Maritime Expert, Dr Charles Okorefe has said International maritime conventions should no longer be viewed solely as regulatory obligations, but as potential sources of new businesses and investment opportunities for Nigerian entrepreneurs.
Okorefe made the submission while delivering the keynote address at the 2026 Maritime Training Summit and Awards organised by the Association of Maritime Journalists of Nigeria (AMJON) in Lagos.
Speaking on the theme, “The Power of Innovation in a Future-Ready Maritime Training Agenda,” he said Nigeria could leverage its obligations under major international maritime agreements to develop new services, industries and businesses within the country’s emerging Blue Economy.
He identified the United Nations Convention on the Law of the Sea (UNCLOS), the International Convention for the Prevention of Pollution from Ships (MARPOL), the Convention on Biological Diversity (CBD) and the African Continental Free Trade Area (AfCFTA) as frameworks that could create opportunities for Nigerian businesses.
According to Okorefe, the country’s vast maritime domain and growing Blue Economy ambitions provide an opportunity for entrepreneurs to develop solutions around the requirements created by these international frameworks.
He said MARPOL, for instance, could stimulate businesses in ship waste management, eco-friendly fuel supply, recycling, port reception facilities, consultancy and maritime compliance training.
“If vessels must adhere to the provisions of the MARPOL Convention, then someone must provide the requisite solutions necessary for compliance,” he said.
Okorefe said Nigerian small and medium-sized enterprises could therefore develop specialised services that help shipping companies and ports meet environmental and operational requirements.
He also identified opportunities arising from the Convention on Biological Diversity, including eco-tourism, mangrove restoration and environmentally sustainable aquaculture.
Such ventures, he said, could simultaneously support environmental conservation and generate economic opportunities, including access to donor-funded projects.
AfCFTA offers regional maritime opportunities
The maritime expert further urged Nigerian entrepreneurs to take advantage of the African Continental Free Trade Area, describing it as one of the biggest market opportunities available on the continent.
He said the agreement could enable Nigerian businesses involved in fisheries, aquaculture and coastal logistics to expand into other African markets, provided their products meet the required rules of origin.
Processed seafood products, including fish, lobsters, oysters and shrimps, could gain access to neighbouring markets with fewer trade restrictions, he said.
He added that coastal logistics operators could expand their networks across borders while businesses could leverage regional certification schemes and trade platforms to grow their operations.
According to him, the opportunities demonstrate why stakeholders must begin to look at the Blue Economy beyond traditional shipping and port operations.
Nigeria must turn maritime resources into economic value
Okorefe said Nigeria’s maritime potential was significant, given its extensive coastline, inland waterways and Exclusive Economic Zone.
He, however, challenged stakeholders to examine how effectively the country was converting these resources into economic value.
Since the creation of the Ministry of Marine and Blue Economy in 2023, he noted, expectations had risen about the maritime sector’s capacity to contribute more substantially to national development.
The key challenge, he said, was to develop innovative approaches capable of transforming Nigeria’s maritime resources, international obligations and regional market access into tangible economic opportunities.
Okorefe also stressed the importance of technology, identifying Artificial Intelligence, blockchain, Internet of Things, robotics and big data as some of the disruptive technologies that would shape the future of maritime operations.
He called for greater investment in infrastructure, research and human capital to ensure Nigeria remains relevant as the global maritime industry undergoes rapid technological transformation.
He said the country must move beyond merely responding to changes in the global maritime environment and begin proactively creating solutions and businesses around emerging trends.