₦1.83trn Revenue, Port Reforms, Security Gains — Oyetola Unveils Blue Economy Scorecard

 

By Abdullahi Musa 

The Minister of Marine and Blue Economy, Dr Adegboyega Oyetola, has said Nigeria’s maritime sector has undergone significant transformation since President Bola Ahmed Tinubu established the Federal Ministry of Marine and Blue Economy in August 2023.

Oyetola, according to a statement issued by his Special Adviser, Dr Bolaji Akinola, said the ministry had taken steps to harness the economic potential of Nigeria’s 853-kilometre coastline and extensive inland waterways.

Presenting the ministry’s three-year scorecard, Oyetola highlighted developments in revenue generation, port infrastructure, maritime security, regulation, indigenous shipping, human-capital development, fisheries and inland-waterway safety.

He said agencies under the ministry generated ₦1.83 trillion in 2025, representing a 160 per cent increase from the ₦700.79 billion recorded in 2023.

The minister attributed the revenue growth to regulatory reforms, digitisation, stronger revenue-assurance mechanisms and efforts to eliminate financial leakages.

New 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.

According to him, the policy provides a unified framework for developing sectors including shipping, fisheries, offshore energy, marine biotechnology and other emerging areas of the blue economy.

He said the framework would provide greater certainty for investors while ensuring that Nigeria’s marine resources were developed sustainably.

Port Modernisation

The minister said port modernisation remained central to the Federal Government’s maritime reform agenda.

He listed Apapa, Tin Can Island, Onne, Rivers, Calabar and Warri among the major ports undergoing various improvement initiatives, including channel upgrades, modern cargo-handling facilities and increased digitisation.

Oyetola also cited international recognition of the progress made, noting that 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 said measures such as electronic truck call-up systems, holding bays and expanded inland barging had helped address congestion around the Apapa port environment.

The minister added that the Nigerian Ports Authority had acquired modern tugboats, pilot cutters and dredging equipment to strengthen port operations.

He further disclosed that the government was pursuing port expansion projects in Akwa Ibom, Cross River, Bayelsa, Ondo, Lagos and Rivers states.

₦86bn Demurrage Savings

Oyetola said regulatory reforms had also produced benefits for maritime businesses.

He disclosed that interventions by the ministry and its agencies had saved port users more than ₦86 billion in what he described as unjustified demurrage.

He added that nearly 300 commercial disputes had been resolved through Alternative Dispute Resolution.

The minister said measures had also been introduced to tackle unauthorised shipping charges, strengthen freight and foreign-exchange verification and reduce financial leakages.

Nigeria Records Four Years Without Piracy

On maritime security, Oyetola said Nigeria had maintained zero piracy in its territorial waters for four consecutive years.

He attributed the development to maritime security assets deployed under the Deep Blue Project.

According to him, the improved security environment had helped eliminate piracy-related surcharges imposed on vessels calling at Nigerian ports.

He also noted that Nigeria regained its seat on the International Maritime Organization’s Category C Council in November 2025 after a 14-year absence.

Oyetola further disclosed that Nigeria secured the lifting of the 12-year United States Coast Guard Condition of Entry restrictions affecting vessels arriving from Nigerian ports.

Push for Indigenous Shipping

The minister said the government was also working to increase 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.

He added that the long-awaited disbursement process for the Cabotage Vessel Financing Fund had commenced to support Nigerian shipowners in acquiring modern vessels.

Oyetola said human-capital development was another priority, with increased opportunities for seafarer training and sea-time placements.

He claimed that the interventions had contributed to an increase of more than 80 per cent in average seafarer earnings.

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 interventions on inland waterways included the distribution of thousands of life jackets and plans to replace unsafe wooden boats with modern fibreglass vessels.

According to him, Nigeria’s fish production reached 1.4 million metric tonnes in 2025.

He also disclosed that the country achieved full compliance with Turtle Excluder Device requirements among inspected commercial shrimp trawlers, which he said would help protect marine biodiversity and Nigeria’s access to international markets.

Digital Reforms

Oyetola said the ministry had also digitised its internal operations through an Enterprise Content Management System as part of efforts to improve efficiency, transparency and accountability.

He further said the ministry helped resolve a 16-year impasse that paved the way for the operationalisation of the Regional Maritime Development Bank in Nigeria.

The development, according to him, would improve access to financing for businesses and projects across the maritime value chain.

‘Blue Economy Becoming Engine of Prosperity’

Oyetola said the achievements recorded over the past three years represented the foundation for a broader transformation of Nigeria’s maritime economy.

He said the government’s objective was to create an ecosystem where efficient ports facilitate trade, stronger maritime security attracts shipping, Nigerian businesses capture a larger share of the maritime value chain 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,” Oyetola said.

The minister maintained that the combination of increased revenue, a national blue economy policy, port modernisation, improved maritime security, regulatory reforms, human-capital development and renewed international engagement had placed Nigeria’s marine and blue economy on a stronger growth trajectory.