned itself as Europe’s blue-tech innovation hub with robust marine R&D.

Impact on GDP

1. Maritime Trade & Port Logistics

• New cargo volume: +300 million metric tons/year (conservative per-port estimate).
• Revenue channels: port fees, trade facilitation, container handling, freight forwarding.
• GDP Contribution: – $150–$200 billion

Multiplier effect: Enables broader trade-related services (banking, insurance, warehousing).

2. Integrated Transportation Corridors

• New rail + road linkages: – 10,000 km across key trade arteries.
• Productivity boost in agri-export & manufacturing supply chains.
• GDP Contribution: – $180 billion

Knock-on effect: Reduced transport costs could unlock inland GDP potential by 2–3%.

3. Industrial Hubs & Special Economic Zones (SEZs)

Located adjacent to new ports; focus on value-addition industries like agro-processing, petrochemicals, shipbuilding.

• Target: 15–20% of GDP via non-oil sectors.
• GDP Contribution: – $350 billion

Game changer: Drives FDI, reduces import dependency, boosts job creation.

4. Offshore Energy & Marine Economy

• New sectors: Offshore wind farms, gas pipelines, blue hydrogen, seabed minerals.
• Revitalized sectors: Fisheries, aquaculture, coastal tourism.
• GDP Contribution: – $250 billion

Strategic impact: Diversifies exports beyond hydrocarbons.

5. Employment, Services & Tech Innovation

• Direct + indirect jobs: – 10 million.
• Rise of maritime universities, ocean sciences, marine insurance, and blue-tech startups.
• GDP Contribution: – $120 billion

Social dividend: Builds human capital & stabilizes coastal economies.

6. Regional Trade & AfCFTA Integration

• Nigeria as a logistics + manufacturing hub for Sahel, Central Africa.
• Transit trade with landlocked neighbors (e.g., Chad, Niger).
• GDP Contribution: – $150 billion

Policy lever: Leverages AfCFTA to expand Nigeria’s market footprint exponentially.

Summing it UP –

Growth Driver Est. GDP CONTRIBUTION –

Maritime Trade & Port Logistics $150–$200B

Integrated Transport Infrastructure $180B

SEZs & Industrial Hubs $350B

Offshore Energy & Marine Resources $250B

Services, Employment & Blue-Tech $120B

AfCFTA-enabled Regional Trade $150B

Total (Illustrative Projection) $1.2–$1.5 trillion on top of the current GDP.

This projection hinges on speed, scale, coordination, and policy discipline—a Marshall Plan–style transformation with Nigerian ingenuity at the helm.

By adapting these approaches, Nigeria can develop a tailored, indigenous model of success—grounded in innovation, equity, and environmental stewardship.

Global Lessons Mapped to Nigeria’s Vision:

Key Takeaways for Nigeria

Combine Conservation + Commerce: Like Seychelles, Nigeria can balance ecological protection with economic use of maritime spaces.

Empower Coastal Communities: Harness the energy and knowledge of fishers, women, and youth like The Gambia did—with financing, training, and formalization.

Prioritize Science & Policy Integration: Nigeria’s maritime future needs strong ocean data, research institutions, and legal frameworks—echoing Norway and Portugal.

Scale Coastal Resilience: Morocco’s Blue Belt shows how coastal restoration, aquaculture, and climate adaptation can be economically viable.

Conclusively, a Nigerian Blue Economy more than any other policy initiatives provides the country the most singular and unique opportunity to confront most of its headline economic challenges, low productivity, unemployment, transportation infrastructural deficit, absence of enough centers of economic growth and sustainable development that none of the patch works initiatives can address.

Building ten new modern ports creates the flag poles for this bold design that would be visible to the generations that are coming behind. It would be difficult for a sensible person to understand how and why Lagos remains the only place young aspiring graduating children think of going to better their prospects in life for a county as large as Nigeria. It’s really sad.

There are already policy discussions about deep sea ports in nearly all the littoral states and in most cases remains just that, Paper talk.

Reason why consistently in all our (Alfe City Institution) advocacy series we have stressed the need for the National government to understand the littoral states are the staging posts and fulcrum of a sustainable Nigerian Blue Economy therefore must be fully integrated into the Blue Economy discuss.

The seriousness of this government about the Nigeria Blue Economy will be only made clear by the immediate establishment of the Nigerian Blue Economy Commission – a twenty first century establishment, an Institution that would be research driven, financial and technology savvy to anchor what is a pivotal policy that must be at the center of Nigerian economic universe.

