The Minister of Marine and Blue Economy, Dr. Adegboyega Oyetola, says Nigeria’s maritime sector has undergone a far-reaching transformation in the three years since President Bola Ahmed Tinubu established the Federal Ministry of Marine and Blue Economy in August 2023.
Oyetola, according to a statement issued weekend by his Special Adviser Dr. Bolaji Akinola, said the Ministry had moved swiftly to unlock the economic potential of Nigeria’s 853-kilometre coastline and extensive inland waterways, positioning the marine and blue economy as a major driver of revenue, trade, security and job creation.
Presenting the Ministry’s three-year scorecard, the Minister said the reform programme had delivered measurable 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. According to the Minister, one of the clearest indicators of the progress recorded is the unprecedented growth in revenues generated by agencies under the Ministry.
The agencies generated ₦1.83 trillion in 2025, representing a 160 per cent increase over the ₦700.79 billion recorded in 2023. Oyetola attributed the growth to regulatory reforms, stronger revenue assurance, digitisation and the systematic closure of financial leakages.
He said the improvement in revenue performance was part of a broader effort to build a more transparent, efficient and investment-friendly maritime economy. A New Policy Framework for the Blue Economy A major milestone in the reform programme was the approval, in May 2025, of Nigeria’s first National Policy on Marine and Blue Economy.
Oyetola said the policy marked an important departure from the fragmented approach that had characterised the management of Nigeria’s maritime resources over the years by establishing a unified framework for shipping, fisheries, offshore energy, marine biotechnology and other emerging opportunities.
“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.