As $1.5trillion GDP prospect beckons: Nigeria told to enlarge body of laws expected from disputes in dawn of blue economy

…As expert shows how Nigeria can be ready

As hopes rise for Nigeria to hit $1.5trillion gross domestic product (GDP) from current $364bn through the blue economy in the coming years, the Federal Government has been advised to conduct a review and expansion of the nation’s body of maritime laws.

This is said to be necessary because of expected increase in disputes in the sector as the economy prepares to expand exponentially.

The advice was handed down in Port Harcourt, Rivers State capital, by the body of maritime lawyers known as Admiralty Lawyers Society led by the president, Angus Obinna Chukwuka.

The top maritime law expert was delivering the first technical paper at the ‘Sustainable Blue Economy Ecosystem Conference’ organized by Alfa City Institution held at the Hotel Presidential in the Garden City Wednesday, November 27, 2024.

Chukwuka who said the blue economy is not new because it was it has so far operated as maritime economy said the laws guiding the sector had been codified in Britain in the 19th century (1894) and brought down to Lagos Nigeria about 1956 but became a revenue court in 1973.

A major review he proposed is removing Maritime issues from the exclusive list in the 1999 constitution to recurrent list to allow state high courts to entertain some cases instead of taking all disputes to the federal high court in the first instance.

Read also: FG to develop a national policy for marine, blue economy sector

The expert who pointed to many problems militating against Nigeria’s emergence as a global blue economy despite many prospects said blue tourism is one the biggest potentials waiting for Nigeria.

Chukwuka said Nigeria is blessed with a coastline of approximately 853 Km long which stretches along the Atlantic Ocean and the Gulf of Guinea. “The total surface area of Nigeria’s inland waters is approximately 14.9m hectares which approximates to about 10 km of inland waterways. This makes Nigeria a truly maritime hub.”

He listed various sectors of the blue economy that could propel Nigeria to a global economic power if carefully harnessed under the blue economy platform.

Soji Adeleye, CEO of Alfe City Institution and convener of the seminar, said blue economy holds solution to all Nigeria’s economic woes. He said this is because the huge economy is capable of providing all the jobs Nigerian youth want and expand the GDP of Nigeria by over four times to $1.5trillion.

The Alfe City Institution is said to be the result of efforts to chart a path for Nigeria’s maritime industry into an encompassing platform known as the blue economy.

The expert whose submission over the last four years are believed to have led to the setting up of the Ministry of Maritime and Blue Economy, said the institution was anxiously waiting to see the new FG policy on the Blue Economy announced by the Minister the previous day.

Highlight of day one of the workshop was a panel discussion that focused providing answers by stakeholders and presentation on the Lagos-Calabar Super Highway which was declared the single biggest and most important blue economy project.