Abuja-based Baze University has advocated for greater financial commitment toward Nigeria’s blue economy, emphasizing that the nation’s vast water resources can significantly boost entrepreneurship, employment, and overall financial development if backed by proper funding and actionable policies.
A professor at the university, Pauline Onyeukwu, made the call on Tuesday while delivering the institution’s eighth inaugural lecture, titled “Blue Economy and Blue Entrepreneurship: Popular Error and Unpopular Truth.”
Onyeukwu said Nigeria’s rivers, lakes, streams and dams offered significant economic opportunities that could be harnessed through innovation, private investment and government support.
She, however, warned that the country could not fully realise the sector’s potential without substantial public investment and entrepreneurs willing to develop viable businesses around aquatic resources.
“The blue economy is capital-intensive. It needs the support of the federal government to be able to achieve what we are looking for,” she said.
The professor explained that while the blue economy provides a broader framework for the sustainable use of aquatic resources, blue entrepreneurship focuses on developing businesses and innovative solutions around those resources.
She said the availability of natural resources alone would not guarantee economic development without investment, enterprise and policies that encourage sustainable exploitation.
Onyeukwu urged Nigerian youths and women to explore opportunities in the sector, rather than depend exclusively on conventional employment.
“I want to tell Nigerian youths that you do not go to school simply to wait for the future. You must become an entrepreneur, employ yourself and do something for yourself,” she said.
She also cautioned against treating aquatic resources as inexhaustible, citing oil spills and erosion in the Niger Delta as examples of the environmental consequences of poor resource management.
She stressed that economic activities must be balanced with environmental protection to preserve resources for future generations.
In his welcome address, the Vice-Chancellor, Prof. Abiodun Adeniyi, said the blue economy deserved greater attention in Nigeria, noting its growing prominence in several countries, particularly in Asia.
What You Should Know
Baze University is pushing for a stronger focus on Nigeria’s blue economy—which involves utilizing rivers, lakes, streams, and oceans for economic gains. Experts at the institution argue that natural water resources alone are not enough; they require heavy financial investment and skilled entrepreneurs to yield results.
- Positive Impact: Unlocking the blue economy can create alternative career paths, boost business opportunities for youths and women, and reduce reliance on traditional employment and oil revenue.
- Potential Concerns: The sector requires massive capital and strict environmental regulation to prevent ecological disasters like oil spills and severe erosion, similar to issues seen in the Niger Delta.
