Africa risks losing $300bn to blue economy neglect- BRACED Chair

The Chairman, Board of Trustees of the South South regional tourism body, BRACED Tourism Promotion & Development Initiative (BTPDI), and Convener of the Africa Blue Economy Roundtable, Dr Piriye Kiyaramo, has raised concern over the low level of attention given to the blue economy by state governments in Nigeria.

Speaking with journalists in Port Harcourt on Thursday, Dr Kiyaramo said the fundamental challenge facing coastal states is the failure to prioritise the maritime sector despite its huge potential for economic growth, jobs, and climate resilience.

He explained that the blue economy refers to the sustainable use of ocean and aquatic resources for economic growth, improved coastal livelihoods, and environmental sustainability, reiterating that “For Africa, the sector holds an estimated potential value of over $300 billion annually.”

For Nigeria’s six coastal South states, Bayelsa, Rivers, Akwa Ibom, Cross River, Edo and Delta, Dr Kiyaramo, who is the Publisher of the Blue Economy Newsmagazine, described the blue economy as a direct engine of prosperity, driving revenue and employment through fisheries, aquaculture, ports, shipping, marine tourism, and marine energy.

The former Senior Special Assistant to the Bayelsa State Government on Tourism and, currently, Special Assistant to the MD/CEO of the Niger Delta Basin Development Authority (NDBDA) noted that the sector also underpins food security for over 200 million Africans and facilitates more than 90% of the continent’s trade by volume, informing that coastal ecosystems such as mangroves further strengthen climate resilience.

He added that landlocked countries also benefit significantly from the blue economy. “Well-governed ports and transport corridors can reduce trade costs by up to 50%. Shared water bodies like Lakes Victoria, Tanganyika, and Chad support fisheries, inland transport, and tourism that sustain landlocked economies.”

Citing frameworks such as the AU 2050 Africa’s Integrated Maritime Strategy and the AfCFTA, Dr Kiyaramo stressed that coastal and landlocked states are economically intertwined.

“In essence, a strong and well-governed maritime sector is not the sole concern of coastal states. It is a continental imperative. When governments invest seriously in the maritime domain, both coastal and landlocked countries gain, through cheaper trade, stronger regional integration and shared prosperity,” he concluded.