FG REAFFIRMS COMMITMENT TO SUSTAINABLE PRACTICES IN BLUE ECONOMY DEVELOPMENT
The Federal Government has reaffirmed its commitment to sustainable and climate-responsive initiatives as core pillars for the development of Nigeria’s marine and blue economy.
The Permanent Secretary, Federal Ministry of Marine and Blue Economy (FMMBE), Mrs. Fatima Sugra Tabi’a Mahmood, stated this while receiving a delegation from Invest International, a state-owned development finance institution under the Dutch Ministry of Finance, led by Ms. Fenna Zoe Howkamp.
Mrs. Mahmood noted that the Ministry is actively integrating climate considerations into its policies and programmes, with a strong focus on reducing carbon footprints, conserving marine ecosystems, and promoting environmentally responsible resource utilisation.
In a statement issued by Anastasia Ogbonna, the Ministry’s Director of Information and Public Relations, she observed that global attention is increasingly shifting towards the sustainable exploration of marine resources, including emerging areas such as marine mining.
According to her, Nigeria is aligning with international best practices to ensure that such activities are undertaken without adverse environmental impact, while safeguarding critical ecosystems, including coral reefs.
She identified fisheries as a priority subsector, underscoring its key role in boosting food and nutrition security and creating jobs. While acknowledging Nigeria’s vast marine and freshwater resources, she highlighted significant opportunities for investment and growth in the subsector.
The Permanent Secretary reiterated the Ministry’s openness to strategic partnerships, particularly in port services and marine infrastructure, to unlock long-term investment required for sustainable development. She assured the delegation of Nigeria’s readiness to collaborate with international partners to drive innovation, investment, and sustainability in the blue economy.
In her remarks, the Head of Public Finance, Invest International (Southern Africa Region, including Nigeria), Ms. Fenna Zoe Howkamp, reaffirmed the Netherlands’ commitment to deepening collaboration with the Federal Ministry of Marine and Blue Economy. She highlighted the organisation’s expertise in marine and water management and presented specific project proposals, including a coastal protection initiative with an accompanying feasibility study, as well as nature-based solutions for drainage and water supply systems.
Ms. Howkamp underscored the shared interest in developing resilient public infrastructure within the blue economy and expressed readiness to align proposed initiatives with the Ministry’s priority areas. She also outlined Invest International’s financing options, which include up to 35% funding support for public infrastructure projects valued between €100 million to €150 million.
According to her, such financing can be structured through co-financing arrangements with institutions such as the World Bank and the European Investment Bank, or through direct lending to the Ministry.
She called for sustained engagement to formalise feasibility studies and identify partners to advance coastal protection and other blue economy initiatives that promote sustainable, nature-based solutions for Nigeria’s coastal communities.
