Lagos, Nigeria’s economic powerhouse, is charting a new course in the blue economy, estimated to be worth more than US $1.5 trillion per year globally and projected to increase to US $15.5 trillion by 2050. The Africa Blue Economy Strategy estimates that the blue economy currently generates nearly US $300 billion for the continent, creating 49 million jobs in the process, with projections to hit US $405 billion by 2030.
This shift promises to drive sustainable development while balancing environmental and economic concerns, according to key stakeholders at the recent launch of a book titled “The Renaissance of Ehingbeti in the Lagos Blue Economy” and the inauguration of the second Ehingbeti Blue Economy project in Lagos.
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Speaking at the event, Adegboyega Oyetola, Nigeria’s Minister of Marine and Blue Economy, highlighted the importance of the blue economy for both Lagos and the nation.
Oyetola, represented by Dayo Mobereola, Director-General of the Nigerian Maritime Administration and Safety Agency (NIMASA), also said “it is essential that we recognise the role of the blue economy in shaping the future of Lagos and Nigeria as a whole. This new approach goes beyond traditional exploitation to a holistic model that considers environmental, social, and economic impacts.”
Similarly, Wasiu Eshilokun Sanni, Senator representing Lagos Central and Chairman of the Senate Committee on Marine Transport, said, “Ehingbeti is no doubt synonymous with economic prosperity, especially in Lagos State. This is one of the reasons that Lagos state adopted the name and made it to symbolise the margin of both public and private initiatives towards stimulating avenues for investment in the state.”
Also at the event, Bola Oyebamiji, Managing Director of the National Inland Waterways Authority (NIWA), represented by Sarat Briamah, the Lagos Area Manager for NIWA, reinforced the need for private sector involvement. “This initiative is part of our deliberate plans to open up new opportunities to maximize the full economic potential of the nation’s waterways,” he stated.
Ehingbeti: A Blueprint for Lagos’ Blue Economy
According to Violet Olaitan Williams, President of the Ocean Ambassadors Foundation and convener of the Ehingbeti Maritime Hub, “Lagos has always been a city of resilience and potential. Today, as we celebrate the Renaissance of Ehingbeti, we are not just acknowledging the past, but charting a new course for the future deeply intertwined with the principles of the blue economy,” Williams said.
She described the newly launched book as a “blueprint for the future,” offering insights into the opportunities and challenges of Lagos’ waterways. “This project will focus on sustainable fisheries, renewable marine energy, maritime transport, and eco-tourism, creating jobs while preserving the health of our marine ecosystem,” she added.
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Adding his voice, Tajudeen Oluyole Olusi, Chairman of the Governor’s Advisory Committee of Lagos State, recounted the historical role Ehingbeti played in fostering trade and interaction with the international community while
The event featured goodwill messages from key figures including Toyin Ogunlana, Director-General of LASRAB; Abimbola Akinajo, Managing Director of LAMATA; Sunday Michael Umoren, Secretary-General of the Abuja MOU on Port State Control; Oritsematosan Edodo-Emore, President of WIMOWCA, Nigeria branch; and representatives from CCECC, all expressing their readiness for partnerships vital to unlocking and scaling Nigeria’s Blue Economy potentials.
The event concluded with awards recognising individuals who have played pivotal roles in advancing Nigeria’s blue economy.
