Economic value of products in the GCLME: Chukwuonea et al., 2009

Location: GCLME, West Africa

The Guinea Current Large Marine Ecosystem (GCLME) is polluted, degraded, and has declining fish stocks, but most countries in the GCLME rely on its natural resources. Local marine fishery, offshore oil production, periwinkle* harvesting and mining have an estimated value of US$49,941.4 million, of which offshore oil production accounts for 59.79%.

*Periwinkle – Catharanthus roseus G. Don (used to make the chemotherapy drug Vinblastine Sulfate)

Chukwuonea NA, Ukwec CN, Onugud A, Ibee CA, 2009. “Valuing the Guinea current large marine ecosystem: Estimates of direct output impact of relevant marine activities” Ocean & Coastal Management, 52:(3-4) 189-196, doi:10.1016/j.ocecoaman.2008.12.008

Centre for Entrepreneurship and Development Research, University of Nigeria
Department of Agricultural Economics, University of Nigeria
United Nations Industrial Development Organization (UNIDO), Vienna
Bioresources Development and Conservation programme (BDCP), Nigeria
Interim Guinea Current Commission, Ghana