Beyond Oil: How Nigeria Can Net Gains from the Blue Economy

​ABEOKUTA – As Nigeria grapples with the high cost of food and the drain of foreign exchange on frozen fish imports, a leading expert in aquaculture has called for a radical “scientific reset” of the nation’s aquatic strategy.

​Professor Yemi Akegbejo-Samsons, a renowned Professor of Aquaculture and Coastal Fisheries Management at the Federal University of Agriculture, Abeokuta (FUNAAB), asserts that Nigeria’s vast water resources are the “sleeping giants” of the national economy. Speaking at the second Leadership Lecture Series of the College of Environmental Resources Management (COLERM), the don argued that the country must look beyond maritime transport and crude oil to solve its food security crisis.

​A Decisive Shift from Rhetoric to Research

​While the Federal Government recently celebrated a landmark achievement—a 300,000-metric-tonne increase in domestic fish production in 2025—Prof. Akegbejo-Samsons warned that such gains can only be sustained through evidence-based policy rather than political rhetoric.

​”The establishment of the Federal Ministry of Marine and Blue Economy in 2023 was a commendable milestone,” Akegbejo-Samsons noted. “However, it must be strengthened by clearer policy direction and a stronger scientific grounding. Decisions must be rooted in research and data, not just administrative convenience.”

​The Professor emphasized that the “Blue Economy” is often misunderstood as merely “shipping and drilling.” Instead, he reframed it as a holistic framework that balances economic growth with social equity and environmental health.

​The Importation Burden

​Nigeria remains a net importer of fishery products, with annual demand estimated to hit 2.5 million metric tonnes by 2030. Despite the 2025 production spike—the first significant rise in over a decade—the gap between demand and local supply remains a multi-million-dollar leak in the national budget.

​Akegbejo-Samsons argued that by harnessing the Exclusive Economic Zone (EEZ) and inland waterways through sustainable aquaculture, Nigeria could not only eliminate this import dependency but also create three million jobs within the next four years, aligning with current federal targets.

​The Role of the Academia

​The lecture, titled “Nigeria’s Blue Economy: Beyond Marine Transportation, Oil and Gas,” served as a call to arms for Nigerian universities. According to the don, institutions like FUNAAB and its Centre of Excellence in Agricultural Development and Sustainable Environment (CEADESE) are strategic assets that the government must consult for manpower development and technological innovation.

ADVERTISEMENT

​Endorsing this view, the Vice-Chancellor of FUNAAB, Professor Babatunde Kehinde, represented by Deputy Vice-Chancellor (Academic) Professor Olusegun Idowu, reaffirmed the university’s commitment to “translating academic research into practical solutions.” He urged researchers to ensure their findings influence public policy directly rather than gathering dust on library shelves.

​The Path Forward

​To achieve the $1 trillion GDP target set for 2026, experts at the forum agreed that the Blue Economy must become a primary driver of resilience. Earlier, the Dean of COLERM, Prof. Olusegun Oguntoke, underscored the college’s role in leading the conversation on resource governance and climate resilience.

​As Nigeria enters a “decisive phase of renewal” in its maritime and aquatic sectors, the message from Abeokuta is clear: the path to food sovereignty is paved with scientific expertise and the strategic management of every drop of Nigeria’s water.