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Blue Economy Awakens? Indigenous Investors Storm NIWA Lagos Office With Bold Tourism Revival Plan

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A coalition of indigenous maritime tourism and transportation investors has pledged to unlock strategic investment opportunities aimed at developing Nigeria’s vast but largely untapped maritime tourism economy for the benefit of littoral communities in Lagos and across the country.

The group, Allied Concessionaries and Blue Economy Alliance, made the commitment during a courtesy visit to the Lagos Area Manager of the National Inland Waterways Authority (NIWA), Engineer Sarat Braimah, on Tuesday at the NIWA Lagos Area Office.

Speaking during the visit, Chairman of the coalition, Bolaji Olasade, explained that the alliance is made up of reputable and experienced maritime tourism and transportation operators committed to redefining waterfront recreation and hospitality by integrating safe and efficient water transportation systems. He noted that the initiative is designed to create jobs, boost coastal tourism, and expand economic opportunities within Lagos and beyond.

“We came to formally introduce our coalition, which is not a conventional association but a consortium of visible and tested operators, mostly concessionaires, who are willing and ready to collaborate with NIWA to grow and develop inland waterways tourism infrastructure. We are also focused on opening up littoral communities through destination marketing and the promotion of resorts,” Olasade stated.

He added that the group seeks to reposition Nigeria’s brown water and blue economy sectors by transforming the country’s waterfront hospitality and tourism landscape into a globally competitive industry.

In her remarks, the Secretary of the coalition, Barrister Dorcas Aderemi, emphasized that the Nigerian marine and blue economy sector can only thrive when the inland waterways ecosystem is strategically aligned for sustainable investment and funding. She called for a structured public-private partnership model between the private sector and NIWA to fast-track development and enhance inland waterways utilization.

According to her, such collaboration would not only stimulate economic growth and job creation but also significantly boost government revenue and national development.

The group commended Engineer Braimah for her leadership and commitment to industry growth, particularly her zero-tolerance stance on boat transportation accidents and security infractions on inland waterways in Lagos. They also congratulated her on her recent Nelson Mandela Pan-African Leadership Award, describing it as a testament to her dedication to national service.

Responding, Engineer Braimah welcomed the delegation and expressed appreciation for their interest in partnering with NIWA. She assured them of the Authority’s willingness to collaborate in unlocking opportunities within the inland waterways corridor in Lagos and across Nigeria.

“We are pleased to receive you and have listened carefully to your intentions to collaborate with us. We recognize that NIWA cannot achieve its mandate alone without the private sector, especially serious investors with genuine financial commitments to the industry. We will communicate your proposals to our headquarters in Abuja to explore how your group can leverage existing opportunities,” she said.

The Area Manager further highlighted the need to modernize inland water transportation by introducing new boats and ferries to gradually phase out outdated watercraft, thereby enhancing safety, efficiency, and value across the waterways transportation and hospitality sectors.

She concluded by urging the coalition to remain united, avoid internal conflicts, and focus on delivering meaningful impact, particularly for littoral communities that must be actively engaged and empowered to benefit from maritime tourism and transportation opportunities within their environment.

   

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Time Nigeria is a modern and general interest Magazine with its Headquarters in Abuja. The Magazine has a remarkable difference in editorial philosophy and goals, it adheres strictly to the ethics of Journalism by using the finest ethos of the profession to promote peace among citizens; identifying and harnessing the nation’s vast resources; celebrating achievements of government agencies, individuals, groups and corporate organizations and above all, repositioning Nigeria for the needed growth and development. Time Nigeria gives emphasis to places and issues that have not been given adequate attention by others. The Magazine is national in outlook and is currently being read and patronized both in print and on our vibrant and active online platform (www.timenigeria.com).
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The Missing Middle of Infrastructure Finance: Why Capital Still Fails to Become Infrastructure

