Nigeria, World Bank Deepen Blue Economy Partnership, Target Bankable Projects To Drive Maritime Growth
Nigeria partners World Bank to advance blue economy, prioritising bankable projects, data systems and sustainable maritime development initiatives nationwide.
Nigeria partners World Bank to advance blue economy, prioritising bankable projects, data systems and sustainable maritime development initiatives nationwide.
The Federal Ministry of Marine and Blue Economy has deepened strategic partnership with the World Bank under the PROBLUE initiative aimed at delivering key projects and actualizing Nigeria’s Blue Economy Blueprint.
This much was highlighted during a high-level Technical Cooperation meeting focused on the validation of findings and results essential to the nation’s maritime future.
The meeting served as a critical platform to review progress made in developing a coherent and actionable Blue Economy Framework for Nigeria.
The framework is designed to strengthen governance, improve marine spatial planning, and enhance data systems, while promoting stakeholder engagement to ensure long-term institutional coordination.
Speaking on Thursday in Abuja at the technical interface, the Permanent Secretary, Federal Ministry of Marine and Blue Economy, Mrs. Fatima SugraTabi’a Mahmood, commended the World Bank delegation led by Marcelo Hector Acerbi and Yolanda Molares and the Advisory Committee for the quality of technical assistance provided.
This is as she expressed satisfaction with the comprehensiveness of the work, particularly the advancements in data systems and analytical outputs.
She further stressed that the focus must now transition from analysis to action, outlining the necessity for the final report to explicitly identify “bankable projects” capable of attracting financing from the World Bank and other international development partners.
According to the Permanent Secretary, “the priority moving forward is investment mobilization and ensuring that all technical outputs are translated into practical, investable outcomes that drive the development of Nigeria’s blue economy.”
Also speaking, Lead of the World Bank Consortium, Yolanda Molares, expressed profound 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 pivotal roles in advancing the Technical Collaboration.
Molares, observed that the partnership is foundational to establishing a robust Blue Data Bank and implementing precise data-generation methodologies which will culminate into a comprehensive Integrated Coastal Zone Management report and the strategic creation of Blue Clusters across pilot states, marking a significant milestone in the nation’s maritime evolution.
She further maintained the successful development of these clusters will reveal high-value investment opportunities, paving the way for targeted grants and sustained support from the World Bank.
It is worthy to note that the engagement also integrated the expertise of technical consultants supporting implementation across policy reform and investment planning, confirming the readiness of the proposed cluster model and integrated coastal management approaches.
The strategic partnership is rooted in the objectives of the PROBLUE initiative; a multi-donor trust fund housed at the World Bank that supports the sustainable and integrated development of marine and coastal resources in healthy oceans.
In Nigeria, the initiative seeks to foster a sustainable ocean economy by tackling marine pollution, managing fisheries, and diversifying maritime sectors to ensure economic resilience and environmental stewardship.
