Experts and maritime stakeholders have called for the establishment of a dedicated Coastal Resilience Fund to finance coastal protection, infrastructure development and community empowerment across Nigeria.

The call was made at the 4th Ehingbeti Maritime Hub Summit in Lagos, where participants examined the legal, regulatory, security and investment frameworks needed to unlock the country’s blue economy potential and advance sustainable coastal development.

Delivering the keynote address, the President of the Maritime Arbitrators Association of Nigeria, Jean Anishere, SAN, said, “A dedicated financing mechanism was necessary to address infrastructure deficits and improve the living conditions of people in coastal communities.”

Anishere also urged Nigeria to pursue international financing through climate funds, development banks and multilateral organisations to expand coastal resilience and community development.

She said sustained investment in coastal resilience would strengthen infrastructure, safeguard livelihoods and create conditions that would allow coastal communities to participate meaningfully in the emerging blue economy.

Anishere further stressed that Nigeria’s blue economy required effective governance, saying the country needed the appropriate legal and institutional conditions to support innovation, investment and the sustainable exploitation of marine resources.

She advocated a regulatory framework that would provide certainty and security for investors while remaining flexible enough to support innovation, environmentally responsible enough to safeguard marine resources and inclusive enough to benefit coastal populations.

According to Anishere, security, sustainability and governance were critical pillars for the future development of Nigeria’s blue economy.

She also called for better waste-management infrastructure, sustainable fishing practices, recycling education and environmental stewardship initiatives that would directly benefit coastal communities.

Anishere urged increased private-sector participation in blue tourism, resilient infrastructure and marine-based enterprises, supported by appropriate incentives, streamlined regulations and public-private partnerships.

Representing the Lagos State Governor, Mr Babajide Sanwo-Olu, the Permanent Secretary, Lagos State Ministry of Tourism, Arts and Culture, Mrs Bopo Oyekan-Ismaila, said the state remained committed to an inclusive approach to blue economy development.

She explained that although Ehingbeti’s history was closely linked to Lagos Island, Lagos State’s blue economy agenda would extend to communities across the state.

According to her, Governor Sanwo-Olu encouraged participants to work together and produce a communiqué capable of advancing the blue economy agenda of Lagos State.

The Convener of the Ehingbeti Maritime Hub and Founder of the Ocean Ambassadors Foundation, Olaitan Williams, said the Hub was established in 2023 to trace and reconnect with the historical roots of maritime activities in Lagos.

Williams described Ehingbeti as an important part of Lagos’ evolution from its early trading history to modern-day Eko.

She identified inland waterways as one of Nigeria’s low-hanging fruits in the blue economy and called for increased investment alongside stronger legal protection for investors.

Williams said Nigeria’s estimated 10,000 kilometres of waterways could not realise their full economic potential if they remained largely unnavigable.

The Chairman of the occasion and Chairman of the NIWA Governing Board, Mukhtar Shehu Shagari, represented by NIWA Board Member, Capt. Tajudeen Alao, commended the convener for her commitment to developing Nigeria’s marine and blue economy.

Shagari stressed that coastal communities should remain central to the implementation of blue economy policies. He also advocated an appropriate legal framework for the development of Nigeria’s littoral states.

Representing the Flag Officer Commanding, Western Naval Command, Rear Admiral Abubakar Mustapha, Rear Admiral N.C. Okon called for stronger maritime regulation and effective enforcement of existing laws.

Okon identified sea blindness as one of the factors limiting Nigeria’s ability to fully harness its maritime potential. He stressed the importance of collaboration among government agencies, coastal communities and development partners.

He said a thriving blue economy could not be sustained amid insecurity, environmental degradation, illicit activities and regulatory uncertainty.

The Naval representative reaffirmed the Nigerian Navy’s commitment to maintaining the secure maritime environment required for commerce, investment and the sustainable exploitation of Nigeria’s maritime resources.

Also speaking, Chairman of the Nigerian Council of Registered Insurance Brokers, Ekeoma Ezeibe, described insurance as a critical component of maritime and blue economy development.

She said adequate insurance protection was necessary to safeguard maritime assets, infrastructure and businesses from the multiple risks associated with the sector.

A key highlight of the summit was the official launch of the 28 Inland Waterways Investment Jigsaw, an initiative aimed at showcasing viable investment opportunities across Nigeria’s inland waterways and creating a structured pathway for private-sector participation.

The initiative is expected to support efforts to identify investment opportunities across the country’s inland waterways while promoting greater private-sector involvement in water transportation and other marine-related businesses.

The 4th Ehingbeti Maritime Hub Summit attracted government representatives, maritime professionals, security stakeholders, legal practitioners, insurers, traditional rulers, academics, private-sector operators and representatives of coastal communities.

The summit reaffirmed the need for stronger regulation, maritime security, sustainable financing, infrastructure development and community inclusion as Nigeria works to translate its blue economy potential into sustainable economic and social development.:

Source: Punch