The Minister of Marine and Blue Economy, Dr Adegboyega Oyetola, has said Nigeria’s maritime sector is undergoing far-reaching transformation, with agencies under the ministry generating a record ₦1.83 trillion in revenue in 2025.

Oyetola disclosed this while presenting the ministry’s three-year scorecard, outlining the reforms and interventions implemented since President Bola Ahmed Tinubu established the Federal Ministry of Marine and Blue Economy in August 2023.

The ₦1.83 trillion revenue represents a 160 per cent increase over the ₦700.79 billion generated by the agencies in 2023. Oyetola attributed the growth to regulatory reforms, stronger revenue assurance, digitisation and measures to close financial leakages.

According to the minister, the reforms have produced gains across revenue generation, port infrastructure, maritime security, regulation, indigenous shipping, human-capital development, fisheries and inland-waterway safety.

“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,” Oyetola said.

He said the government was leveraging Nigeria’s 853-kilometre coastline and extensive inland waterways to position the marine and blue economy as a major driver of revenue, trade, investment, security and job creation.

Oyetola identified the approval of Nigeria’s first National Policy on Marine and Blue Economy in May 2025 as one of the major milestones of the administration’s reform programme.

He said the policy established a unified framework for shipping, fisheries, offshore energy, marine biotechnology and other emerging opportunities, replacing the fragmented approach that had previously characterised the management of Nigeria’s maritime resources.

“This policy gives us a clear roadmap. It provides the predictability and transparency investors need while ensuring that our marine resources are developed sustainably,” he said.
The minister said the policy would guide government intervention while providing greater certainty for private-sector investment across the blue economy value chain.

Oyetola said port modernisation remained at the centre of the ministry’s transformation agenda, with upgrades being undertaken at Apapa, Tin Can Island, Onne, Rivers, Calabar and Warri ports.

The programme includes channel improvements, modern cargo-handling infrastructure and increased digitisation of terminal operations aimed at improving efficiency and enabling Nigerian ports to handle greater volumes of international trade.

He said the reforms had attracted international recognition, with the World Bank and S&P Global Market Intelligence ranking Tin Can Island Port 10th and Lagos Port Complex, Apapa, 12th among the world’s 20 most improved container ports between 2020 and 2025.

According to him, the government had also made progress in tackling congestion around the Apapa port environment 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, he added, had further strengthened port operations.

“We have moved from managing congestion to building a port system that can compete globally,” Oyetola said.
He said the government was also pursuing additional deep-seaport projects in Akwa Ibom, Cross River, Bayelsa, Ondo, Lagos and Rivers states.

The minister also cited the operationalisation of inland dry ports, including the Funtua Inland Dry Port in Katsina State, as part of efforts to bring cargo-handling and clearance services closer to businesses in the hinterland and reduce pressure on coastal gateways.

The minister said regulatory reforms had produced tangible benefits for businesses operating in the maritime sector.

He said the new Nigeria Ports Economic Regulatory Authority framework would strengthen economic regulation of the port sector, while interventions by the ministry and its agencies had saved port users more than ₦86 billion in unjustified demurrage.

Nearly 300 commercial disputes, he added, had also been resolved through Alternative Dispute Resolution.
Oyetola said the ministry had introduced measures to eliminate unauthorised shipping charges and strengthen freight and foreign-exchange verification in an effort to reduce leakages and curb capital flight.

He said the objective was to create a maritime business environment where legitimate operators could compete on a level playing field while Nigerian businesses were protected from avoidable costs.

Oyetola said improvements in port efficiency had been accompanied by significant gains in maritime security.
According to him, Nigeria has maintained zero piracy in its territorial waters for four consecutive years, supported by maritime 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 strengthened Nigeria’s reputation as a safer maritime corridor.

The minister also highlighted Nigeria’s return to the International Maritime Organization’s Category C Council in November 2025 after a 14-year absence.

Through the Nigerian Maritime Administration and Safety Agency, Nigeria also secured the lifting of the 12-year United States Coast Guard Condition of Entry restrictions affecting vessels arriving from Nigerian ports.

“These achievements demonstrate that Nigeria is not only reforming its maritime sector at home; we are reclaiming our rightful voice and influence internationally,” he said.
Oyetola said the government was determined to ensure that Nigerian businesses captured a greater share of the country’s maritime value chain.

He disclosed that plans were at an advanced stage to revive a national shipping carrier through a public-private partnership, while the long-awaited process for disbursing the Cabotage Vessel Financing Fund had commenced.

The fund, he said, would enable Nigerian shipowners to acquire modern vessels and strengthen indigenous capacity adding that seafarer training and sea-time placements had expanded opportunities for Nigerians seeking careers in the maritime industry, contributing to an increase of more than 80 per cent in average seafarer earnings.

Oyetola also said the ministry had facilitated a ₦200,000 monthly minimum wage for maritime and shipping workers noting the ministry’s transformation agenda extended beyond ports to fisheries, inland waterways, marine safety and environmental sustainability.

He said the ministry supported the Federal Government’s Naira-for-Crude policy by streamlining marine logistics for domestic refineries.

On inland waterways, he said safety interventions included the distribution of thousands of lifejackets and plans to replace unsafe wooden boats with modern fibreglass vessels.

The fisheries sector, according to Oyetola, recorded fish production of 1.4 million metric tonnes in 2025.

He also said Nigeria achieved 100 per cent compliance with Turtle Excluder Device requirements among inspected commercial shrimp trawlers, helping to protect marine biodiversity and maintain access to international markets.

The minister said the measures reflected the government’s belief that economic development and environmental sustainability should reinforce each other.

Oyetola said institutional reforms had also been prioritised, with the ministry digitising its internal operations through an Enterprise Content Management System to improve efficiency, transparency and accountability.

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

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

Oyetola said the achievements of the past three years represented the foundation for a much larger economic opportunity.

He said the ultimate objective was to build a maritime ecosystem where efficient ports support trade, stronger security attracts shipping, Nigerian businesses capture more value, coastal and inland communities benefit from new economic opportunities, and marine resources are developed sustainably.