It must put its enormous weight behind the NBEC Bill at the House of Representatives to this effect so that it  will methodically oversee the implementation of a sustainable Nigerian Blue Economy.

It is time to properly put Nigeria at the helm of Africa’s economic future and guarantee the coming generations of a  place to be proud of and assure their life prospect.

Enough of Japa!

*SOJI ADELEYE is the CEO of Alfe City Institution.

Akuta, made this known at a one-day Seminar on “Understanding the Structure and Functions of Regulatory Agencies in the Port System” organized by the  NSC, in Port Harcourt, Rivers State, yesterday,

In his keynote lecture delivered on his behalf by the Zonal Coordinator, NSC, South-south Zone, Jeremiah Okoliko said that the Ministry is currently developing a holistic new policy document for Blue Economy with issues of Port efficiency as its major focus.

According to him, to achieve this target, he noted, hindrances to efficient port operations are being identified and speedily removed and this is the reason why regulatory agencies in the port system must be able to understand its regulatory functions and work towards achieving results.

“There is no doubt that the initiative will relieve the unnecessary bottlenecks in the release of cargoes and enhance seamless operations to the benefit of Port service providers and users,” Okoliko said.

He further explained that the issue of freight differentials by cargo vessels and airlines coming to the Lagos route, ports, and Eastern route, Ports, identified lack of jobs and insecurity on Eastern waterways are the major causes, but assured that the Ministry of Blue Economy is not resting on its oars to addressing the menace to guarantee rounded efficiency in port business in the country.

“The issue of price differentials in terms of export has been lingering over time, The Federal Government has set up a committee on revitalization of Eastern Port, and from the report of the committee, the issue has been reduced but not completely eliminated.

‘There are indicators discovered to be affecting total removal of the Challenge such as the fact that cargo Airlines and Vessels rendering freight services consider coming to Eastern Ports and Southsouth areas to deliver goods as one way as the chances of getting jobs, goods from the back to Lagos is very slime, hence they charge double to cover the cost of to and fro.

‘Most exporters from the SouthEast and Southsouth prefer going to Lagos to look for other partners who they can join to export goods under a joint cargo in a single container for cheaper exportation cost

“Most of the Exporters prefer to go to Lagos to see if they can stuff their cargoes into one container or consolidate it in a container because of the price differential. That phenomenon has been there over time, it is difficult to ease it from the exporters, for that reason, any airplane or vessel coming to this part of the country charges double to cover both ways,” he concluded.

According to various experts who spoke at the sixth edition of the Taiwo Afolabi Annual Maritime (TAAM) Conference held at the University of Lagos, Nigeria needs to take seriously the issue of policies and stringent regulations that support environmental protection, economic efficiency, and social responsibility.

According to Dr Taiwo Afolabi, chairman, SIFAX Group, the industry needs to be strategic and decisive about sustainability as well as exploiting the range of business opportunities that the blue economy presents.

He said:

“There are diverse opportunities in the industry beyond the traditional shipping and port operations. The newly-created Ministry of Marine and Blue Economy has to expand its scope to provide policies and regulations that will guide investors’ foray into areas like coastal tourism and renewable energies. This, however, must be done in a sustainable manner that will protect the ocean ecosystem and provide benefits for the coming generations.”

Renowned maritime lawyer and keynote speaker, Dr. Emeka Akabogu, who Mr Victor Onyegbado represented, harped on the importance of achieving sustainable shipping as a nation, through ethical conduct, improved port operations and adequate legislation within the industry.

According to him, it is imperative to achieve this system in order to build a maritime industry that is functional, providing resources that transcends generations.

“Sustainable shipping is the backbone of a resilient and thriving global economy. We all know that shipping carries the bulk of world trade and it encompasses practices that ensure long-term health of our oceans while meeting the economic and logistical demands of global trade.

“The significance of the Nigerian Ministry of Marine and Blue Economy is not only timely but also crucial as we navigate the evolving dynamics of the global, regional, and sub-regional maritime industry. This ministry is pivotal for innovative policy development and sustainable practices that will drive Nigeria’s maritime sector forward”, he stressed.

Examining the state of the nation’s maritime ecosystem, Akabogu reiterated the need to draw up innovative approaches and diversified economic activities to drive growth and sustainability. He further explained that this was particularly important for the Ministry to consider as there are several other non-shipping stakeholders within the industry.

On his part, the former Director-General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Mr Temisan Omatseye emphasised the digitization of the industry as well as the development of a national maritime strategy.

