Tinubu Seeks Regional and Global Alliance in Maritime Investment

• President Tinubu urged countries, especially in Africa, to explore investment opportunities in Nigeria’s blue economy for a secure maritime future
• He emphasized that achieving a strong blue economy requires a “progressive naval force” and collaborative commitment from the Nigerian Navy and international partners

President Bola Ahmed Tinubu has invited countries, especially those in Africa, to explore the investment opportunities in Nigeria’s blue economy. He also urged the Nigerian Navy and other stakeholders to work towards a secure and prosperous maritime future, emphasizing Nigeria’s responsibilities to Africa and the world.

Speaking at the 2024 International Maritime Conference at the Naval Dockyard in Lagos, the president, represented by Vice President Kashim Shettima, highlighted the importance of a strong blue economy. He stated that achieving this requires a “progressive naval force.” He called on the Nigerian Navy and its international partners to commit to this goal, referring to them as “the lifeguards of our maritime environment.”

President Tinubu emphasized, “This conference must inspire all stakeholders to see the big picture—that we cannot afford to fail in our responsibilities to the continent and the world. Let us work towards a maritime future that is secure, prosperous, sustainable, and beneficial to all.”

He encouraged attendees to take advantage of the investment opportunities in Nigeria’s blue economy, noting that Africa’s wealth depends on protecting and developing its maritime environment. The global blue economy is valued at over $1.5 trillion annually and is expected to reach $15.5 trillion by 2050. Africa’s blue economy currently generates nearly $300 billion and provides 49 million jobs, with projections to reach $405 billion by 2030.

President Tinubu congratulated the Nigerian Navy on its 68th anniversary, praising their service as a “critical pillar of our security” and for maintaining “balance and stability” in the country.

Earlier, the Chief of Naval Staff, Vice Admiral Ogalla, stated that the outcomes of the 2024 International Maritime Conference, held to commemorate the Navy’s 68th anniversary, would enhance the Navy’s capabilities and strengthen collaborations to protect the nation’s maritime environment. He added that the forum would support the development of the blue economy at national, regional, and continental levels.