Nigeria is rapidly losing ground to peers such as Indonesia in the global contest for maritime dominance, the Chief Executive Officer of the Maritime Innovations Hub, Ms Ronke Kosoko, has warned, citing weak execution, fragmented policies and systemic inefficiencies.
Kosoko drew a stark comparison between the two countries, noting that Nigeria and Indonesia posted similar gross domestic product figures of about $260 billion in 1997. By 2024, however, Indonesia’s economy had expanded beyond $1.3 trillion, while Nigeria’s GDP stood at about $252 billion. According to her, the widening gap reflects policy incoherence and poor implementation that continue to divert shipping traffic and investment to neighbouring countries, including Togo.
Speaking at a media parley ahead of the Blue Economy Investment Summit, Kosoko said closing the gap would require urgent investment, innovation and disciplined execution. “Talk is cheap; execution is expensive—and Nigeria cannot afford to waste another decade,” she said.
Addressing lawmakers, policymakers, investors, development partners and journalists, Kosoko stressed that the summit would prioritise measurable outcomes over rhetoric. “This is not just an event; it is a movement,” she said, reflecting on her 15 years in the maritime sector.
She recalled joining the industry in 2010 as a young economics graduate, confident that Nigeria could generate as many as 20 million maritime-related jobs. Fifteen years later, she noted, fewer than one million jobs have been created, despite landmark interventions such as the Local Content Act. Political fragmentation, leadership disputes and the loss of experienced professionals—the so-called “dying generation”—have, she said, created a critical knowledge and capacity gap.
Kosoko lauded the current administration for what she described as a break from years of stagnation. Within 72 hours of assuming office, the Minister of Transport convened a broad-based stakeholder engagement devoid of entrenched politics. “Ministers often deliver speeches and leave without understanding operational realities. This time, the Minister moved from table to table, listening directly to players across the value chain,” she said.
She argued that innovation and strategic execution, powered by collaboration between younger professionals and seasoned experts, are essential to bridging Nigeria’s projected $750 billion economic gap over the next four years.
The Maritime Innovations Hub CEO highlighted tangible gains under the current administration, including a $1 billion port rehabilitation programme across eastern, western and southern ports, approval for the Bakassi Deep Sea Port and additional deep-sea port developments modelled after Lekki.
She also cited the revival of the maritime studies department at the University of Lagos with support from the Nigerian Maritime Administration and Safety Agency (NIMASA), as well as Nigeria’s return to the International Maritime Organization (IMO) Council after 40 years, signalling renewed global engagement.
“Nigeria has natural advantages—a vast coastline, a sizeable exclusive economic zone and a population of over 200 million. Strategically, we should be West Africa’s maritime hub,” Kosoko said.
Returning to the Indonesia comparison as a wake-up call, she added: “In 1997, our economies were on par. Today, Indonesia’s GDP is more than five times ours. Shipping traffic and investments are flowing to neighbouring countries because of our inefficiencies.”
She explained that the Blue Economy Investment Summit is designed to tackle these bottlenecks by convening lawmakers, investors, development partners, academia and private-sector players to produce actionable roadmaps for sustainable maritime investment and reform.
According to Kosoko, the summit will focus on practical outcomes, including showcasing investment opportunities across the maritime value chain, facilitating dialogue on policy and regulatory reforms, improving cost efficiency, enhancing port connectivity, strengthening trade policy and upgrading coastal infrastructure. She cited Ondo State’s bitumen deposits as an example, noting that poor logistics and inland connectivity often make it easier to import goods than to move products between Nigerian states—underscoring the urgency of modernising inland waterways.
Human capital development, she said, remains central to the agenda, with plans to onboard one million young Nigerians into the Blue Economy over the next decade. Gender inclusion will be guided by a five-year framework developed with United Nations agencies. Kosoko also disclosed a $100 million youth development fund to support training across 20 states, alongside partnerships with the National Inland Waterways Authority (NIWA), the Nigerian Ports Authority (NPA) and other agencies to ease investment flows and support youth-led startups. “Lost opportunities in the past—such as funding that could have empowered over 20,000 youths—must not be repeated,” she warned.
Also speaking, the Special Assistant to President Bola Tinubu on Social Media, Mr Dada Olusegun, underscored the role of digital platforms in advancing Nigeria’s Blue Economy, particularly among young people. He praised Princess Ronke Kosoko, a senior fellow of the Nigerian Federal Flags Association, for her long-standing commitment to youth empowerment and patriotism.
Olusegun said government must engage young Nigerians where they already are—online—by simplifying complex policies, linking them to everyday realities and partnering with influencers to communicate in local languages. Digital communities, he added, are critical for sharing information on jobs, training, scholarships and investment opportunities.
Kosoko concluded with a pointed message: “Infrastructure alone is not enough. We cannot build a $1 trillion economy without developing young people with the skills, confidence and opportunity to lead the next phase of growth.”
Together, the speakers warned that Nigeria’s maritime potential remains vast, but without strategic execution, innovation and deliberate youth inclusion, the country risks falling even further behind competitors such as Indonesia.
Weak Execution, Policy Gaps Push Nigeria Behind Indonesia in Maritime Race — CEO
