Baze University, Abuja, has called for increased investment in Nigeria’s blue economy, saying the country’s aquatic resources could drive job creation, entrepreneurship and economic growth if supported by adequate funding and effective 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.
UPDATE NEWS:
Nigerians can now invest ₦2.5 million on premium domains and profit about ₦17-₦25 million. All earnings paid in US Dollars. Rather than wonder, click here to find out how it works.