Experts in the nation’s maritime industry have revealed that Nigeria is missing out on approximately $2 billion approximately over N2 trillion in potential revenue each year, due to unexploited maritime tourism resources. The stakeholders expressed that the tourism sector should be contributing significantly to the federal government’s income, but administrative inefficiencies and lack of strategic leadership are holding it back.
In a chat with our correspondent, Dr. Kayode Farinto former acting President of the Association of Nigerian Licensed Customs Agents (ANLCA), emphasized the potential of maritime tourism to boost the economy. He shared an example from Amsterdam, where a €5 million tourism vessel could be a major revenue source if implemented in Nigeria, possibly through a public-private partnership (PPP). However, the current state of the Ministry of Blue Economy is a significant barrier.
“Our waters are rich with untapped resources that could generate substantial revenue for the government,” Farinto lamented. “The Ministry of Marine and Blue Economy must become more effective in harnessing these resources.”
Tourism expert; Mr Frank Meke also emphasized the vast potential of Nigeria’s marine environment for tourism and recreation. He cited activities such as scuba diving, windsurfing, fishing, marine wildlife observation, and visits to maritime museums and lighthouses as untapped opportunities.
“The Nigerian government must provide an enabling environment, improve infrastructure, and ensure water safety for tourists,” Meke advised. He lamented the absence of large tourism ships in Nigeria, which are commonplace in places like Cape Town, South Africa.
Highlighting the need for infrastructure, Meke pointed to regions like Badagry and waterfront properties like Banana Island, which showcase the benefits of marine tourism environments. He stressed the importance of starting marine tourism initiatives to unlock Nigeria’s potential.
“Nigeria’s water ecosystems, such as those in Lagos and littoral communities in eight states, offer immense opportunities for tourism,” Meke said. “However, to capitalize on these opportunities, Nigeria must address the challenges and invest in infrastructure.”
Marine engineer; Udok Bassey on his part pointed out that, despite Nigeria’s abundant natural endowments, the country is not listed among Africa’s top 15 maritime tourism nations. This underutilization of ocean resources, especially in maritime tourism, hampers economic diversification and development.
Bassey noted that neglecting maritime tourism is a missed opportunity, contrasting Nigeria with regions like the United States, Europe, China, and South Africa, which actively exploit their marine tourism markets. He highlighted the global maritime tourism industry, worth over $6.45 trillion, as a potential goldmine for Nigeria if properly developed and managed.
“Countries like South Africa generate significant revenue from their maritime tourism annually. If Nigeria’s maritime tourism sector attracts private investors, it could create a ripple effect, boosting the overall tourism industry,” Bassey stated. “There are immense opportunities for investors in Nigeria’s coastal and maritime resorts, including marine malls, cruise ships, and marine sports.”
