Marine biomass, green ports to unlock N400b yearly
Nigeria could unlock over N400 billion in annual economic value and create more than 50,000 jobs within five years if it fully harnesses marine biomass and transitions its ports to
Nigeria could unlock over N400 billion in annual economic value and create more than 50,000 jobs within five years if it fully harnesses marine biomass and transitions its ports to green energy systems, according to the Sea Empowerment and Research Centre (SEREC).
In its latest policy bulletin, the group projected a combined public-private investment envelope of between N370 billion and N530 billion across marine biomass processing, green port energy transition, and coastal enterprise development, positioning the maritime sector as a central driver of the Federal Government’s Renewed Hope Agenda.
The report, titled: “Advancing the Renewed Hope Agenda through Marine Biomass Utilisation and Green Port Energy Transition,” presented the initiatives as immediate, scalable interventions capable of reducing port costs, boosting efficiency, and transforming environmental challenges into viable commercial value chains.
Head of Research at SEREC, Eugene Nweke, said the strategy is anchored on converting Nigeria’s marine ecological burdens into structured economic assets. According to him, “Nigeria must convert its marine ecological challenges into structured economic assets that deliver jobs, reduce costs, and drive sustainable growth.”
At the core of the proposal is a N120 billion to N150 billion investment in marine biomass processing, targeting invasive species such as Nypa palm and water hyacinth. The programme, Nweke said, is expected to generate between N180 billion and N250 billion annually through biofuels, organic fertilizers, and fibre-based industrial products, with a payback period of 18 to 30 months.
SEREC estimated that the biomass value chain alone could create between 25,000 and 30,000 direct jobs, supported by the establishment of 10 to 15 processing hubs nationwide, alongside investments in harvesting logistics, SME financing, and research development.
Within this segment, Nypa palm conversion is projected to contribute an additional N60 billion to N100 billion annually through export-oriented products such as sweeteners, roofing materials, and bio-ethanol blends, further deepening rural industrialisation and export diversification.
The report also highlighted a N200 billion to N300 billion green port energy transition programme aimed at overhauling energy consumption across Nigeria’s major seaports. The initiative includes deployment of solar hybrid systems, battery storage integration, and shore power infrastructure.
According to the centre, the transition could cut diesel consumption by 30 to 50 per cent, significantly lower cargo handling costs, and improve vessel turnaround time, ultimately enhancing port competitiveness. Annual savings from the initiative are projected at between N120 billion and N180 billion, with a payback period of two to four years.
Beyond infrastructure, the policy framework outlined a N50 billion to N80 billion coastal job creation and SME development scheme focused on youth cooperatives, women-led processing enterprises, and skills development in renewable energy and marine industries. This segment alone is expected to generate over 20,000 indirect jobs and stimulate more than N100 billion in annual economic activity across coastal communities.
To fund the initiatives, SEREC proposed a blended financing model combining public sector policy support and seed funding with private sector investment in infrastructure and technology deployment. It also identifies green bonds, carbon credits, and multilateral financing from institutions such as the World Bank and African Development Bank as critical funding sources.
The report stressed that successful implementation will depend on clear regulatory frameworks, transparent public-private partnership structures, environmental safeguards, and strong inter-agency coordination.
The maritime think-tank noted that beyond job creation and revenue generation, the reforms would reduce logistics bottlenecks at ports, enhance ease of doing business, and increase non-oil export earnings—key metrics for the country’s maritime and blue economy expansion.
Summarising its policy thrust, the centre emphasised that the initiative represents a shift “from waste to wealth and from cost centres to revenue streams,” positioning Nigeria’s ports and coastal ecosystems as engines of sustainable economic growth under the Renewed Hope Agenda.
