LAGOS, Nigeria, {VOICE OF NAIJA) – The Minister of Marine and Blue Economy, Dr Adegboyega Oyetola, says Nigeria’s maritime sector has undergone a far-reaching transformation in three years.
Oyetola made this known in a statement in Lagos through his Special Adviser, Dr Bolaji Akinola.
He said the ministry moved quickly to unlock the economic potential of Nigeria’s 853-kilometre coastline and inland waterways to drive revenue, trade, security and job creation.
Presenting the ministry’s three-year scorecard, Oyetola said reforms had delivered measurable gains in revenue generation, port infrastructure, maritime security, regulation and indigenous shipping.
He said gains were also recorded in human capital development, fisheries and inland waterway safety.
“At the heart of our mandate is a simple objective: to turn Nigeria’s vast marine resources into sustainable economic value for Nigerians,” Oyetola said.
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He said one clear indicator of progress was unprecedented revenue growth by agencies under the ministry, reflecting stronger oversight, transparency and alignment with national economic priorities.
Oyetola said agencies generated N1.83 trillion in 2025, representing a 160 per cent increase over the N700.79 billion recorded in 2023.
He attributed the growth to digitisation, closure of financial leakages, regulatory reforms, stronger revenue assurance and systematic automation.
The minister said the government was building a more transparent and investment-friendly maritime economy for local and foreign investors.
Oyetola said a major milestone was the May 2025 approval of Nigeria’s first National Policy on Marine and Blue Economy.
He said the policy replaced the fragmented approach with a unified framework for shipping and fisheries.
According to him, the policy provides a clear roadmap and predictability for investors, while ensuring sustainable development across the blue economy value chain.
He said opportunities included offshore energy, marine biotechnology and other emerging areas.
Oyetola said port modernisation remained central to the agenda, with upgrades ongoing at Apapa, Tin Can Island, Onne, Rivers, Calabar and Warri.
He said the upgrades covered channel improvements and modern cargo-handling infrastructure.
“The World Bank and Standard and Poor Global ranked Tin Can Island Port 10th and Lagos Port Complex Apapa 12th among the world’s 20 most improved container ports,” he said.
He said the government also tackled Apapa congestion through an electronic truck call-up system, dedicated holding bays and expanded inland barging.
Oyetola said the Nigerian Ports Authority (NPA) acquired tugboats, pilot cutters and dredging equipment to improve port operations.
“We have moved from managing congestion to building a port system that can compete globally,” he said.
He said the government was also planning deep seaports in Akwa Ibom, Cross River and other locations.
The minister added that operationalising inland dry ports, including Funtua in Katsina, would bring cargo clearance closer to the hinterland.
He said the initiative would reduce pressure on coastal gateways while cutting logistics costs.
Oyetola said regulatory reforms were yielding results, adding that the new Nigeria Ports Economic Regulatory Authority (NPERA) framework would strengthen oversight.
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He said interventions had saved port users more than N86 billion in unjustified demurrage charges.
Oyetola said nearly 300 commercial disputes were resolved through Alternative Dispute Resolution.
He added that the ministry eliminated unauthorised shipping charges and strengthened freight and foreign exchange verification to curb capital flight.
On security, he said Nigeria had recorded zero piracy in territorial waters for four consecutive years.
According to him, the achievement was supported by assets deployed under the Deep Blue Project, removing costly piracy surcharges on vessels.
He said that in November 2025, Nigeria regained its seat on the IMO Category C Council after 14 years.
Oyetola added that NIMASA also secured the lifting of the 12-year US Coast Guard Condition of Entry.
He said plans to revive a national shipping carrier through a public-private partnership (PPP) had advanced, while disbursement of the Cabotage Vessel Financing Fund had commenced.
According to him, the fund would help Nigerians acquire modern vessels.
Oyetola said human capital development had expanded through more seafarer training and sea-time placements.
He said the initiatives raised average earnings by more than 80 per cent, adding that NPERA facilitated a N200,000 monthly minimum wage for workers.
“Beyond ports, the ministry supported Naira-for-Crude logistics, distributed thousands of lifejackets and plans fibreglass boat replacement,” he said.
He said fish output reached 1.4 million metric tonnes in 2025, with 100 per cent TED compliance.
Oyetola said institutional reforms included ECMS digitisation and resolving a 16-year impasse to operationalise the Regional Maritime Development Bank.
He said the development would improve access to maritime financing, adding that the foundation had been laid for sustained growth.
(NAN)