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  By Chidi Nwafor  In October 2023, a Gulf sovereign wealth fund quietly closed a $2 billion allocation to global infrastructure, earmarked in part for emerging-market energy and transport assets. The announcement drew the usual applause: another sign, commentators said, that institutional capital was finally waking up to the infrastructure opportunity in the Global South. Eighteen months later, less than a tenth of that allocation had actually left the fund’s balance sheet. Not because the mandate had changed. Not because the fund had lost appetite. According to two people familiar with the portfolio, the constraint was simpler and more uncomfortable: there were not enough investable projects to put the money into. This is not a story about a reluctant investor. It is a story about capital that wants to move, cannot find enough places willing and able to receive it in a form it can underwrite, and quietly waits instead. Multiply that fund by the hundreds of pension schemes, sovereign wealth vehicles, commercial banks and infrastructure funds now carrying dedicated allocations for emerging-market infrastructure, and a pattern emerges that rarely makes it into a headline: the world is not short of capital for infrastructure. It has capital in historic abundance, sitting adjacent to a historic infrastructure gap, unable to cross the distance between the two. The Comfortable Explanation  The explanation on offer at every major infrastructure summit is a familiar one. Global infrastructure investment needs run into the tens of trillions of dollars over the coming decade; committed capital falls well short; therefore, the problem is one of insufficient funding, and the solution is more of it: more pledges, more blended-finance facilities, more climate funds, more multilateral capital increases. It is a comfortable explanation because it assigns responsibility clearly to governments who under-fund, institutions who under-commit, and it offers a clean remedy: raise more. It is also, on close inspection, not what the evidence shows. Pension funds globally hold trillions in assets under management with explicit infrastructure allocations that remain structurally underweight, not because trustees have rejected the asset class but because deal flow meeting their risk and governance thresholds has not materialised at the pace their mandates assume. Sovereign wealth funds report the same pattern. Commercial banks with dedicated project finance desks describe pipelines that look full at the term-sheet stage and thin dramatically by financial close. Development finance institutions, whose entire purpose is to absorb risk that commercial capital will not, routinely report that their binding constraint is not capital adequacy but the volume of bankable transactions their teams can originate and structure in a given year. None of this fits the scarcity narrative. All of it fits a different one. Availability Is Not Deployability  Capital availability and capital deployability are not the same condition, and the conflation of the two is doing real damage to how the world thinks about the infrastructure gap. Availability asks whether money exists somewhere with a mandate that could, in principle, be pointed at infrastructure. Deployability asks something much narrower and much harder: whether a specific project, at a specific moment, has been engineered, structured, documented and de-risked to the point where an investment committee can approve it without exception. The first condition is met, overwhelmingly, across nearly every category of capital that matters to infrastructure. The second is met by only a small fraction of the projects competing for it. The result is a market that looks, from the outside, like a financing gap, and functions, from the inside, like a conversion problem: an abundance of capital on one side, an abundance of infrastructure need on the other, and an underbuilt set of mechanisms in between capable of turning one into the other at any meaningful scale. Where the Conversion Breaks  The break does not happen at the ends of the process. It happens in the middle, in the unglamorous sequence of work that turns a plausible concept into an instrument a fiduciary can sign. A promising transmission project needs a feasibility study rigorous enough to survive institutional scrutiny rather than optimistic enough to attract early interest. It needs offtake arrangements that hold up under real counterparty and currency risk, not the counterparty risk assumed in a base case. It needs environmental and social documentation calibrated to the standards of the institutions being asked to fund it, not the standards of the jurisdiction hosting it. It needs a legal and commercial structure that allocates risk in ways a commercial lender, not only a development financier, will accept. It needs a sponsor capable of executing what has been proposed, not merely capable of proposing it. Each of these is ordinary project finance discipline. None of it is exotic, and in mature infrastructure markets it happens as a matter of course, absorbed into systems built over decades: specialist advisers, standard-form contracts, established procurement norms, deep pools of transaction expertise. What is missing in the markets where the infrastructure gap is largest is not the standard itself but the machinery that meets it. Projects arrive at investment committees with ambition intact and preparation incomplete, and that gap is treated, again and again, as an individual project’s failure rather than what it actually is: a structural absence in the systems responsible for producing investable transactions at scale. The Missing Middle  This is the Missing Middle of Infrastructure Finance: the institutional architecture that sits between capital that wants to move and infrastructure that needs building, and whose incompleteness explains far more of the global infrastructure gap than any shortfall in committed funds. It consists of project preparation facilities able to fund feasibility and structuring work before commercial viability has been proven. Transaction advisers capable of building deals that satisfy development mandates and commercial return thresholds at once, rather than treating the two as separate constituencies to be managed sequentially. Risk-sharing and guarantee instruments that convert political, regulatory and currency risk into something a commercial balance sheet can underwrite. Aggregation platforms that bundle smaller, individually sub-scale projects into portfolios large enough to justify institutional transaction costs. Standardised documentation that reduces the bespoke legal cost of every new deal. And coordination across ministries, regulators and financiers robust enough that a technically sound project does not die in bureaucratic sequencing after the money has already been found. None of these are new ideas in isolation. What is missing is their assembly into a coherent system, deliberately funded and institutionally accountable, rather than scattered across donor-funded pilots that end when the grant does. The African Dimension  Africa makes this dynamic unusually visible, and consequently offers an unusually clear opportunity to correct it. The continent’s infrastructure financing need, by any measure, is vast. Less understood is that the shortfall is disproportionately one of preparation rather than capital. Nigerian gas-to-power, off-grid solar and mini-grid developers have each demonstrated that individual projects can clear the bankability bar; what has not emerged is systemic pipeline scale, a steady stream of comparably prepared projects large enough to absorb the capital already circling the sector. The pattern repeats, with local variation, from grid infrastructure in East Africa to transport corridors in West Africa. Interested capital is rarely the scarce input. Investment-ready projects are. The Global Comparison  Mature markets solved this problem gradually and mostly invisibly, through decades of institution-building that predates the current infrastructure conversation: specialist project finance units inside banks, standardised PPP frameworks, established regulatory playbooks, deep benches of transaction lawyers and engineers who move between deals rather than between one-off assignments. Emerging and frontier markets are not being asked to meet a lower standard. They are being asked to meet the same standard without having built the same machinery, and then being told, when deals fail to close, that the problem is insufficient funding….
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Union Bank, AIICO Multishield, Checkers Custard, Others Back 5th Cycling Lagos

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Union Bank of Nigeria Plc, AIICO Multishield, Checkers Custard and other corporate organisations have thrown their weight behind the 5th Cycling Lagos,…
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