The Federal Government says Nigeria’s maritime industry has recorded major improvements since the creation of the Ministry of Marine and Blue Economy three years ago.
Minister of Marine and Blue Economy, Adegboyega Oyetola, made the claim while presenting the ministry’s three-year performance scorecard.
According to Oyetola, the sector has experienced notable progress in revenue generation, port development, maritime security, regulation and indigenous participation in shipping.
He disclosed that agencies operating under the ministry generated ₦1.83 trillion in 2025, a significant increase from the ₦700.79 billion recorded in 2023.
The minister attributed the revenue growth to a combination of regulatory reforms, improved revenue monitoring, digitisation and measures designed to reduce financial leakages.
Oyetola said the government’s vision goes beyond increasing revenue from existing maritime activities. He explained that the administration is seeking to develop Nigeria’s wider marine resources into a major contributor to economic growth.
Nigeria has an estimated 853-kilometre coastline, in addition to a network of inland waterways that could support shipping, fishing, tourism, logistics and other commercial activities.
The minister said the Federal Government is therefore working to create an environment capable of attracting investment and generating employment throughout the maritime value chain.
Another key development highlighted by Oyetola was the approval of Nigeria’s first National Policy on Marine and Blue Economy in May 2025.
The policy provides a coordinated framework for various areas of the sector, including shipping, fisheries, offshore energy, marine biotechnology and other emerging blue-economy activities.
Oyetola also highlighted progress in port infrastructure, maritime safety, security, human-capital development and inland-waterway operations.
He said the achievements recorded since the ministry was established in August 2023 should be viewed as the beginning of a much larger transformation.
According to the minister, Nigeria has the natural resources and geographical advantage to generate significantly more economic value from its marine environment.
He stressed that sustained investment, effective regulation and appropriate infrastructure would be necessary to fully unlock the potential of the sector.
The Federal Government is positioning the blue economy as an important pillar of its wider economic diversification strategy, with expectations that increased maritime activity will contribute to government revenue, trade, investment and job creation.
