NDFF confab to open Nigeria’s $100bn blue, green economies

Joy Agwunobi

In a country brimming with potential, Nigeria’s thriving blue and green economies, estimated at about $100 billion annually in sustainable investment opportunities, remain tantalisingly close, yet largely untapped.  

According to industry stakeholders, unlocking this vast mine  of economic potential could prove to be a game-changer for Nigeria, breathing new life into the country’s economy and driving it towards a future defined by environmental stewardship and economic prosperity.

To this end, the Nigeria Development and Finance Forum (NDFF) has taken the stage, announcing a  two-day event that aims to catalyse investments and ignite a sustainable economic future. The highly anticipated conference, set to take place at the Transcorp Hilton Hotel  in Abuja on May 8th and 9th, 2024, is set to bring together leaders and experts  from across industries.

This year’s conference, themed “The Road to Economic and Social Welfare Transformation”, offers a dynamic platform for key stakeholders to forge meaningful connections and engage in impactful discussions.

According to NDFF, the worldwide blue or ocean economy, which encompasses all economic activities related to oceans, seas, and coasts, is valued at around $1.5 trillion per year and  is set to double by 2030 reaching $3 trillion.

The organisation added that the aim of green growth strategies is to maximise the economic potential of natural assets in a sustainable way noting  that Nigeria’s annual sustainable investment opportunities, valued at $100 billion, lie in areas such as technology, agriculture, manufacturing, power, and transportation, among others.

NDFF stated  that it will be showcasing the nation’s green and blue economy, with a focus on driving investment and promoting sustainable development noting that the promising Nigerian blue economy requires further policy support, robust market frameworks, and strategic investments to unlock its full potential. To address these challenges and capitalise on growth opportunities, it stated that the conference will convene key stakeholders to share insights, foster collaboration, and pave the way for a thriving and sustainable economy.

Jide Akintunde, director of NDFF stated that the conference aims to support a comprehensive and transformative reform agenda for the Nigerian economy to drive sustainable economic growth and development in the country noting that the conference has been deliberately scheduled closely with the the approaching first anniversary of President Bola Ahmed Tinubu’s administration. He added that the timing enables the creation of a structured platform for policymakers, industry leaders, civil society leaders, academics, and heads of international institutions to converge and optimise the positive effects of economic reform.