He noted further that developing key performance indicators will have a positive impact on human capital development and service delivery.

“We need to move away from where the sector is dependent on human beings and begin to be a bit more AI-compliant in our processes.  Two, the industry is also due for a national maritime policy that will provide the roadmap for its development. Right now, Nigeria does not have an approved national maritime policy, which says clearly what our policies are, and also something that also powers what we call a national maritime strategy”, he stated.

The Conference, themed: “A Blueprint for Sustainable Shipping: The Significance of the Nigerian Ministry of Marine and Blue Economy” featured key discussions and interactive sessions amongst experts, industry key players, and students alike.

Dr. Afolabi, while delivering the 16th Convocation Lecture of the Ladoke Akintola University of Technology (LAUTECH), Ogbomoso on the topic “Towards a sustainable blue economy and marine development in Nigeria: trends, challenges and prospects”, noted that the country has many untapped opportunities in the maritime sector.

He said developing the country’s blue economy is now more imperative than ever due to the government’s policy of moving away from the largely one-product economy that Nigeria has been running for decades.

He said:

“Serious attention should be devoted to the development of our coastlines by the government as this could spur huge recreational and economic activities around such localities. Coastal tourism development has the potential to provide socio-economic benefits to Nigeria, especially during this period when the Nigerian government is trying to diversify the economy from being a predominantly crude oil-based economy to a multi-product economy, which can withstand the volatility in oil prices in the world market.

“One other lucrative sector within the blue economy concept is the opportunity for harvesting renewable energy. Renewable energies, such as wind, solar, hydro, and tidal energy, are energy alternatives to fossil fuels that can contribute to reducing the carbon footprint of the maritime sector.

“Offshore wind energy is also a real and promising form of renewable energy generated by offshore wind turbines, which makes it possible to take advantage of strong ocean winds for electricity generation later exported to land where it is consumed in several economic activities. In turn, solar energy can be used in power navigation and communication ships’ systems and equipment and those of other floating structures.”

Afolabi further noted that the country can learn from the experience of Phillipines which has deployed more seafarers in the global shipping business than any other country.

He said the country needs to develop a robust maritime educational curriculum that takes into cognizance technology, trends, and the dynamic nature of the industry.

Afolabi, however, cautioned that tapping the potential in the blue economy should be done responsibly and sustainably.

He identified some of the sustainable measures of using the country’s ocean resources. These include the promotion of sustainable aquaculture practices, modern environmental waste management, monitoring, control, and surveillance of Nigeria’s territorial waters, and improvement of maritime safety and security.

Others are the preservation of marine ecosystems, addressing the challenge of pollution in coastal areas, enactment of laws that promote the blue economy and proper regulation by relevant government agencies.

Oyetola, who was represented by Olufemi Oloruntola, his permanent secretary, made the call during his opening address at Abuja at a stakeholders’ consultative workshop on national blue economy strategy organized by the African Union for Inter-African Bureau for Animal Resources with funding from the Kingdom of Norway.

The minister noted that investment in research would pave the way for a more prosperous and sustainable future.

He therefore called for a continuous investment in research, innovation and technology to tackle climate change in the country.

The minister warned that marine resource over exploitation, habitat destruction, pollution, and climate change imperil ocean ecosystem health and resilience.

The Osun State former governor added that addressing the challenges required concerted efforts to promote responsible resource management, mitigate environmental impacts, and build resilience to climate change.

“This will help to build the potential to drive inclusive growth, create employment opportunities, and alleviate poverty, particularly in coastal and island communities.

“When we choose to harness the vast potential of our oceans sustainably, we can unlock new sources of economic value, such as fisheries, aquaculture, marine tourism, renewable energy, and biotechnology,” Oyetola said.

Also, speaking at the event, Babatunde Sule, the director of Maritime Services at the Federal Ministry of Marine and Blue Economy, emphasised the collective need to address climate change.

Sule stressed the importance of prioritising prevention to mitigate marine environment disasters and save lives.

I was at Gordon Resort Hotel by McCarthy Beach before, during, and after Christm​as, in giving expression to my annual personal retreat. For reasons connected to the global economic challenges, I had no White Christmas, but there’s so much to thank God for.

So, I seized the opportunity of the tranquillity of the Ethiope River’s bank at Urhuoka, Abraka, where a flourishing economy birthed more than a decade ago with the establishment of Gordon Resort Hotel by McCarthy Beach.

