Blue Economy
Lagos Rides the Wave of Nigeria’s Blue Economy Boom
Lagos Rides the Wave of Nigeria’s Blue Economy Boom
How Lagos Is Riding the Wave of Water Transportation, Electric Racing, and Africa’s $400 Billion Blue Economy
Special Report by: Okeoghene Onoriobe | Marine and Blue Economy Correspondent | Lagos-Nigeria
Lagos — Africa’s largest megacity — sits on a paradox. Despite having one of the most expansive waterway networks on the continent, less than 1% of its daily transportation uses water. But a major shift is underway. From passenger ferries multiplying five-fold at Ikorodu terminal, to Lagos hosting E1’s first-ever electric boat race in Africa, Nigeria is finally tapping into a resource that could help solve one of its most chronic urban problems: gridlock. And with the UNDP projecting Africa’s blue economy to hit $400 billion by 2030, the stakes — and the opportunities — have never been bigger.
1. The Problem: A City Drowning in Traffic — But Ignoring Its Waterways
Lagos is home to over 20 million people. On any given weekday, its road network — groaning under the weight of overcrowded buses, danfo minivans, and an ever-growing fleet of private cars — grinds to a near standstill. Commuters routinely spend four to six hours in traffic for journeys that should take under an hour. Yet few look out of their car window and consider the broader solution that flows quietly alongside them: the Lagos Lagoon and its vast network of creeks, rivers, and coastal waterways.
According to Professor Charles Asenime, an expert in Transport and Mobility at Lagos State University, this underutilisation is both staggering and entirely reversible:
“If you look at the structure of Lagos State, about 16% of the land mass is made up of water. And then we have the water network that is capable of taking you almost anywhere in Lagos. Despite this, the usage was very, very low — less than 1%.” — Prof. Charles Asenime, Lagos State University
Think about what that means: 16% of Lagos is water — a network of natural highways that could carry tens of thousands of commuters daily. For decades, this resource sat largely idle, not because it lacked potential, but because it lacked investment, political will, and public awareness.
Figure 1 — Lagos State Land vs Water Composition. Source: Lagos State University Research
2. The Turning Tide: Government Steps In
The shift began when the Lagos State Government formally committed to developing its waterways as a strategic transport corridor. The Lagos State Waterways Authority (LASWA) was tasked with creating an enabling environment — improving terminal infrastructure, licensing operators, and setting safety standards. The effects have been tangible and swift.
At the Ikorodu terminal, one of the busiest hubs in the state, the transformation is most visible. Private operators like GT Waterline Ferry Services have dramatically scaled their operations, attributing much of their growth directly to increased government engagement.
“In 2018, when this particular terminal where we are was still under construction, we were moving about 10, 15 boats per day. Now as of today we move nothing less than 50 boats in a day. On an average of 1,000 passengers daily, around about 7 destinations from our major hub.” — Atinuke Oyenuga, CEO — GT Waterline Ferry Services
The numbers tell a compelling story of growth — a 4x increase in vessel movements and a burgeoning daily ridership that rivals many land-based transit systems in the country.
Figure 2 — Ikorodu Terminal: Boats per Day (2018 vs. Today). Source: GT Waterline Ferry Services
Figure 3 — GT Waterline Ferry Services: Key Performance Metrics Today
- Enter E1: When Electric Racing Meets Blue Economy Ambition
Water transportation in Lagos got a glamorous — and globally connected — boost when the E1 electric boat racing series chose Lagos as the site of its first-ever African race. E1, which describes itself as the “Formula E of the seas,” features sleek, fully electric race boats called RaceBirds that foil above the water at speeds of up to 50 knots. The spectacle of these futuristic vessels skimming across Lagos Harbour sent a powerful message: the waterways of Lagos are not just functional — they are world-class.
For Rodi Basso, CEO and co-founder of E1, the choice of Lagos was deliberate and deeply symbolic:
“E1 goes beyond the sport. The sport needs to play this kind of role which is inspirational. This comes with thought leadership, some concrete action on the coastal area.” — Rodi Basso, CEO & Co-Founder — E1 Racing
Basso envisions a legacy that goes well beyond the race itself — one where Lagos becomes a global reference point for sustainable water mobility, attracting investment, innovation, and talent to the city’s waterfront.
