The Tale of Ibaka in the Face of the Blue Economy: Putting Akwa Ibom State at the Height of a Maritime Hub

Abstract

This paper focuses on the significance of the blue economy in the growth of the Nigerian economy using the Ibaka (Ibom) deep seaport as the template for a sustainable blue economy program. The paper argues that, despite the blue economy's significant contributions to the economies of both developed and developing nations, particularly through deep seaports, efforts to realize the Ibom deep seaport for the growth of Nigeria's economy are hindered by a lack of political will, chauvinistic agendas, and insufficient collaboration with relevant stakeholders. This paper suggests that there must be a coherent regulatory landscape, with an urgent need for resolute governmental intervention, in view of the identified limitations associated with the realization of the Ibaka deep seaport. There should also be an interplay between international laws and treaties and national legislation, which must be directed at accentuating prudent resource allocation towards sustainable blue initiatives, steadfast research, and cutting-edge technology development.