The Sea Empowerment and Research Centre (SEREC) has identified marine biomass utilisation and green port energy transition as low-hanging opportunities in Nigeria, with the potential to unlock about N530 billion in yearly economic value. The research centre stated that the combined implementation would generate over 50,000 jobs, attract over N450 billion in investment, reduce logistics and port costs, boost non-oil exports and foreign exchange earnings, and strengthen the ease of doing business within a three- to five-year period.
Marine Biomass and Green Port Potential
SEREC, in its monthly policy bulletin signed by the Head of Research, Dr Eugene Nweke, stated that targeted investment and policy support in marine biomass resources such as Nypa palm and water hyacinth, alongside a transition to green energy in ports, represent high-impact opportunities in line with the Federal Government’s Renewed Hope Agenda on economic diversification.
Investment Breakdown for Marine Biomass
Given the investment breakdown, SEREC estimated that marine biomass processing requires between N120 billion and N150 billion in public-private investment, with a projected yearly return on investment (ROI) of over N215 billion and a payback period of 18 to 30 months. According to the research centre, this is expected to establish between 10 and 15 processing hubs at a cost of between N60 billion and N80 billion, alongside N25 billion for harvesting and logistics systems, N20 billion for SME financing and cooperatives, and about N15 billion for research, development and pilot programmes.
Job Creation and Economic Value
The group projected that this would create about 30,000 jobs through value chains spanning biofuels such as ethanol and briquettes, organic fertilisers and fibre-based products, including packaging, boards and textiles, while generating about N215 billion within an 18 to 30-month period. SEREC highlighted Nypa palm economic conversion as a key sub-sector with an estimated N80 billion yearly value potential, driven by export-oriented products such as sweeteners, crafts and roofing materials, as well as bio-ethanol blending for the domestic energy market, with strong rural industrialisation impact.
Green Port Energy Transition
The report estimated that transitioning Nigerian ports to green energy systems will require about N250 billion in public-private investment, with a yearly cost savings estimated at N150 billion and a payback period of between two to four years. SEREC stated that the cost components of the transition plan include solar-hybrid systems for major ports at about N150 billion, battery storage and grid integration at N60 billion, and shore power infrastructure at N40 billion. The research group noted that such investments could reduce diesel consumption by 30 to 50 per cent, lower cargo handling costs and significantly increase port throughput efficiency and competitiveness.
Coastal Job Creation and SME Development
The report further projects that coastal job creation and small and medium enterprises (SMEs) development will require about N65 billion in investment, generating over 20,000 indirect jobs and more than N100 billion in yearly economic activity. According to SEREC, this will target youth cooperatives for biomass harvesting, women-led processing enterprises and skills development in renewable energy and marine industries, with a strong multiplier effect expected across coastal economies.
Blended Financing Model
SEREC proposed a blended financing model, with the public sector providing between 20 and 30 per cent in seed funding, alongside policy and regulatory support and sovereign guarantees for public-private partnerships (PPP).
