The Lagos-Calabar Coastal Highway promises to revolutionize Nigeria's blue economy, significantly boosting maritime trade, tourism, and fisheries, and contributing billions annually to Nigeria's GDP.
The Lagos-Calabar Coastal Highway is anticipated to be a significant economic catalyst for Nigeria , especially in boosting its blue economy . This 700-kilometer infrastructure project aims to enhance maritime trade , tourism, fisheries, and other coastal industries, contributing billions annually to Nigeria 's GDP.
With Nigeria's ports handling over 100 million metric tons of cargo each year, the highway is expected to improve efficiency and capacity, potentially increasing trade revenues by up to $5 billion yearly. Investments in modern port infrastructure and logistics hubs are crucial to unlocking this potential. In terms of tourism, Nigeria's coastal areas offer vast opportunities, with attractions like Calabar's carnivals and Akwa Ibom's beaches. The improved accessibility via the highway could increase tourist numbers by 30-40% over the next decade, adding $3 billion annually to the GDP through hospitality, cultural tourism, and eco-tourism. Investments of around $1 billion in resorts, transportation, and marketing are necessary to develop and sustain these attractions. Additionally, the Nigerian fishing industry, which contributed 1.16% and 0.47% to GDP in 2021 and 2022 respectively, could see a 20-30% increase in its contribution if enhanced road networks connect fishing communities to urban markets. This growth could generate an additional $300 million annually, supported by investments in aquaculture facilities, cold storage, and fish processing plants
Lagos-Calabar Coastal Highway Nigeria Blue Economy Maritime Trade Tourism Fisheries
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