Agencies under Nigeria’s Ministry of Marine and Blue Economy generated ₦1.83 trillion in 2025, representing a 160 per cent increase from the ₦700.79 billion recorded in 2023, the Minister of Marine and Blue Economy, Dr Adegboyega Oyetola, has disclosed.
Oyetola attributed the increase to regulatory reforms, stronger revenue assurance, digitisation and efforts to eliminate financial leakages across the maritime sector.
The minister made the disclosure while presenting the ministry’s three-year scorecard, highlighting developments in revenue generation, port infrastructure, maritime security, shipping, fisheries, human capital development and inland-waterway safety.
He said the ministry was working to unlock the economic potential of Nigeria’s 853-kilometre coastline and extensive inland waterways, with the marine and blue economy positioned as sources of revenue, trade, employment and investment.
“At the heart of our mandate is a simple but powerful objective: to turn Nigeria’s vast marine resources into sustainable economic value for Nigerians.”
New Marine and Blue Economy Policy
Oyetola identified the approval of Nigeria’s first National Policy on Marine and Blue Economy in May 2025 as one of the major achievements of the administration’s reform programme.
According to him, the policy replaced the previously fragmented approach to managing Nigeria’s marine resources with a unified framework covering shipping, fisheries, offshore energy, marine biotechnology and other emerging sectors.
He said the framework would provide a clearer roadmap for government interventions while giving private investors greater certainty and transparency.
Port Modernisation
The minister said port modernisation remained a major part of the government’s agenda, with comprehensive upgrades being undertaken at Apapa, Tin Can Island, Onne, Rivers, Calabar and Warri ports.
The upgrades include channel improvements, modern cargo-handling infrastructure and increased digitisation of terminal operations, with the aim of improving efficiency and allowing Nigerian ports to handle larger volumes of international trade.
Oyetola said 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.
He added that congestion around Apapa had also been tackled through the electronic truck call-up system, dedicated holding bays and expanded inland barging.
The acquisition of modern tugboats, pilot cutters and dredging equipment by the Nigerian Ports Authority, according to the minister, had further strengthened port operations.
The government is also pursuing additional port capacity through deep-seaport projects in Akwa Ibom, Cross River, Bayelsa, Ondo, Lagos and Rivers states.
Oyetola said the operationalisation of inland dry ports, including the Funtua Inland Dry Port in Katsina State, would bring cargo-handling and clearance services closer to businesses in the hinterland and reduce pressure on coastal ports.
Regulatory Reforms and Maritime Security
Oyetola said regulatory reforms had improved the operating environment for businesses in the maritime sector.
He said the new Nigeria Ports Economic Regulatory Authority (NPERA) framework would strengthen economic regulation, while interventions by the ministry and its agencies had saved port users more than ₦86 billion in unjustified demurrage.
Nearly 300 commercial disputes have also been resolved through alternative dispute resolution, he said.
The minister added that measures had been introduced to eliminate unauthorised shipping charges and strengthen freight and foreign-exchange verification to reduce leakages and curb capital flight.
On maritime security, Oyetola said Nigeria had recorded zero piracy in its territorial waters for four consecutive years, supported by security assets deployed under the Deep Blue Project.
He said the achievement had helped eliminate piracy-related surcharges on vessels calling at Nigerian ports and improved Nigeria’s reputation as a safer maritime corridor.
Nigeria also regained its seat on the International Maritime Organization’s Category C Council in November 2025, after a 14-year absence.
The minister further disclosed that the Nigerian Maritime Administration and Safety Agency (NIMASA) secured the lifting of the 12-year United States Coast Guard Condition of Entry restrictions affecting vessels arriving from Nigerian ports.
Indigenous Shipping and Jobs
Oyetola said the government was also focused on increasing Nigerian participation in the maritime industry.
He disclosed that plans were at an advanced stage to revive a national shipping carrier through a public-private partnership, while the process for disbursing the Cabotage Vessel Financing Fund (CVFF) had commenced to support Nigerian shipowners in acquiring modern vessels.
The minister said developing a genuine blue economy required Nigerians to play a greater role in the maritime value chain.
He also said seafarer training and sea-time placements had expanded opportunities for Nigerians seeking careers in the industry.
According to Oyetola, the interventions contributed to an over 80 per cent increase in average seafarer earnings.
He added that the ministry, through the Nigeria Port Economic Regulatory Agency, facilitated a ₦200,000 monthly minimum wage for maritime and shipping workers.
Fisheries, Inland Waterways and Environment
The minister said the ministry’s activities extended beyond ports and shipping to fisheries, inland waterways, marine safety and environmental protection.
He said the ministry supported the Federal Government’s Naira-for-Crude policy by streamlining marine logistics for domestic refineries.
On inland waterways, safety measures included the distribution of thousands of life jackets and plans to replace unsafe wooden boats with modern fibreglass vessels.
Nigeria’s fisheries sector also recorded growth, with fish production reaching 1.4 million metric tonnes in 2025, according to the minister.
He added that Nigeria achieved 100 per cent compliance with Turtle Excluder Device requirements among inspected commercial shrimp trawlers, helping protect marine biodiversity and preserve access to international markets.
Institutional Reforms
Oyetola said institutional reforms had also formed an important part of the ministry’s three-year programme.
The ministry has digitised its internal operations through an Enterprise Content Management System (ECMS) to improve efficiency, transparency and accountability.
The minister also disclosed that the ministry helped resolve a 16-year impasse that paved the way for the operationalisation of the Regional Maritime Development Bank (RMDB) in Nigeria.
He said the development would improve access to financing for projects and businesses across the maritime value chain.
Oyetola maintained that the achievements recorded over the past three years represented a foundation for a much larger economic opportunity.
He said the government’s broader objective was to create a maritime ecosystem where efficient ports support trade, stronger security attracts shipping, Nigerian businesses capture more value from the industry and coastal and inland communities benefit from new economic opportunities.
“The blue economy is no longer an untapped frontier. It is becoming a major engine of national prosperity, regional competitiveness and sustainable growth.”
