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Nigeria’s Blue Economy set for major transformation – Oyetola
Nigeria’s maritime and blue economy sector is poised for significant transformation as the federal government advances policies and investments aimed at exploiting the country’s abundant marine resources.
The Honourable Minister of Marine and Blue Economy, Adegboyega Oyetola, made this announcement during an interactive session with print media editors in Lagos on Thursday.
During the session with the Nigerian Guild of Editors (NGE), Oyetola emphasized the government’s commitment to unlocking the full potential of Nigeria’s 853-kilometer coastline, its Exclusive Economic Zone (EEZ) of over 300,000 square kilometers, and its 10,000 kilometers of inland waterways. He highlighted the diverse economic opportunities within the sector, which include maritime shipping, port infrastructure, fisheries, aquaculture, renewable energy, and coastal tourism.
“The vision of President Bola Ahmed Tinubu in creating this ministry is to ensure that our marine resources are sustainably harnessed to position Nigeria as a premier maritime nation. This sector has the potential to be a key driver of national prosperity,” Oyetola stated.
The Minister revealed that the Federal Executive Council has recently approved the modernization of the Western Ports in Lagos, including the Apapa and Tin-Can Island ports, with a completion timeline of 48 months. Similar projects for the Eastern Ports are being expedited to establish Nigeria as a transshipment hub for West Africa.
“When completed, the depth of our ports will increase from 12-13 meters to 16-17 meters, allowing larger vessels to dock. This will prevent revenue losses to neighboring ports in Tema, Lome, and Cotonou,” Oyetola explained. He added that these projects, overseen by the Nigerian Ports Authority (NPA), are expected to create over 20,000 jobs.
In addition to modernizing seaports, the government is expanding inland dry ports to enhance cargo handling and facilitate trade. The recently commissioned Funtua Dry Port in Katsina State, along with projects in Kano and Kaduna, and upcoming developments in Abia, Plateau, and Borno, are expected to strengthen Nigeria’s logistics and export capabilities.
To improve efficiency at Nigerian ports, Oyetola disclosed that the government is implementing the National Single Window (NSW) and a Port Community System (PCS) to automate trade compliance and streamline operations. “His Excellency, Mr. President, has provided the political will and support for this project, which will significantly reduce cargo dwell time,” he said.
On fisheries and aquaculture, the Minister noted that Nigeria recently achieved 100% compliance in the Turtle Excluder Devices (TEDs) re-certification exercise, securing export rights for Nigerian shrimp and fish products to the U.S. and EU. “We are now focusing on developing state-of-the-art fish harbors through Public-Private Partnerships,” he added.
“Maritime security remains a priority. The Deep Blue Project and the Falcon Eye Surveillance System have helped Nigeria maintain a zero piracy record in the Gulf of Guinea over the last three years. “By deploying advanced security measures, Nigeria has solidified its role as a key guardian of maritime security in West Africa,” Oyetola emphasized.
According to the Minister, the Ministry has received commendations from the Presidential Enabling Business Environment Council (PEBEC) and has been ranked among the top-performing ministries by the Central Results Coordinating Delivery Unit (CRCDU). Nigeria has also secured an additional 16,300 square kilometers of continental shelf, expanding its marine economic territory.
Oyetola revealed that Nigeria has ratified six international maritime conventions and is preparing a bid for a seat on the International Maritime Organization (IMO) Council in 2025. “This is a testament to Nigeria’s growing influence in global maritime governance,” he noted.
The Minister called for collaboration with the media to raise awareness and support for Nigeria’s blue economy agenda. “Today’s session is not just about our achievements; it is about fostering dialogue. We welcome your insights to help shape policies that will transform this sector,” he told the editors.
With ambitious reforms, strategic partnerships, and a clear roadmap, Nigeria’s blue economy is on the brink of a new era of growth and sustainability
