Nigeria’s vast ocean resources hold tremendous potential to boost the global economy by $1.5 trillion, according to Professor Charles Ogbulogo, Vice-Chancellor of Maduka University. This surge could be achieved through the development of a sustainable “blue economy.”
Professor Ogbulogo, speaking at the Crown Maritime Academy convocation, highlighted the blue economy’s potential to create over 30 million jobs and provide a critical protein source for over 3 billion people worldwide.
The Blue Economy: A Sustainable Future
The blue economy focuses on utilizing ocean resources for economic growth, improved livelihoods, and job creation, all while safeguarding the health of marine ecosystems. It’s essentially a sustainable approach to ocean business.
Shifting Tides: From Brick-and- Mortar to the Knowledge and Blue Economy
Professor Ogbulogo emphasized the global shift from traditional brick-and-mortar businesses to a knowledge-based economy, encompassing care, green initiatives, and the blue economy. He expressed concern that developing nations might fall behind in this transition, as has happened with previous economic paradigm shifts.