Rivers State Governor, Siminalayi Fubara has called on Nigeria’s organised private sector to urgently invest in the country’s blue economy, warning that foreign operators are already taking advantage of its vast marine resources.
Speaking at the Annual General Meeting and Conference of the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) in Port Harcourt, the governor stressed that stronger collaboration between government and private investors is essential to unlock the enormous economic potential of Rivers State and Nigeria.
Represented by his deputy, Prof. Ngozi Odu, Fubara said Nigeria risks losing control of its maritime wealth if local investors fail to seize opportunities in the sector.
“Nature does not allow a vacuum. If we do not capitalise on our blue economy, other nations will utilise it for us,” he said.
The governor lamented that foreign fishing trawlers continue to exploit Nigeria’s territorial waters without making meaningful contributions to the country’s economy through taxes or other levies.
He described the conference theme—Gulf of Guinea and the Blue Economy: Pathways to Trade, Investment and Security Towards a $1 Trillion Economy—as timely, noting that the blue economy has the potential to generate revenues that could rival or even surpass those from oil and gas.
Fubara reaffirmed his administration’s commitment to creating an enabling environment for investment, job creation, and sustainable economic growth, insisting that meaningful national development requires active participation from the organised private sector.
Also speaking at the event, NACCIMA President, Engr. Jani Ibrahim, commended the Rivers State Government for implementing investor-friendly policies and investing in critical infrastructure, including road networks and urban renewal projects, to improve the state’s business climate.
He described Rivers State as one of Nigeria’s leading investment destinations and expressed confidence that it is well-positioned to become the nation’s hub for the blue economy.
