By Barbara Nwaiwu
The Chairman of the BRACED (Bayelsa, Rivers, Akwa Ibom, Cross River, Edo and Delta) Tourism Promotion and Development Initiative (BTPDI), Dr Piriye Kiyaramo, has warned that Africa could lose an estimated 300 billion dollars annually by failing to fully develop its blue economy, urging governments to prioritise investment in the maritime sector to unlock economic growth and strengthen climate resilience.
Kiyaramo gave the warning while speaking with journalists in Yenagoa, Bayelsa State, on Thursday, where he attributed the potential losses to inadequate attention given to the maritime sector by Nigerian state governments and other African countries.
He said many coastal states had failed to harness the blue economy despite its potential to create jobs, stimulate economic development and enhance resilience to climate change.
Kiyaramo said Africa’s blue economy has an estimated annual value exceeding 300 billion dollars if properly harnessed, adding that Nigeria’s coastal states, including Bayelsa, Rivers, Akwa Ibom, Cross River, Edo and Delta, stand to benefit significantly from increased investment in the sector.
He explained that activities such as fisheries, aquaculture, ports, shipping, marine tourism and marine energy have the capacity to generate substantial revenue and employment opportunities across the region.
The BTPDI chairman added that the blue economy contributes to food security for more than 200 million Africans and supports over 90% of the continent’s trade by volume.
He also highlighted the environmental importance of coastal ecosystems, saying mangroves and other marine habitats provide natural protection for vulnerable communities against the impacts of climate change.
Kiyaramo noted that the benefits of a thriving blue economy extend beyond coastal nations, explaining that landlocked African countries also rely on efficient ports and transport corridors to facilitate trade.
He said improved maritime infrastructure could reduce trade costs by as much as 50%, while promoting regional integration and economic cooperation across the continent.
Kiyaramo cited the African Union’s 2050 Africa’s Integrated Maritime Strategy and the African Continental Free Trade Area (AfCFTA) as key frameworks that support maritime development and urged African governments to make investment in the blue economy a continental priority capable of delivering shared prosperity, lower trade costs and stronger regional integration.