Oyetola Reassures Commitment To Marine Resource Devt

Lagos – The Minister of Marine and Blue Economy, Adegboyega Oyetola, has reiterated the Federal Government’s commitment to harnessing Nigeria’s vast marine resources for economic growth and national development.

Speaking on Thursday at an interactive session with the Guild of Editors in Lagos, Oyetola highlighted key initiatives and reforms aimed at transforming the sector.

In his address, the minister underscored Nigeria’s extensive maritime endowments, including an 853-kilometer coastline and an Exclusive Economic Zone (EEZ) spanning over 300,000 square kilometers and noted that the blue economy, which comprises shipping, shipbuilding, aquaculture, coastal tourism, and marine biotechnology, holds immense potential for contributing to the nation’s GDP.

“A recognition of the depth of our endowments is the basis for the vision of President Bola Tinubu, in creating a dedicated Ministry for the Marine and Blue Economy. This strategic initiative reflects his determination to unlock the vast potential of our marine resources and establish this sector as a key driver of national prosperity,” Oyetola stated.

Oyetola emphasized that the ministry has taken deliberate steps to strengthen regulatory, legal, and institutional frameworks to drive the sector’s growth.

He announced the completion of Nigeria’s National Blue Economy Strategy Plan in collaboration with international bodies such as the World Bank, AU-IBAR, and WorldFish, as well as the finalization of the Fisheries and Aquaculture Policy.

“Our National Policy for Marine and Blue Economy has been crafted with a strategic 10-year roadmap to guide implementation. The policy takes into account the need to leverage technology and private sector initiatives to boost the sector,” he added.

A major highlight of the session was the minister’s announcement of the Federal Executive Council’s approval for the modernization of Western Ports (Lagos Port Complex, Apapa, and Tin-Can Island Port Complex).

Oyetola explained that the project, which is expected to be completed within 48 months, will deepen the ports’ draft to 16-17 meters, enabling the accommodation of larger vessels and reversing revenue losses to neighboring ports.

“We are committed to ensuring that our port system collectively becomes the transshipment hub for the subregion. The modernization efforts will generate over 20,000 jobs and enhance Nigeria’s maritime trade capabilities,” Oyetola stated.

He further highlighted the ministry’s push for Public-Private Partnerships (PPP) to attract investment in port infrastructure, channel dredging, inland waterways development, and terminal operations noting that additionally, inland dry ports are being developed across various states, including the recently commissioned Funtua Dry Port in Katsina, with similar projects in Kano, Kaduna, Abia, Plateau, and Borno at various stages.

The minister outlined efforts to boost the fisheries and aquaculture sub-sector, citing the ministry’s collaboration with the U.S. Department of State, which resulted in Nigeria’s 100% compliance during the 2024 Turtle Excluder Devices (TEDs) re-certification exercise. This achievement ensures continued access to export markets in the U.S., EU, and other regions.

“We are promoting sustainable fisheries and aquaculture development, with a focus on reducing fish importation to the barest minimum. The ministry is working closely with the private sector to establish state-of-the-art fish harbors and terminals in strategic coastal areas,” he disclosed.

Oyetola also highlighted Nigeria’s zero-piracy record in the Gulf of Guinea over the past three years, attributing this success to the implementation of the Deep Blue Sea Project and advanced surveillance systems.

“Nigeria remains committed to safeguarding vital shipping lanes and has deployed cutting-edge security assets to maintain stability in our maritime domain,” he affirmed.

The minister revealed plans for the operationalization of the National Fleet Implementation Committee to establish a private-sector-led national flag carrier.

He also announced that Nigeria would contest for a seat in the International Maritime Organization (IMO) Council (Category C) during the 34th IMO Assembly in London in late 2025.

“The ministry and its agencies are working tirelessly to transform Nigeria into a leading maritime nation. Our initiatives are geared towards improving efficiency, increasing revenue generation, and creating employment opportunities for Nigerians,” Oyetola assured.

The interactive session concluded with the minister calling for increased collaboration with media stakeholders to drive awareness and foster public-private partnerships in the marine and blue economy sector.

“This session is not just about presenting achievements; it is about fostering dialogue. We value the perspectives of the media and encourage recommendations that will help shape our policies and programs,” he said.

The event was attended by senior officials from the ministry, heads of maritime agencies, and key industry stakeholders, who expressed optimism about the sector’s future under the current administration.