The National Assembly of Nigeria has set a target for the maritime sector to contribute 20% of the nation’s gross domestic product (GDP) by 2024, according to a statement by Abdussamad Dasuki, Chairman of the House Committee on Shipping Services.
Dasuki announced this ambitious goal at a special performance retreat hosted by the Nigerian Shippers’ Council in Lagos. The retreat, titled “Strengthening Economic Regulation of the Marine and Blue Economy,” aimed to find ways to unlock the massive potential of Nigeria’s marine and maritime resources.
Despite Nigeria having extensive coastlines and abundant maritime assets, Dasuki lamented that the sector currently accounts for less than 1% of the national GDP. He pledged that regulators and policymakers would take all necessary actions to transform the situation and drive rapid growth.
Key plans highlighted include providing legal backing to enhance the Nigerian Shippers’ Council’s capacity for economic regulation and establishing a Nigerian Shipping Commission Council. Additionally, stakeholders would collaborate closely to strengthen governance, improve equitability in practices, and formulate strategic policies for marine and blue economy advancement.
The Executive Secretary and CEO of the Council, Akutah Ukeima, reiterated that optimising Nigeria’s maritime, marine, and inland waterway assets offers tremendous opportunities for sustainable development and national prosperity.
By convening policymakers, regulators, and industry experts, the retreat represents a significant step towards building a thriving, equitable, and globally competitive blue economy sector that could realistically contribute 20% of the national GDP by 2024.