Baze University seeks investment to unlock Nigeria’s blue economy

Baze University in Abuja has called for increased investment in Nigeria's blue economy, asserting that the country's aquatic resources could spur job creation, entrepreneurship, and economic growth if properly funded and supported by effective policies. Professor Pauline Onyeukwu, delivering the institution's eighth inaugural lecture, emphasized that Nigeria's rivers, lakes, streams, and dams hold significant economic potential that could be unlocked through innovation, private investment, and government support.

However, she cautioned that harnessing this potential requires substantial public investment and entrepreneurs committed to developing viable businesses around aquatic resources.

Onyeukwu clarified that while the blue economy offers a framework for sustainable use of aquatic resources, blue entrepreneurship specifically involves creating businesses and innovative solutions around those resources. She stressed that the mere presence of natural resources is insufficient for economic development without corresponding investment, enterprise, and supportive policies.

The professor encouraged Nigerian youths and women to explore opportunities in the sector, urging them not to rely solely on traditional employment. She cautioned against the environmental degradation associated with overexploitation, citing oil spills and erosion in the Niger Delta as examples of the negative consequences of poor resource management. Onyeukwu emphasized the importance of balancing economic activities with environmental protection to ensure the sustainability of resources for future generations.

Vice-Chancellor Prof. Abiodun Adeniyi welcomed the call for greater attention to the blue economy, noting its increasing importance in countries worldwide, particularly in Asia.