Akutah Bags London Award, Says Blue Economy Can Drive Nigeria’s $1trn Economy
By Asuquo Nuwak
Akutah Bags London Award, Says Blue Economy Can Drive Nigeria’s $1trn Economy
The Director-General of the Nigerian Ports Economic Regulatory Agency (NPERA), Dr. Pius Akutah, has been honoured with a Sustainability Award for Investment and Economic Development in London, as he said Nigeria’s marine and blue economy could play a major role in driving the country’s ambition of building a $1 trillion economy by 2030.
The award was presented to Akutah at the Nigeria Conversation on Trade and Investment London 2026, organised by the Royal Commonwealth Society, Nigerian Branch, in recognition of his contributions to investment promotion and economic development in Nigeria.
The recognition came on the heels of President Bola Ahmed Tinubu’s assent to the NPERA Act, 2026.
Commenting at the event, which had the theme, “Towards Sustainable Economic and Industrial Development in Nigeria – Prospects and Opportunities,” Akutah highlighted the enormous investment opportunities presented by Nigeria’s marine and blue economy.
Significantly, he said the sector could make a significant contribution to the Federal Government’s ambition of building a $1 trillion economy by 2030, if its vast opportunities were properly harnessed.
Akutah further said the creation of the Ministry of Marine and Blue Economy and the ongoing renewal of Nigeria’s port infrastructure reflected the Federal Government’s commitment to diversifying the economy beyond oil and gas.
Still, he identified the ports sector, inland waterways, fisheries, shipbuilding and repairs, renewable energy and other maritime activities as critical areas capable of attracting investments and driving economic growth.
Akutah also stressed the need to unlock the potential of Nigeria’s inland waterways, noting that only about 3,000 kilometres of the country’s estimated 10,000 kilometres of inland waterways are currently navigable.
Besides, he said the dredging of River Niger and developing navigable channels could open up significant investment opportunities, while reducing the cost of logistics and facilitating the movement of goods into the hinterland.
He further emphasised the importance of aligning Nigeria’s trade objectives with the African Continental Free Trade Area (AfCFTA) and improving logistics infrastructure to enable the country to maximise the benefits of regional trade.
Furthermore, Akutah noted that Nigeria still maintains a very strong market structure, which he said gives the country an advantage in attracting investors.
In addition to this, he said most of the major seaports in Africa are located in Nigeria, although many of them are old, stressing that efforts were being made by the Federal Government to modernise the facilities.
In the same vein, he said the development and modernisation of the maritime sector would not only strengthen Nigeria’s trade capacity, but would also create opportunities for domestic and international investors.
He expressed optimism that increased investment in the marine and blue economy would position the sector as a major contributor to sustainable economic development and Nigeria’s $1 trillion economic target.
The event brought together government officials, business leaders and other stakeholders to explore prospects and opportunities for sustainable economic and industrial development in Nigeria.
Dignitaries at the event included the Executive Governor of Kogi State, Alhaji Ahmed Ododo, represented by the Special Assistant on Economic Matters, Mr. Sanni Abdullahi Ozomata; the First Lady of Kwara State, Professor Olufolake AbdulRazaq; Mr. Chimaobi Madukwe, a representative of BUA Group; and the Managing Director/Chief Executive Officer of the Nigeria Export Processing Zones Authority (NEPZA), Dr. Olufemi Ogunyemi, among others.
TransportToday Newsmagazine reports that the sustainability Award adds to the growing recognition of efforts to position Nigeria’s maritime and blue economy as a catalyst for investment, trade and sustainable economic development.
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