Nigeria is actively seeking blue finance partnerships during a high-level session on the sidelines of the Our Ocean Conference in Mombasa, Kenya. The session, organized by Gadfly Consulting Limited and the Blue Bond Accelerator (BBA), aims to mobilize financing for sustainable blue economy projects throughout Africa. It will bring together issuers, investors, regulators, and ecosystem partners to develop a pipeline of bankable opportunities in the blue finance sector.
Private Sector Engagement Crucial
Dr. Uche Igwe, Lead Consultant at Gadfly Consulting Limited, emphasized that private sector involvement is essential for unlocking ocean finance. He stated, “It is no longer news that if we must achieve the ambitious agenda of the Nigerian government in the blue economy, we must go the extra mile to mobilise the resources needed.” Igwe noted that Nigeria is pursuing plans to develop deep-sea ports to decongest Lagos ports and improve infrastructure. He also stressed the need to invest in fisheries and aquaculture, despite the country's vast marine resources. “That Nigeria has such rich ocean endowments and yet imports $1.2 billion worth of fish annually is inexplicable,” he added.
Showcasing Potential in Mombasa
Igwe explained that the Mombasa engagement will help attract investment and strengthen partnerships. “We are going to Mombasa to showcase our potential, demonstrate our leadership in maritime management in the Gulf of Guinea, and secure the partnerships needed to translate our ambitions into action,” he said. Titia Sjenitzer, Co-Executive Director of the Blue Bond Accelerator, highlighted that Nigeria’s policy direction creates opportunities for investment. “Nigeria stands out as a natural anchor of the African continent. With one of Africa’s deepest domestic capital markets and a clear policy push on the blue economy, it has what many markets lack,” she remarked.
Support for Blue Bonds
Sjenitzer added that the organization will support issuers with technical and structuring expertise to develop credible blue bonds. “Convening stakeholders as we intend to do in Mombasa is the best way to build a shared understanding and a common pathway forward,” she said. The 11th Our Ocean Conference, scheduled for June 16–18, 2026, in Mombasa, marks the first edition held in Africa. The conference will focus on ocean sustainability, coastal communities, and economic opportunities, attracting over 1,000 participants from about 100 countries and more than 400 organizations.
Nigeria's Blue Economy Ambitions
Nigeria’s Ministry of Blue Economy has expressed interest in exploring capital market funding for maritime projects. The conference aims to shift global ocean discussions from dialogue to implementation, with an emphasis on jobs, equity, and resilience. By forging blue finance partnerships, Nigeria hopes to leverage its marine resources for sustainable development and economic growth.
