Governor Fubara Urges Private Sector to Unlock Nigeria’s Blue Economy

Rivers State Governor Siminalayi Fubara has called on the organized private sector to take immediate action in harnessing the nation’s vast blue economy potential. 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 failure to invest now could allow foreign interests to dominate the sector.

The conference, themed “Gulf of Guinea and the Blue Economy: Pathways to Trade, Investment, and Security Towards a $1 Trillion Economy,” highlighted the significant revenue opportunities available in marine resources—areas the governor noted could eventually surpass the oil and gas sector in economic impact.

Governor Fubara, represented by his deputy, Prof. Ngozi Odu, cautioned against inaction. “Nature does not allow a vacuum. If we do not capitalize on and utilize our blue economy, other nations will utilize it for us,” he stated. He pointed out that foreign trawlers currently operate within Nigerian waters for fishing without paying taxes or contributing to the national economy, a trend he urged domestic investors to help reverse.

Reaffirming his administration’s commitment to economic growth, the governor pledged to maintain an investment-friendly environment. “We believe that government and the private sector must work together to unlock the vast economic potentials of our state and our nation,” he added.

Leadership from NACCIMA commended the Rivers State government for its ongoing efforts to improve infrastructure and business competitiveness. NACCIMA President, Engr. Jani Ibrahim, praised the state’s focus on road networks and urban renewal, noting that such strategic investments are essential for attracting trade and enhancing the region’s profile as a hub for commerce in the Niger Delta.

The event, which marked the first time the association has hosted its conference in Rivers State since its inception 66 years ago, served as a platform to showcase the state’s readiness to become a central player in the development of Nigeria’s maritime and blue economy.