Minister of Marine and Blue Economy, Adegboyega Oyetola, has declared the maritime sector a top priority for Nigeria’s economic diversification and long-term development, stressing that it holds the potential to generate significant revenue, create millions of jobs, and boost the country’s global competitiveness. Speaking during a recent engagement with industry stakeholders, Oyetola emphasized that the government is committed to unlocking opportunities in shipping, port development, inland waterways, and associated services, as part of efforts to strengthen non-oil revenue streams.
The minister noted that Nigeria’s strategic geographic location, with its extensive coastline and proximity to key international trade routes, makes it a natural hub for maritime activities. However, he lamented that despite this advantage, the sector has historically underperformed due to infrastructural decay, policy inconsistencies, and inadequate investment. According to him, the administration of President Bola Tinubu is determined to change the narrative by repositioning the maritime industry as one of the pillars of Nigeria’s economic transformation agenda.
Oyetola highlighted the enormous contribution the sector could make if properly harnessed, pointing out that Nigeria has the capacity to become a leading maritime hub in Africa. He explained that beyond crude oil exports, the shipping and logistics subsector can drive industrial growth, enhance intra-African trade, and strengthen Nigeria’s role in the African Continental Free Trade Area (AfCFTA). To achieve this, he said, there is a need for deliberate policies that will attract private investment and foster public-private partnerships to modernize infrastructure across ports and waterways.
He also disclosed that government reforms are already underway to reduce bottlenecks at the ports and curb inefficiencies that have discouraged both local and international investors. Among these reforms are efforts to digitalize port operations, expand inland dry ports, and enhance security across maritime corridors. Oyetola added that discussions are ongoing with global partners to provide financing and technical expertise for large-scale projects that will expand Nigeria’s port handling capacity and improve trade facilitation.
Industry players at the meeting welcomed the government’s renewed attention to the sector, describing it as timely given the current challenges in diversifying the economy. They noted that while oil revenues remain significant, the volatility of global crude prices has made it imperative for Nigeria to tap into alternative sources of foreign exchange earnings. Many stakeholders stressed that maritime trade, if fully optimized, could surpass oil in terms of job creation and revenue generation over the next decade.
The minister also underscored the importance of building local capacity through training and skills development for Nigerian seafarers, dockworkers, and maritime professionals. He revealed that the government is collaborating with international bodies to enhance training standards and certification processes, thereby equipping Nigerians to compete globally in shipping and logistics. He further urged private investors to support educational initiatives that can strengthen the pipeline of talent needed to sustain the sector.
Security on Nigerian waterways was another major concern Oyetola addressed. He acknowledged that piracy, smuggling, and illegal fishing have undermined confidence in the sector for years, discouraging international shipping lines and investors. He assured stakeholders that the government is ramping up surveillance efforts and strengthening collaboration with the Nigerian Navy and other security agencies to ensure safer waterways. These measures, he said, will reduce risks, cut costs, and improve Nigeria’s ranking in global maritime safety indexes.
Economists have described Oyetola’s renewed focus on the maritime sector as a pragmatic approach to supporting the federal government’s broader economic agenda. With Nigeria seeking to grow its economy to $1 trillion in the coming years, non-oil revenue sources such as maritime trade, shipping, and port services are expected to play a critical role. Experts argue that efficient maritime operations could significantly reduce the cost of doing business in Nigeria, improve logistics, and enhance the country’s appeal as a destination for foreign direct investment.
Beyond trade and logistics, the minister stressed the importance of developing Nigeria’s blue economy — which encompasses marine resources such as fisheries, aquaculture, coastal tourism, renewable energy, and seabed mining. He said the ministry is working on a comprehensive framework to ensure that these resources are sustainably harnessed to boost food security, job creation, and foreign exchange earnings while protecting the marine environment.
Stakeholders urged the government to ensure consistency in policy implementation, warning that past administrations made similar promises without following through. They called for an inclusive approach where industry experts, investors, and coastal communities are actively involved in shaping reforms. According to them, only through collaboration can Nigeria unlock the full potential of its maritime and blue economy sectors.
Oyetola concluded by reaffirming the government’s political will to transform the maritime sector into a cornerstone of national development. He noted that with the right investments, strong regulation, and effective security architecture, Nigeria could become West Africa’s leading maritime hub, attracting shipping lines, logistics firms, and international investors.
Observers believe that if the minister’s vision materializes, the benefits will extend far beyond the maritime industry. A revitalized sector will strengthen Nigeria’s balance of payments, reduce dependence on oil, and enhance regional trade integration under AfCFTA. For millions of Nigerians, it could also mean better employment opportunities and more inclusive economic growth.
The renewed focus on the maritime industry signals a broader shift in Nigeria’s economic priorities. As oil revenues decline and global markets evolve, the country’s ability to embrace sectors like maritime and blue economy will determine how fast it achieves sustainable growth. For Oyetola, the message is clear: Nigeria’s future prosperity is tied to unlocking the immense potential of its maritime assets.
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