This National Policy on Marine and Blue Economy is a strategic framework designed to harness Nigeria’s vast marine and coastal resources to foster sustainable economic growth, inclusive prosperity and environmental protection, and to improve sustainable exploitation of ocean resources and position Nigeria as a leader in the marine and blue economy sector. The vision for this National Policy is to transform Nigeria into a major hub for maritime trade in Africa, as well as a global reference for sustainable marine and blue economy development practices, in order to promote economic development, social equity, and environmental stewardship, through a responsible utilisation of marine resources to protect biodiversity, while expanding and diversifying the country's marine-based industries such as fisheries, tourism, shipping and energy. The main goal of this Policy therefore is to provide a series of intents and strategic initiatives to sustainably accelerate the growth of Nigeria’s blue economy. Its objectives include to: stimulate economic growth and job creation by expanding maritime transport and related services, developing fisheries and aquaculture, and fostering blue economy industries; enhance and improve the socio-economic well-being of coastal and inland waterways communities; enhance resilience to climate change impacts through adaptation strategies, contributing to the overall sustainability and ecological integrity of marine ecosystems; stimulate strong international cooperation and diplomacy for the development of Nigeria’s blue economy; facilitate investment in the marine and blue economy and promote fair and transparent competition that prevents monopolistic practices by the industry players; ensure adequate security of the maritime assets and resources in the country through interministerial cooperation; support allied sectors of the economy such as energy infrastructure, food security, and industrialisation; improve the implementation of the United Nations Sustainable Development Goals.
The Policy also provides: a definition of Blue Economy; key principles guiding the development of the Policy including: preservation of Nigeria's maritime interests, alignment with international conventions and protocols, regional cooperation, protection of marine ecosystem, stakeholder engagement, inclusive wealth creation, strategic partnerships, adoption of sustainable technologies, specific measurable outcomes. Concerning important sectors covered, the Policy focuses on: maritime trade and transportation, including: port infrastructure and services, maritime transport, maritime security, maritime safety; fishing and aquaculture, including: artisanal fisheries management, coastal and deep sea fisheries, mariculture, aquaculture, fisheries and seafood processing; marine resources and industries, including: marine minerals, blue biotechnology, water desalination, underwater and deep sea cables and pipes; energy and marine environment sustainability, including: blue energy and renewables, marine pollution and waste management, blue carbon, green shipping; coastal development and coastal tourism improvement; capacity building.