“We want to show that a different water mobility is possible for the future. This will bring developments, this will bring jobs, innovation, and will put Lagos potentially on the map as the place to go if you want to learn about the water mobility of the future.” — Rodi Basso, CEO & Co-Founder — E1 Racing
For local operators and regulators, the E1 race was more than a spectacle — it was a masterclass in possibility. Damilola Emmanuel, General Manager of LASWA, described the impact:
“It was where sustainability met innovation because what we saw happening with that boat race was a dynamic way of looking at water transport. A lot of the local operators could see the future — saying this is where we want to eventually be.” — Damilola Emmanuel, General Manager — LASWA
4. The $400 Billion Prize: Africa’s Blue Economy Opportunity
The excitement in Lagos is not occurring in isolation. Across Africa, governments, investors, and international bodies are waking up to the enormous untapped potential of the continent’s oceans, rivers, and lakes — what economists collectively call the “Blue Economy.” The United Nations Development Programme (UNDP) has estimated that Africa’s blue economy could generate over $400 billion annually by 2030, through sectors including fisheries, aquaculture, maritime trade, coastal tourism, offshore energy, and water transport.
Nigeria, with its extensive coastline along the Gulf of Guinea, the Niger Delta’s labyrinthine waterways, and the vast lagoon system of Lagos, is uniquely positioned to claim a significant share of this wealth. But experts are quick to note that seizing this opportunity requires more than infrastructure investment — it demands a commitment to sustainability.
Figure 4 — Africa’s Blue Economy: Projected Revenue Growth to $400 Billion by 2030. Source: UNDP
- Sustainability: The Non-Negotiable Condition
Perhaps the most important voice in this story belongs not to a boat operator or a racing executive, but to an academic who has spent years studying how cities interact with water. Professor Asenime’s call for sustainability is both a warning and a roadmap:
“We must have waterways that are clean and clear. Then it will help the economy to come up. The bottom line is that it must be sustainable — so we don’t want to use it now and cause problems in the future. We want it to grow to the extent that those in the future will partake, they will benefit from what we are doing now.” — Prof. Charles Asenime, Lagos State University
This is a crucial insight. Lagos’s waterways currently face significant environmental pressures — plastic waste, oil spills, industrial runoff, and informal settlement encroachment. Without aggressive clean-up and protection measures, the same waterways being celebrated today could become degraded to the point of unusability within a generation.
The integration of electric vessels — as demonstrated by E1 — offers a glimpse of what zero-emission water transport can look like. If Lagos and Nigeria can align their blue economy ambitions with strong environmental governance, the model they build could become a template for cities across the Global South.
Key Takeaways at a Glance
Metric / Insight | Data / Finding |
| Lagos water as % of total land mass | 16% |
| Water transport share of Lagos commuters | Less than 1% (pre-initiative) |
| Ikorodu ferry boats per day (2018) | ~10–15 |
| Ikorodu ferry boats per day (today) | 50+ |
| Daily passengers at Ikorodu hub | ~1,000 |
| Destinations served from Ikorodu | 7 |
| E1 Africa — first race location | Lagos, Nigeria |
| Africa Blue Economy (UNDP 2030 projection) | $400 Billion+ |
Additional reports by: Emetena Ikuku, Waterways News Reporter Researcher; Warri
For a follow up on this news report, always log on to Waterways News: www.waterwaysnews.ng
Oyetola Woos Turkish Investors for Fisheries Sector, Vows to Protect Artisanal Fishers
By Okeoghene Onoriobe | Waterways News
The Minister of Marine and Blue Economy, Dr Adegboyega Oyetola, has thrown Nigeria’s fisheries sector open to Turkish investment, insisting that any fresh capital coming into the industry must strengthen and not sideline the millions of Nigerians who depend on artisanal fishing for a living.
Oyetola made the pledge while receiving a delegation from Turkish fisheries and aquaculture firm CRD Impex, led by the company’s General Manager for Fisheries, Cem Tarhan, at his Abuja office. He told the investors the Federal Government was ready to create an investment-friendly climate for credible local and foreign players willing to bring capital, technology and modern value-chain solutions to the sector, on condition that such investment remains inclusive.
“We welcome investors who can bring capital, technology, expertise and modern value-chain solutions to the sector. However, investment must be inclusive and sustainable. It must complement and empower our artisanal fish producers, not undermine their livelihoods,” the Minister said
He listed inadequate infrastructure, poor access to modern fishing technology, weak cold-chain systems, limited processing and storage capacity, and gaps in market access as the major constraints holding back the sector, framing each as an opening for targeted investment rather than a dead end.
