Nigeria’s Blue Economy potentials estimated at over $40bn, Chief of Naval Staff reveals
The Chief of Naval Staff, Vice Admiral Emmanuel Ogalla, has disclosed that Nigeria’s blue economy, encompassing resources within its maritime domain, is valued at over $40 billion, with potential growth to $120 billion.
A statement by Commodore Aiwuyor Adams-Aliu, Director of Naval Information, disclosed that the CNS was welcomed at UNN by Vice Chancellor Professor Polycarp Chigbu and other esteemed professors.
Speaking, Ogalla highlighted the significant strides made in combating oil theft during a lecture titled “Safeguarding Nigeria’s Blue Economy Potentials: The Role of the Nigerian Navy” at the University of Nigeria, Nsukka .
Since the launch of Operation Delta Sanity in January 2024, over 827 illegal refining sites have been deactivated, 35 ships have been arrested, and 65 suspects apprehended, denying oil thieves substantial quantities of crude oil and refined products worth billions of naira.
Vice Admiral Ogalla emphasized the need to protect and harness these maritime resources effectively, noting that Nigeria’s maritime domain holds an estimated 36 billion barrels of oil and 182 trillion cubic feet of gas reserves.
He outlined various strategies employed by the Nigerian Navy to safeguard these assets, including the Total Spectrum Maritime Strategy (TSMS) and the NN Trinity of Action, which focuses on surveillance, response capability, and law enforcement. Additionally, he underscored the operational response through Operation Delta Sanity, aimed at eradicating crude oil theft.
Addressing challenges faced by the Navy, particularly the inadequate prosecution of maritime crimes, he advocated for the establishment of Special Maritime Courts.
The lecture received a positive response from the university community, with the CNS engaging in a Q&A session with students.
