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SME Guide

Nigeria’s Blue Economy: A $1.5 Trillion Opportunity for Jobs, Food, and Sustainability

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.

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