The Turkish team, which included CRD Impex founder Hanefi Cardak and Tetra Underwater Services founder Ersun Buyukgoze, toured key fisheries and aquaculture points around the country to size up the terrain first-hand. Stops included the Kirikiri Lighter Terminal in Lagos, the Ozumba Mbadiwe Fish Market in Lekki, and the Esuk Nsidung Beach Market, a major waterfront seafood hub in Calabar, Cross River State.
The Ministry described the visit as part of a broader push to attract serious investment into Nigeria’s blue economy while keeping the welfare of artisanal fishers central to that growth.
Nigeria Watch
The Turkish courtesy call lands squarely in the pattern this desk has tracked all year: big-ticket investment pledges for Nigeria’s waterways, paired with familiar assurances that the small operator won’t be crowded out. The test, as always, is what happens after the photo-op.
Nigeria’s artisanal fishing communities occupy the same economic space as the informal boat operators represented by WABOTAN and ATBOWATON, river- and creek-dependent Nigerians whose livelihoods rise or fall on decisions made far from the waterfront. The infrastructure gaps Oyetola cited which include, weak cold-chain systems, poor storage and limited market access, all mirror the exact complaints this desk has documented from inland waterway operators for years but modernisation announced from Abuja rarely reache the jetties.
Turkish capital chasing Nigerian fisheries and aquaculture is a genuinely new thread, distinct from the Strait of Hormuz shipping story or the CVFF disbursement saga this desk has followed closely. But the underlying question is the same one that has defined Oyetola’s tenure at the Ministry of Marine and Blue Economy: will “inclusive investment” translate into contracts, cooperative partnerships and cold-chain infrastructure that artisanal operators can actually use or will it, like so many blue-economy pledges before it, stall at the courtesy-visit stage?
Waterways News will be watching for the first concrete CRD Impex commitment — site, timeline, or local partnership — as the marker of whether this one is different.
NPERA, NPA Open Technical Talks on Handover of Inland Dry Port Functions
By Ighoyota Onaibre | Waterways News
The Nigerian Ports Economic Regulatory Agency (NPERA) and the Nigerian Ports Authority (NPA) have begun formal engagement on transferring inland dry port oversight to NPERA, marking the start of what both agencies describe as a critical phase in operationalising Nigeria’s new port regulatory framework.
At a management-level meeting between the two agencies, officials focused on the technical groundwork for the handover, chiefly how to draw clear lines of responsibility and avoid duplication among the government bodies with a stake in inland dry port administration.
NPERA’s Director-General/CEO, Dr Akutah Pius, framed the transition as flowing directly from the Minister of Marine and Blue Economy, Dr Adegboyega Oyetola, whom he credited with steering the process toward the sector’s broader development. Akutah was emphatic that NPERA could not carry out the transfer alone, and said the buy-in of every relevant stakeholder agency would be needed to see it through.
He indicated that the Ministry would stay central to coordinating the process even as specific mandates move to the agencies best placed to execute them. Akutah also pointed to the Minister’s earlier interventions during the NPERA Bill’s passage through the National Assembly, which he said had defused inter-agency friction and set the stage for the cooperation now underway.
Describing the purpose of the meeting, Akutah said it was meant to formally kick off the transfer of inland dry port responsibilities to NPERA in fulfilment of its statutory role as economic regulator of the ports sector. He singled out Section 51 of the NPERA Act as a provision that now needs to be put into practical effect to keep the transition orderly and ensure stakeholder roles are properly aligned.
To manage the process going forward, the NPERA boss proposed setting up a joint committee drawing in NPERA, NPA, the National Inland Waterways Authority (NIWA), and the Federal Ministry of Marine and Blue Economy. He argued that inland dry ports matter well beyond the coastline. They extend maritime sector benefits into Nigeria’s hinterland and reinforce the country’s trade and logistics chain.
Responding on behalf of NPA, Managing Director Dr Abubakar Dantsoho welcomed the move and pledged his agency’s full operational and technical backing throughout the transition. He said the process had started on the right footing, and that NPA would furnish updated data on the current state of inland dry ports to inform further discussions, expressing confidence that continued engagement would help the agencies meet their shared objectives.
NPA’s Executive Director, Engr. Lekan Badmus, also commended NPERA for setting the collaboration in motion, calling the meeting a solid first step toward a smooth integration. He noted the two agencies have now moved into the technical phase of the exercise, with close attention being paid to eliminating overlapping functions.
Closing the meeting, Akutah said the proposed joint committee would reconvene with the Minister to seek further guidance and agree on next steps to keep the transition on track.
