The International Real Estate Federation (FIABCI), Nigeria Chapter, has urged its members to capitalize on the burgeoning blue economy, a sector poised for significant growth and offering a plethora of opportunities for real estate professionals. This call to action was made during the association’s 2025 general meeting, which featured a lecture titled “The Blue Economy Revolution: Emerging Opportunities for Real Estate Players.” Ubong Essien, former special adviser on communication and strategy to the Director-General of the Nigerian Maritime Administration and Safety Agency (NIMASA), delivered the keynote address, emphasizing the immense potential of the blue economy and its capacity to generate wealth and benefit the Nigerian populace.
Essien highlighted the substantial economic value of the blue economy, estimated at $1.5 trillion globally, with Nigeria positioned to capture a significant portion due to its extensive water ecosystems. He pointed out that the vast majority of global trade occurs via oceanic routes, underscoring the importance of harnessing this potential for economic gain. Essien identified several key areas within the blue economy ripe for exploration by real estate practitioners, including the development of blue cities and estates, fostering blue commerce, addressing blue climate concerns, mobilizing blue capital, nurturing blue talent, promoting effective blue governance, and harnessing blue power through renewable energy sources. He urged estate surveyors, valuers, and other real estate professionals to actively engage with this emerging sector to drive economic growth, improve livelihoods, create employment opportunities, and safeguard the marine environment by combating pollution.
Beyond advocacy, Essien challenged FIABCI members to actively participate in policy implementation related to the blue economy, ensuring its potential is fully realized. This proactive approach necessitates collaboration with government authorities and stakeholders to translate policy into tangible outcomes. He emphasized the need for real estate professionals to be at the forefront of this transformative process, contributing their expertise and insights to shape the development of the blue economy in Nigeria. This proactive involvement will ensure the sustainable and responsible utilization of marine resources, creating a thriving blue economy that benefits both the environment and the Nigerian people.
Concurrently, FIABCI Nigeria President, Akin Opatola, welcomed 15 newly inducted members, urging them to adhere to the highest ethical standards and maintain transparency in their professional endeavors. He stressed the importance of professionalism in all transactions, emphasizing the association’s 52-year legacy of rigorous member selection. The inductees were reminded of the significance of their membership and encouraged to embody the core values of collaboration, sincerity, transparency, and diligence. Opatola underscored the need for members to exemplify leadership qualities, inspiring trust and respect within the profession. This commitment to ethical practice and professionalism will enhance the credibility and reputation of FIABCI, strengthening its position as a leading voice in the real estate sector.
Opatola explained that the theme of the blue economy was chosen to align with the government’s focus on achieving a $1 trillion economy and to explore the opportunities it presents for FIABCI members. He solicited support for the upcoming FIABCI 75th World Real Estate Congress to be held in Nigeria, emphasizing the importance of this international event in showcasing the country’s real estate potential. The congress provides a platform for knowledge sharing, networking, and collaboration, further promoting the development of the real estate sector and attracting global investment. By actively participating in this global forum, FIABCI Nigeria aims to contribute to the growth and advancement of the real estate industry both domestically and internationally.
During the induction ceremony, Adeniji Adele, President of FIABCI Africa and Near East, administered the oath of allegiance to the new members, urging them to uphold the association’s mission statement and maintain high ethical standards throughout their professional careers. He encouraged them to adhere to FIABCI’s standards and ethics in both local and international transactions, emphasizing the importance of integrity and professional conduct, particularly in cross-border dealings. This commitment to ethical practice will reinforce the association’s reputation as a trusted and respected global organization, fostering collaboration and facilitating international real estate transactions.
