Delta Can Drive Economic Growth By Unlocking Marine, Waterway Potential

Delta State can accelerate sustainable economic growth by unlocking the vast potential of its inland waterways and marine assets, blue economy expert Princess Ronke Kosoko has said.

Speaking during a panel session at the ongoing Delta State Economic and Investment Summit, Kosoko described the state’s water resources as its greatest untapped economic asset, saying Delta already possesses the natural endowments needed to become Nigeria’s leading marine economy if government shifts its focus from strategy formulation to implementation.

She said the state has enormous opportunities across fisheries, aquaculture, inland waterways, shipping, maritime logistics, boat construction, tourism and more than 100 other water-based value chains that remain largely underdeveloped.

Referring to the keynote address delivered by Ngozi Okonjo-Iweala, Kosoko urged Delta to position itself as Nigeria’s marine hub, arguing that it already has much of the ecosystem required to achieve that ambition.

“The money is in the water. When we talk about the blue economy, we are talking about fisheries, aquaculture, shipping, inland waterways, maritime services, human capital development and well over one hundred different value chains connected to water,” she said.

Kosoko noted that discussions throughout the summit had consistently identified the blue economy as one of Delta’s strongest investment opportunities, stressing that coordinated implementation is now required.

She explained that the federal government established the Ministry of Marine and Blue Economy to support Nigeria’s ambition of building a one-trillion-dollar economy through sectors capable of creating jobs, attracting investment and boosting exports.

According to her, the ministry has developed a National Marine and Blue Economy Policy for 2025–2034, which states should domesticate by identifying areas of comparative advantage and creating structures that attract private investment.

Using Lagos State as an example, Kosoko recalled how the administration of former Governor Babatunde Fashola transformed water transportation through the establishment of the Lagos State Waterways Authority (LASWA), despite inland waterways remaining under federal oversight.

She said Lagos created a comprehensive waterways map and provided investors with detailed information on traffic routes, dredging requirements and commercial opportunities, helping to attract hundreds of millions of euros in foreign investment.

“Investors knew exactly where to invest in passenger transport, cargo movement, logistics, fisheries and every other related activity,” she said.

Kosoko urged Delta to replicate the model by mapping its waterways and presenting investors with clear opportunities across its riverine communities.

She also highlighted the economic opportunities expected from major federal infrastructure projects, including the Lagos-Calabar Coastal Highway, the Sokoto-Badagry Super Highway and the Lagos-Abidjan transport corridor, noting that they would stimulate fishing, marine transport, boat construction and other related industries.

“The next step is to focus on your inland waterways. When investors arrive and immediately see how waterways connect communities across Delta State, they will understand where the opportunities are,” she said.

Addressing how the blue economy can directly benefit local communities, Kosoko said Delta’s artisanal fishermen and fisherwomen should become the foundation of the state’s blue economy strategy.

She called for a comprehensive identification and documentation of fishing communities before investments are made in modern equipment, financing and logistics.

“I’m a very practical person, so I don’t speak in theory,” she said, recalling that she had previously advised the Federal Government to study traditional fishing settlements such as Makoko in Lagos to better understand community-based marine enterprises.

Kosoko recommended using existing identity platforms such as the National Identification Number (NIN) and Bank Verification Number (BVN) to enumerate fishing communities, saying they already possess the skills needed to drive a thriving fisheries economy.

“These waters belong to us. These fishermen and fisher women belong to us. We want to create social and economic value from what they already do,” she said.

She observed that many local fishermen still depend on traditional wooden boats and lack the financial capacity to acquire modern fishing vessels, urging government and private investors to develop financing models that would enable them to upgrade their operations.

Kosoko further argued that inland waterways should become an extension of Delta’s agricultural economy by improving the movement of farm produce across Nigeria and into regional markets.

She said stronger investment in dredging, water transportation, cold-chain infrastructure and marine logistics would reduce post-harvest losses, raise farmers’ incomes and expand opportunities for small and medium-sized enterprises (SMEs).

Citing concerns raised during another summit session that cassava-processing factories in other parts of the country had shut down because of raw material shortages despite Delta’s abundant cassava production, she stressed the need for better transport and logistics.

“The question is: how do you connect these opportunities and ensure they move efficiently?” she asked.

Kosoko maintained that the ultimate goal of the blue economy should be to increase household incomes by commercialising existing economic activities rather than replacing them.

“How do we generate more income? How do we put more money into the pockets of our people? How do we help them commercialise what they are already producing? Those are the real opportunities for SMEs,” she said.

She concluded that Delta’s economic transformation would depend on converting its abundant water resources into productive investments capable of generating employment, expanding local industries and strengthening the state’s long-term revenue base.