Abstract

Aniefiok S. Itohowo*, Emmanuel P. Udofia, Ebong M. Sampson

This study assessed the boat building and repairs endowment of Akwa Ibom State in order to ascertain its potential for the development of the state in the context of the blue economy. A total of 29 coastal communities with a direct connection to the Atlantic Ocean were selected from the five local government areas of the state. Using the observation method, information was collected on some boatyard, types of boat/canoes produced, methods of production, sources of materials, and methods of repairs. Information was collected on some shipyard, types of boat/canoes produced, methods of production, sources of materials, and methods of repairs. Findings showed that there were only five local shipyards in the study area located at Esin Ufot, Ibaka Mbe Ndoro, Qua Iboe River Estuary, Emereoke communities. These were found to be grossly inadequate considering the potential of marine related activities in the study area. For the current economic evaluation of the marine transportation sector of the blue economy in the study area, the consumer Willingness-to-Pay (WTP) method in market price approach was employed using the consumer surplus. A high consumer surplus was reported for the boat building and repairs sector of the state’s blue economy, generally indicating that consumers are better off, as they are receiving high values from boat making and repairs relative to their cost. Following from that, it was recommended that boat building and repairs be given greater attention for its potential for job creation, revenue-generating, investment and industrial development with local and recreational amenity value increase.