Log in or register
Share on LinkedInShare on LinkedIn

ARTICLE · 08 MARCH 2024

Market Intelligence Thought Leadership Award Winner

The Regulatory Framework Of The Nigerian Blue Economy

AELEX
AELEX
Contributor
Explore more from AELEX

In this article, our Rafiq Anammah and Linda Ezenyimulu undertake an overview of the regulatory framework of the Nigerian blue economy.

NigeriaStrategy
Rafiq Anammah
Rafiq Anammah
Linda Ezenyimulu
Linda Ezenyimulu
Author LinkedIn connections

INTRODUCTION

In August 20231, the President of the Federal Republic of Nigeria, Bola Ahmed Tinubu, announced the creation of new ministerial portfolios. Part of the new portfolios created by the Tinubu Administration is the Ministry of Marine and Blue Economy, which is headed by Hon. Minister Gboyega Adetola.

The creation of the Ministry is an exciting development for Nigeria and the maritime industry. It shows Nigeria's interest in harnessing the vast economic opportunities that abound in our oceans and other aquatic ecosystems. In Africa, countries like South Africa, Seychelles, and Mauritius are already active players in the blue economy.2 In Seychelles, tourism accounts for about 16.5% of its GDP. Tourism is Mauritius' biggest ocean export.3 While the creation of the Ministry is laudable, the key consideration is whether Nigeria has the regulatory framework for the actualisation of blue economy.

We operate a free-to-view policy, asking only that you register in order to read all of our content. Please login or register to view the rest of this article.

Register for freeORLog in

Related Articles

Legal Intelligence Newsletters: sign up for the latest legal and regulatory news on your chosen topics

Read more about

See more popular content from

Article

Power Sector Updates - August 2026

Nigeria's power sector experienced significant regulatory and industry developments in August 2026, including NERC's intervention in Kaduna Electricity Distribution Plc, the transfer of regulatory oversight to state commissions, and the launch of a Renewable Asset Management Company. These developments demonstrate the continuing implementation of Nigeria's decentralised electricity market framework and increased regulatory intervention in distressed distribution businesses.
NigeriaStrategy
Udo Udoma & Belo-Osagie
Udo Udoma & Belo-Osagie
Article

GOVERNING INTELLIGENCE: How Nigeria Can Balance AI Regulation And Innovation.

Nigeria stands at a critical juncture in artificial intelligence governance, facing the challenge of creating a regulatory framework that protects citizens while enabling innovation and economic growth. Drawing from the AI Summit 2026 convened by legal and government stakeholders, this report examines how Africa's largest economy can position itself to capture value from AI without stifling the entrepreneurship and adoption needed for national development.
NigeriaStrategy
T & A Legal
T & A Legal
Article

The Cloud Is Not Borderless: The Growing Importance Of Data Localisation In Nigeria

Cloud computing has revolutionized data accessibility and business operations, yet the physical location of data remains subject to jurisdictional laws and regulatory oversight. As Nigeria emerges as one of Africa's largest digital markets, recent regulatory developments including the Central Bank's payment data localization requirements signal a strategic shift toward strengthening domestic control over critical digital infrastructure.
NigeriaStrategy
Babalakin & Co
Babalakin & Co
Article

Nigeria's 15% Minimum Effective Tax Rate (Metr): Analysis For Multinational Enterprises And Large Domestic Companies

A major innovation introduced by the Nigeria Tax Act (the “NTA”) is the 15% Minimum Effective Tax Rate (the “METR”), which represents a fundamental shift in Nigeria’s corporate tax framework. The METR is intended to guarantee that companies of significant economic scale bear a minimum tax burden, notwithstanding the availability of incentives, exemptions, or reliefs.
NigeriaTax
AELEX
AELEX
Article

Innovative Trade Finance: Promoting Inclusivity, Resilience And Interoperability Through Digitalisation

The increasing digitalisation of global commerce fundamentally transforms how Trade Finance is deployed and accessed by businesses. The International Chamber of Commerce (“the ICC”) defines Trade Finance as the invisible bridge that makes global trade flow. Trade Finance connects entities across continents, mitigates payment risks and is enzymatic to market progression and economic stability.
NigeriaInternational Law
AELEX
AELEX
Article

Data Localisation In Nigeria: Separating Myth From Reality

Artificial intelligence, cloud computing, cybersecurity and digital sovereignty have fundamentally changed the way governments think about data. Around the world, policymakers are increasingly asking where data should be stored, who should have access to it and under what circumstances it should leave national borders. These questions are no longer confined to technology policy, they have become matters of economic policy, national security, industrial development and international trade.
NigeriaTechnology
AELEX
AELEX