Ethiope River, Nigeria’s and one of Africa’s deepest inland waters and flagship blue/green body of waters, unlike the Nile, Congo, Niger rivers, took its course from a spring beneath a silk cotton tree in Umuaja, also in Delta State, and streaming through Abraka, Sapele and so on to empty into Benin River, the latter constituting a branch of the Niger River, and Niger itself bifurcating at some point to form Forcados River and River Nun, and all flowing into the Gulf of Guinea.

Beyond the support to life and humanity, I have been fascinated by body of waters after a fair defeat of childhood hydrophobia, but Nigeria’s new vision to harness and harvest the blue economy opened a new vista of learning and reflection to me while I was at Gordon/McCarthy resort.

Blue economy, in the conception of the European Union, relates to all activities connected to oceans, seas, and coasts.

The blue economy sector in Nigeria is valued at yielding $70 billion annually, which is slightly short of the estimated investment in the telecom sector in three decades.

Indeed, I saw the possibilities of Nigeria’s blue economy again while at McCarthy Beach, where people engaged in legitimate economic activities.

However, the potential of the sector is undermined by infrastructure deficit. For instance, going to McCarthy Beach, unarguably one of Nigeria’s largest and promising beaches can be tortuous after a flight to Warri.

The hitherto 40-minute drive from Warri to Abraka now takes over two hours. The best route, ostensibly a federal road, through Eku, is practically cut off, so drivers take a detour just before Eku because the popular route via EKu is no longer motorable.

The popular narrative is that the federal government directed the state government not to rehabilitate federal roads, perhaps because of the tendency of state governments to inflate the cost when requesting a refund from the federal government.

Whatever gave rise to the abandonment of the road from Warri through Eku to Abraka needs to be resolved quickly and the road fixed in the interest of the people and the gamut of the value chain benefits connected to the blue economy and related activities of other sectors interacting with the blue economy sector with evident multiplier effects.

The other infrastructural matters include security and power/energy (the elephants in the room). Yet, science has proved that there are legions and varieties of green energy sources in our clime, strains of which are derivable from blue resources. So, we can have a turn to leverage integration.

I don’t know the pattern and tempo of strategy set for the blue economy sector, but the prospects are undermined by infrastructure challenges.

The good thing is that there is a new vision by state actors, and stakeholders should be rallied to achieve the vision in the manner we are witnessing in the Communications and Digital Economy Sector.

May Nigeria flourish.

*Omoniyi Ibietan, PhD., is the Head, Media Relations at the Nigerian Communications Commission

In this piece, we will explore what Blue Economy means and expectations from the Ministry and the Minister in particular:

Blue Economy also referred to as Marine Economy, focuses in the sustainable development and utilization of ocean resources to promote economic growth, social well-being, and environmental stewardship.

The blue economy involves a wide range of economic sectors and activities that directly or indirectly depend on the ocean and its resources.

You should know that blue economy has become important today because of the significant potential of the ocean and coastal areas to contribute to economic prosperity and job creation.

It emphasizes the need to harness the economic opportunities offered by the ocean while ensuring the long-term health and sustainability of marine ecosystems.

Sectors

Many are not aware of the blue economy sectors that include traditional industries such as fisheries, aquaculture, shipping, and tourism, as well as emerging sectors like renewable energy, biotechnology, seabed mining, and marine biotechnology.

These sectors provide employment, generate revenue, and contribute to trade and economic growth.

The essence of the blue economy is rooted in sustainable development principles, which means that activities must be carried out in a way that maintains the health and resilience of marine ecosystems, minimizes environmental impacts, and supports the well-being of coastal communities.

Expectations from the Ministry

To promote the blue economy, the Ministry headed by Bunmi Tunji should work with organizations to explore the various strategies and initiatives, such as;

1. Coastal and marine tourism: Minister Tunji should lead the change towards developing sustainable tourism practices that minimize negative impacts on the environment and local communities.

2. Research & Development and innovation: The place of R&D in blue economy cannot be overemphasized. Thus, investing in scientific research, technological innovation, and capacity building to support sustainable development and enhance understanding of marine ecosystems.

3. Marine conservation and biodiversity protection: Establishing marine protected areas, conserving critical habitats, and promoting sustainable use of marine resources.

4. Sustainable fisheries management: Implementing measures to prevent overfishing, protect vulnerable species, and promote responsible fishing practices.

5. Renewable energy: Harnessing the power of the ocean through offshore wind farms, tidal and wave energy, and other forms of clean energy generation.

6. Integrated coastal zone management: Adopting comprehensive approaches to manage coastal areas, balancing economic development with conservation and community well-being.

