The Special Adviser to the Lagos State Governor on Blue Economy, Damilola Emmanuel, says the state’s blue economy has the potential to generate between ₦300 billion and ₦500 billion annually if fully developed.
Emmanuel disclosed this during a radio interview, noting that Lagos holds significant opportunities across inland waterways transportation, fisheries, aquaculture, coastal tourism, and port operations.
According to him, Lagos, as a coastal state, already possesses vast blue economy assets but requires better coordination and investment to fully harness them. He noted that global attention is shifting from green finance to blue bonds, presenting new opportunities for revenue generation and sustainable development.
The adviser revealed that the state has secured about €10 million in funding through the French Government to boost inland water transportation, while ongoing rehabilitation of major ports is expected to improve cargo movement and reduce logistics challenges.
He explained that improved water transport and port infrastructure would enhance business productivity, reduce traffic congestion, and create employment opportunities across multiple sectors.
On tourism, Emmanuel said Lagos plans to develop maritime hubs and coastal destinations capable of attracting international visitors, similar to global tourist centres, thereby increasing revenue and global visibility for the state.
He dismissed concerns that Lagos was late in embracing the blue economy, insisting the state remains at the forefront of innovation in Nigeria and West Africa.
The Special Adviser also emphasised strong collaboration between the state and federal agencies, noting that effective coordination is key to maximising the benefits of the sector.
On infrastructure, he highlighted ongoing investments in jetties, terminals, ferries, and patrol boats, including the introduction of Africa’s first electric ferry developed in Lagos.
Addressing environmental concerns, Emmanuel stressed the need for collective responsibility in tackling water pollution, noting that most waste in waterways originates from improper disposal on land. He also said the government is working with relevant agencies to enforce environmental regulations and maintain cleaner waterways.
He further assured that plans are underway to identify and remove wrecks obstructing inland waterways, while also developing strategies to support local fishermen through better data management and allocation of fishing zones.
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