New Telegraph

World Bank unveils agenda for Nigeria, others in $300bn blue economy

The World Bank has promised to work with Nigeria and other African coastal countries to leverage opportunities and manage the risks inherent in growing their budding $300billion blue economies. Of the amount, Nigeria could create 20million jobs realised more than $53billion annually from the scheme.

The Blue Economy consists of fisheries, coastal tourism, marine transport, offshore renewable energy, marine-based blue economy, marine mineral resources, waste management, climate change of blue biotechnology among others. The global bank explained that unsustainable infrastructure development, inadequate management of natural habitats and resources, and pollution were threatening the productivity of the blue economy. It revealed at the United Nations Framework Convention on Climate Change’s annual Conference of the Parties (COP27) that it was pioneering Blue Economy for Resilient Africa Programme (BERAP).

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