Nigeria could unlock more than N400 billion in annual economic value and create over 50,000 jobs within five years by developing marine biomass and shifting its ports to cleaner energy systems, according to the Sea Empowerment and Research Centre.
In its latest policy bulletin titled “Advancing the Renewed Hope Agenda through Marine Biomass Utilisation and Green Port Energy Transition,” the group outlined a combined investment plan of N370 billion to N530 billion. The proposed investment would cover marine biomass processing, energy transition at ports, and development of coastal enterprises, positioning the maritime sector as a key contributor to the federal government’s Renewed Hope Agenda, The Nation reported.
The report described these measures as practical and scalable steps that could reduce port costs, improve efficiency, and turn environmental challenges into economic opportunities.
Eugene Nweke, Head of Research at SEREC, said the approach focuses on converting marine-related environmental issues into economic assets that can create jobs and support growth.
A major part of the plan includes investing between N120 billion and N150 billion in marine biomass processing. This would target invasive species such as Nypa palm and water hyacinth. The initiative is expected to generate N180 billion to N250 billion annually through products such as biofuels, organic fertilisers, and fibre-based materials, with a payback period of 18 to 30 months.
SEREC estimates that this segment alone could create between 25,000 and 30,000 direct jobs through the establishment of 10 to 15 processing hubs, along with investments in logistics, small business financing, and research.
The report added that converting Nypa palm into export-oriented products such as sweeteners, roofing materials, and bio-ethanol blends could bring in an additional N60 billion to N100 billion each year, supporting rural industries and exports.
Another key proposal is a green energy transition programme for ports, requiring an investment of N200 billion to N300 billion. This would involve installing solar-based hybrid systems, battery storage, and shore power infrastructure at major ports.
According to SEREC, the transition could reduce diesel use by 30 to 50 per cent, lower cargo handling costs, and improve ship turnaround time. Annual savings from these changes are estimated at N120 billion to N180 billion, with a payback period of two to four years.
