EVALUATING THE IMPACT OF BLUE ECONOMY SECTOR ON NIGERIA'S ECONOMIC GROWTH

This study evaluates the impact of blue economy sectors on Nigeria’s economic growth over the period 1981–2024, using advanced econometric techniques to uncover long-run relationships. The study employs Fully Modified Ordinary Least Squares (FMOLS) and Johansen Cointegration Tests to assess the long-term contributions of these sectors to Nigeria’s Gross Domestic Product (GDP). Unit root tests confirm the stationarity of the data, while diagnostic tests such as the Breusch-Godfrey serial correlation LM test, White’s heteroscedasticity test, and CUSUM stability test validate the robustness and reliability of the estimated models. Empirical results reveal that all three blue economy sectors have a statistically significant and positive long-run relationship with Nigeria’s GDP, with marine biotechnology and renewable energy emerging as untapped but high-potential contributors. These findings are consistent with similar studies in other developing and coastal economies and highlight the need for strategic investment in these underutilized sectors. The findings underscore the necessity of policy frameworks that prioritize blue economy development as a pathway to economic diversification, sustainable growth, and environmental stewardship