Marine, blue economy agencies generate ₦1.83tn in 2025 — Oyetola

Dr. Adegboyega Oyetola, the Minister of Marine and Blue Economy, announced that agencies under his ministry generated ₦1.83 trillion in 2025, marking a 160 per cent increase from the ₦700.79 billion recorded in 2023. During a presentation of the ministry's three-year scorecard, Oyetola credited the growth to regulatory reforms, enhanced revenue assurance, digitisation initiatives and measures aimed at eliminating financial leakages. The minister emphasized that these developments reflect a broader transformation within Nigeria’s maritime sector. The surge in revenue was accompanied by notable advancements in several key areas. Oyetola highlighted improvements in port infrastructure, maritime security, regulation, indigenous shipping, human capital development, fisheries and inland-waterway safety. He noted that the ministry had focused on unlocking the economic potential of Nigeria’s 853-kilometre coastline and its extensive inland waterways, positioning the marine and blue economy as vital contributors to revenue, trade, security and employment opportunities. “Our goal is to convert Nigeria’s abundant marine resources into sustainable economic value for its citizens,” he stated. Oyetola underscored the significance of the approval of Nigeria’s first National Policy on Marine and Blue Economy in May 2025. This policy marked a pivotal step in the reform program, replacing a fragmented approach to managing maritime resources with a unified framework encompassing shipping, fisheries, offshore energy, marine biotechnology and other emerging sectors. The minister explained that the policy offers a clear roadmap for government actions and ensures transparency and predictability for private-sector investments across the marine and blue economy value chain. Port modernisation remained a cornerstone of the ministry’s transformation strategy. Oyetola detailed ongoing upgrades at major ports such as Apapa, Tin Can Island, Onne, Rivers, Calabar and Warri. These upgrades include channel improvements, modern cargo-handling infrastructure and digital enhancements to terminal operations, all aimed at boosting efficiency and enabling Nigerian ports to manage higher volumes of international trade. The World Bank and S&P Global Market Intelligence ranked Tin Can Island Port 10th and Lagos Port Complex, Apapa, 12th among the world’s 20 most improved container ports between 2020 and 2025. To address congestion around Apapa, the government implemented the electronic truck call-up system, constructed dedicated holding bays and expanded inland barging. The Nigerian Ports Authority has acquired modern tugboats, pilot cutters and dredging equipment, significantly enhancing port operations. “We have transitioned from merely managing congestion to developing a port system capable of competing globally,” Oyetola remarked. The government is also advancing plans for deep-seaport projects in Akwa Ibom, Cross River, Bayelsa, Ondo, Lagos and Rivers states. Additionally, the operationalisation of inland dry ports, such as the Funtua Inland Dry Port in Katsina State, aims to bring cargo-handling and clearance services closer to businesses in the hinterland, thereby reducing pressure on coastal ports. Regulatory reforms have also yielded positive outcomes for the maritime sector. Oyetola mentioned that the new Nigeria Ports Economic Regulatory Authority (NPERA) framework will enhance economic regulation of the port sector. Interventions by the ministry and its agencies have saved port users over ₦86 billion in unjustified demurrage. Nearly 300 commercial disputes have been resolved through alternative dispute resolution mechanisms.