More Opportunities

It is estimated that the total value of Blue Economy assets is $24 trillion. If Nigeria starts today to tap into this economy, there will be lots of opportunities for our teeming youth.

You are aware that the National Bureau of Statistics (NBS) current data shows unemployment rate in Nigeria is at 33.3% and annual inflation rate has reached 24.08%.

But we can take solace in the Commonwealth report that 350 million jobs globally, are linked to fishery alone. By implication, if Nigeria should harness its fishery sub-sector, there will be jobs and investments in that area.

And climate change related matters are there too. Marine Economy is one sector that can help to tackle issues related to this subject, if properly handled.

Now you understand that this Ministry and its agencies are expected to play critical role in revamping Nigeria’s economy.

Therefore, stakeholders should be involved the process of formulating policies, regulations, and initiatives to promote sustainable development and ensure the long-term viability of ocean resources.

[Feature Image Source]

Much like the Green Economy, the Blue Economy is a sustainable and equitable economic model working with nature and communities, but in this case, at sea rather than on land.

The ocean economy presents a massive opportunity for socio-economic development in Africa, but only if it takes place in a drastically less exploitative manner than has been the case up until now.

Where the Ocean Innovation Africa summit fits in

This kind of transition requires innovation in ocean-impact fields and integration between them, but moreover, if it is to happen within the time frame needed to contribute to Sustainable Development Goals (SDG) targets, it needs to be accelerated.

The Ocean Innovation Africa summit aims to inspire more ocean-conscious entrepreneurs, entice more private capital investment in the African blue economy, and catalyse collaboration on shared goals across ocean-impact fields.

This year saw the event return to a fully in-person gathering at the V&A Waterfront in Cape Town, as the official summit of The Ocean Race stopover in the city. What makes the event unique on the continent is the range of stakeholder groups that take part. The summit brings together the entire blue economy ecosystem, from political and industry leaders, investors, and NGOs, to entrepreneurs, community representatives and downstream beneficiaries.

The summit witnessed participation from 500 key stakeholders from 59 countries. The organisers and partners of the summit ensured financial support was provided to allow access to groups that may have been unable to attend otherwise. Notably, almost half of the audience consisted of delegates from 35 African countries. 

With deadlines for SDG targets fast approaching, it is not enough to discuss the challenges and opportunities posed by blue economy development. Ocean Innovation Africa is an outcomes-based summit.

Mornings are dedicated to inspiration, both by showcasing opportunity for ocean-impact entrepreneurs, and by sharing perspectives from action on the ground. Key topics are discussed between expert panels, providing insight for the sector-specific workshops held in the afternoons.

These workshops were facilitated by Ernst and Young South Africa, and chaired by sector experts from within the OIA partner network, and aimed at providing a platform for key stakeholders in each field to collaborate on shared goals.

Despite discussion groups of up to 20 at times, work shoppers and attendees alike shared diverse perspectives, questions, and experiences, not only informing future work but, in numerous cases resulting in direct actions based on cooperation between participants.

The event also saw partnership agreements supporting to the Africa Ocean innovation ecosystem forged between international support organisations, regional authorities, and Africa’s first ocean-impact accelerator, OceanHub Africa.

Over R200 000 in prizes were awarded to African ocean-impact startups that took part in pitch competitions at the summit, with finalists receiving additional mentorship and support to scale their enterprises, and with them, their impact, through the OceanHub Africa network.

Make_IT in Africa, a division of the German Development Fund GIZ, launched a Blue Economy Masterclass for ecosystem support organisations and business angels through the summit, and the IUCN, WEF-UpLink, and OceanHub Africa launched the first ”Great Blue Wall” ecopreneur challenge for seascape restoration and conservation in the Western Indian Ocean region.

Key speakers included H.E. Nancy Karigithu, Kenya’s Ambassador for Blue Economy and Maritime Affairs, and candidate in the next elections for Secretary General of the International Maritime Organisation, H.E Chileshe Kapwepwe, Secretary General of COMESA, Richard Brisius, Chairman of The Ocean Race, and Alderman James Vos, Mayoral Committee member for Economic Growth at City of Cape Town.

Get in on the action

The Ocean Innovation Africa community has gathered in strength and numbers over the last four years as the African blue economy movement gathers momentum.

Partners like those mentioned above, along with Schmidt Marine Technology Partners, Dassault Systemes, Builders Vision, and WESGRO, facilitate such growth and next year’s event promises to be the most exciting yet.

Save the week of the 19^th of February 2024 for Africa’s foremost blue economy event.