Nigeria is set to launch a $1 billion fund in March 2026 aimed at boosting start-ups in the blue economy and maritime sectors.
The announcement came on Sunday, December 14, 2025, in Abuja, during a press conference by Ronke Kosoko, CEO of the Maritime Innovations Hub, held alongside the Blue Economy Investment Summit.
According to Ecofin Agency, the fund will officially be unveiled at the Blue Economy Investment Summit in Lagos from March 9 to 11, 2026.
It will support start-ups operating in shipping, fisheries, coastal tourism, shipbuilding, and marine renewable energy.
Kosoko said the goal is not only to provide financing but also to strengthen technical and managerial skills.
“The fund will include training programs, technical assistance, and access to international networks,” she explained, noting that it builds on a previous $100 million financing Nigeria secured for maritime training and capacity building.
She added that discussions with financial partners are nearly complete, with representatives expected to return soon to finalize commitments.
This initiative comes as Nigeria pushes to diversify its economy and reduce its dependence on oil revenues.
The blue economy has been identified by the federal government as a priority sector for long-term growth.
With over 850 kilometers of coastline and a strategic location along major international shipping routes, Nigeria has immense potential.
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Kosoko highlighted that the sector currently contributes less than 3% to the nation’s GDP, largely due to structural challenges like insufficient port infrastructure, limited reliable economic data, and an often unstable regulatory environment.
Kosoko emphasized that targeted financial support could transform informal maritime activities into structured businesses that create jobs, generate tax revenue, and help close part of Nigeria’s estimated $750 billion GDP gap.
By combining capital, training, and international exposure, the fund aims to address these constraints and create a more structured ecosystem that attracts investors and industrial partners.
The timing of the announcement is significant. In late November 2025, Nigeria returned to the council of the International Maritime Organization after a 14-year absence, elected under Category C for states with specific maritime transport interests.
Minister of Marine and Blue Economy Adegboyega Oyetola described this return as recognition of Nigeria’s reforms and security efforts in the Gulf of Guinea.
He added that it would strengthen international partnerships, improve access to technical assistance, and boost investor confidence in Nigeria’s maritime sector.
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