Fed Govt, World Bank target ‘bankable projects’ to unlock blue economy
Nigeria is pivoting its blue economy strategy toward investment execution, as the Ministry of Marine and Blue Economy deepens its partnership with the World Bank to unlock “bankable projects” and
Nigeria is pivoting its blue economy strategy toward investment execution, as the Ministry of Marine and Blue Economy deepens its partnership with the World Bank to unlock “bankable projects” and accelerate delivery of key maritime initiatives.
The shift, anchored on the PROBLUE programme, signals a transition from policy design and data development to structuring commercially viable projects capable of attracting international financing and driving measurable growth across the maritime sector.
This formed the focus of a high-level technical cooperation meeting convened to validate critical findings and align implementation priorities for Nigeria’s Blue Economy Blueprint, according to a statement issued by the Director, Information and Public relation, Ministry of Marine and Blue Economy, Anastasia Ogbonna.
At the meeting, Permanent Secretary of the ministry, Fatima Mahmood, commended the World Bank delegation led by the Lead Environmental Specialist at the World Bank Group, Marcelo Hector Acerbi and the Lead of the World Bank Consortium, Yolanda Molares, as well as the Advisory Committee, for the quality of technical assistance delivered.
Advertisement
300x250
READ ALSO: UTME: Lagos Police deploy personnel to secure centres
She noted that the engagement had produced significant progress, particularly in strengthening data systems and generating analytical outputs essential for long-term planning, but emphasised that the next phase must focus squarely on execution.
She said the final report must clearly identify “bankable projects” capable of attracting financing from the World Bank and other international development partners.
According to her, the immediate priority is investment mobilisation and ensuring that all technical outputs are translated into practical, investable outcomes that will drive the development of Nigeria’s blue economy.
From a maritime business perspective, the evolving partnership is expected to unlock opportunities across fisheries, coastal infrastructure and marine services, while also de-risking investments through improved governance frameworks and data-driven planning.
Advertisement
300x250
Also speaking, Molares, expressed appreciation to the Minister, the Permanent Secretary, Director of Fisheries and Aquaculture, and the Senior Special Assistant to the President on Marine and Blue Economy for their roles in advancing the technical collaboration.
She explained that the partnership is laying the foundation for a robust Blue Data Bank and the deployment of precise data-generation methodologies that will culminate in a comprehensive Integrated Coastal Zone Management report.
Molares added that the initiative will also drive the strategic creation of Blue Clusters across pilot states, describing it as a milestone in Nigeria’s maritime evolution with strong commercial implications.
She said the successful development of these clusters would unlock high-value investment opportunities, paving the way for targeted grants and sustained support from the World Bank.
The engagement also drew on the expertise of technical consultants supporting implementation across policy reform and investment planning, further confirming the readiness of both the proposed cluster model and integrated coastal management approaches for execution.
The partnership, the statement noted, is rooted in the PROBLUE initiative, a multi-donor trust fund managed by the World Bank, which supports the sustainable and integrated development of marine and coastal resources.
In Nigeria, the programme is expected to drive a more resilient ocean economy by tackling marine pollution, improving fisheries management and diversifying maritime sectors, while ensuring environmental sustainability and long-term economic resilience.
