Nigeria loses about ₦33.3 trillion annually to untapped blue economy potential due to the underutilisation of its extensive coastal and inland waters, which function as disparate systems rather than a unified economic engine (Deloitte, 2022). Oceans, seas, and inland waters form the backbone of a marine and blue economy that generated about $2.6 trillion in gross value added in 2020 according to recent Organisation for Economic Cooperation and Development (OECD) assessments. This reflects a continued global expansion supported by updated economic modelling (OECD, 2024). It is also projected that by 2030, socio-economic activities facilitated by the maritime environment would be worth over 34.2 trillion dollars yearly, with the potential to generate about 300 million jobs worldwide (World Bank, 2017).
