The Role of Blue Financing in Blue Economy in Nigeria

Abstract: The study examined the role of blue finance on blue economy in Nigeria for the period 2000 to 2023. The specific objectives of the study were to ascertain whether blue financing factors such as government expenditure on agriculture (GEXAGR), loans to agriculture and fishery (LAGFISH), agricultural credit guarantee scheme funds (ACGSF) and employment rate (EMPR) significantly impact blue economy. For this reason, the ordinary least square (OLS) technique was employed for the analysis of data. The result obtained indicate that government expenditure on agriculture (GEXAGR) does not have significant impact on blue economy; loans to agriculture and fishery (LAGFISH) had a significant negative impact on blue economy; while agricultural credit guarantee scheme funds had a significant positive impact on blue economy, employment rate (EMPR) had a weak negative impact on blue economy. The study recommends among others that, government should have specific budgetary allocation directly targeted at promoting the blue economy like the way it is done by the advanced countries. This way, government expenditure will positively impact blue economy in Nigeria. JEL Classification: O44, Q14, Q22, H5, C4. Keywords: Blue Economy, Blue Finance, Fishery, Aquaculture, Government Expenditure, Statistical and Econometric Methods. Title: The Role of Blue Financing in Blue Economy in Nigeria Author: OMOGBAI, Courage Agbologa, OSIFO Kessington Edos International Journal of Management and Commerce Innovations ISSN 2348-7585 (Online) Vol. 13, Issue 1, April 2025 - September 2025 Page No: 520-530 Research Publish Journals Website: www.researchpublish.com Published Date: 15-September-2025 DOI: https://doi.org/10.5281/zenodo.17123963 Paper Download Link (Source) https://www.researchpublish.com/papers/the-role-of-blue-financing-in-blue-economy-in-nigeria