Nigeria Watch
This meeting is the first visible test of whether the NPERA Act’s promise of a rationalised port regulatory architecture can survive contact with Nigeria’s crowded agency landscape. Section 51’s transfer of inland dry port functions to NPERA looks straightforward on paper; in practice, it touches NPA’s traditional port administration turf, NIWA’s inland waterways mandate, and the Ministry’s coordinating role all at once, precisely the kind of overlapping jurisdiction that has bedevilled reform efforts elsewhere in the sector, most visibly in the long-running NIWA-LASWA tussle that only the Supreme Court could settle.
The proposed joint committee of NPERA, NPA, NIWA, and the Ministry, is a sensible mechanism, but Waterways News readers who have followed the CVFF disbursement saga know that Nigerian maritime governance has no shortage of well-designed committees whose outputs never quite reach implementation. What will matter is whether Akutah’s “technical phase” produces a binding timeline, not another round of goodwill statements.
For inland dry port operators and the hinterland trade corridors that depend on them, the stakes are practical: unclear jurisdiction between NPA and NPERA has historically meant slower cargo evacuation, duplicated levies, and uncertainty for freight forwarders planning routes away from the congested Lagos ports. If this transition is handled well, it strengthens the case for dry ports as genuine pressure valves for Apapa and Tin Can. If it stalls in inter-agency turf negotiation, it becomes one more entry in the gap between policy pronouncement and delivery that this desk continues to track.
Worth watching: whether Minister Oyetola’s office sets an explicit deadline when the committee reconvenes, and whether NIWA, whose inland waterways mandate intersects with dry port hinterland connectivity, gets more than a seat at the table.
Two More Tankers Struck in Strait of Hormuz as Attack Count Hits Five in a Week
By Okeoghene Onoriobe | Waterways News
Two more tankers have been hit while transiting the Strait of Hormuz, leaving two seafarers with minor injuries and pushing the number of reported attacks or security incidents against commercial vessels in the waterway to at least five since 16 September.
The UK Maritime Trade Operations (UKMTO) centre said an inbound tanker was struck by an unidentified projectile on Monday. Two crew members sustained minor injuries, but the vessel stayed under its own power and continued to its next port, with no environmental impact reported.
Hours later, UKMTO issued a second alert after an outbound LPG tanker reported being struck by debris from unknown projectiles. All crew were reported safe and the vessel also continued its voyage. Authorities are investigating both incidents, and UKMTO has not attributed either attack to a specific actor.
The two strikes build on a Joint Maritime Information Center (JMIC) advisory covering three earlier attacks between 16 and 18 September, one of which saw a tanker’s hull breached by a projectile, sparking a fire. JMIC continues to rate the threat level in the strait as “severe,” citing a high likelihood of deliberate hostile action and pointing to a pattern of harassment by Iran’s Islamic Revolutionary Guard Corps — drone overflights, surveillance of merchant vessels and VHF hailing, alongside the direct attacks.
Traffic through the chokepoint remains sharply depressed. Only 17 commodity vessels were visibly transiting over the weekend, down from 37 the week before and against a pre-war daily average of roughly 125. That figure excludes vessels sailing with their AIS transponders switched off, and JMIC notes a persistent gap between visible and actual traffic.
Nigeria Watch
For Nigerian maritime stakeholders, the Hormuz crisis is no longer a distant Gulf story. It is a cost line. Every fresh escalation feeds directly into the war-risk insurance premiums and freight rates that Nigerian importers, refiners and shipping agents ultimately absorb, since global tanker and container capacity pulled off the Hormuz route tightens supply elsewhere and pushes rates up across long-haul trades, including those serving West African ports.
The renewed attacks also sharpen the stakes around Nigeria’s push for a stronger voice at the IMO Council table and its broader blue-economy diplomacy under Minister Adegboyega Oyetola. A sustained Gulf disruption is exactly the kind of systemic shock that tests whether Nigeria’s seat translates into influence over how global shipping risk, insurance and rerouting decisions are made, rather than Nigeria simply absorbing the downstream cost.
Locally, the episode is a reminder of the layered nature of “maritime security” as a policy word: the Deep Blue Project and Gulf of Guinea security architecture address piracy and armed robbery close to home, but Nigeria’s ports and shippers remain exposed to security failures thousands of kilometres away in the Gulf.
Waterways News will continue tracking how the Hormuz situation feeds into freight cost pressure at Nigerian ports and NIMASA’s public messaging on the issue.
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