Deep-Sea Accounting and Economic Growth in Nigeria: A Theoretical Perspective

Abstract

As economies become increasingly complex, conventional accounting systems are no longer sufficient to capture the full range of resources that contribute to national wealth. Deep Sea Accounting is an emerging concept that broadens accounting practice by incorporating marine resources, environmental assets, blue economy activities, and sustainability considerations into financial and economic reporting. This theoretical paper explores the potential contribution of Deep-Sea Accounting to Nigeria's economic growth. Guided by the Resource-Based View Theory and Sustainable Development Theory, the paper argues that systematic recognition, valuation, and reporting of marine resources can strengthen resource governance, improve transparency, increase public revenue, and promote sustainable economic development. The study concludes that integrating Deep Sea Accounting into Nigeria's accounting and economic management systems would support better policy decisions and enhance long-term national development. It recommends the incorporation of marine resource accounting into the country's national accounting framework.

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