The Minister of Marine and Blue Economy, Adegboyega Oyetola, has outlined Nigeria’s multi-pronged strategy to modernise port infrastructure, enforce sustainable fishing practices, and enhance maritime safety and security.
In a keynote address at the 2025 World Maritime Day celebration held at Eko Hotel and Suites, Victoria Island, Lagos, the minister commended the dedication of agencies under the ministry and their alignment with President Bola Tinubu’s Renewed Hope Agenda.
Oyetola spotlighted the blue economy as a frontier for innovation, citing opportunities in renewable ocean energy, marine biotechnology and aquaculture.
Also, he reaffirmed Nigeria’s commitment to reducing reliance on oil and gas through bold reforms and international collaboration.
The event’s theme: “Our Ocean, Our Obligation, Our Opportunity,” echoed the International Maritime Organisation (IMO)’s global appeal to protect marine ecosystems while unlocking sustainable economic growth.
According to him, ocean produces up to 80 per cent of the earth’s oxygen, supports billions of livelihoods, and carries over 80 per cent of global trade, noting that it faces unprecedented threats from pollution and overfishing to climate change.
In a diplomatic appeal, the minister invited global partners to deepen cooperation in maritime governance.
He said: “Diplomacy is the strongest anchor of the maritime sector. We look forward to working with the international community to advance both Nigeria’s interests and the collective good.”
Also, Oyetola announced Nigeria’s bid to rejoin Category C of the IMO Council, citing the country’s longstanding contributions to global maritime policy and expressing optimism about re-election.
The celebration concluded with a renewed national commitment to safeguard the ocean and harness its promise for future generations.
He said: “Our ocean is our shared legacy. Our obligation is to protect it. Our opportunity is to transform it.”
Also speaking, the Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Dayo Mobereola, lamented that the global blue economy is currently being impaired by a $150bn funding gap.
In the words of the NIMASA DG, “We are strongly advocating for a just and equitable transition to net-zero Greenhouse Gas (GHG) emissions for sub-Saharan Africa, Small Island Developing States and Least Developed Countries to ensure fairness and social justice.
“The plastic pollution crisis is also an issue we are addressing with our Marine Litter and Plastic Action Plan.
“We are also driving the implementation of IMO frameworks to promote a healthy marine environment in line with best global practices.
“On the security front, we are delighted that the Deep Blue project (Nigeria’s Integrated Maritime Security Infrastructure) has become a game changer in addressing maritime security in Nigeria and the Gulf of Guinea Area.
“The beauty and the diversity of the Ocean are not just captivating but continue to inspire us all. The opportunities in the ocean are vast and must be harnessed sustainably, from fisheries and aquaculture, renewable energy, shipbuilding and repair, tourism, and port infrastructure development, among others.
“Sadly, the blue economy remains one of the most underfunded sectors globally. According to the World Bank, Sustainable Development Goal 14 (Life below water) is one of the most poorly funded SDGs, with an annual financing gap of approximately USD 150 billion.
“It has been acknowledged globally that Public Funding will never be enough to close the gaps.
“To scale up financing for ocean health and the sustainable blue economy, the private sector must get involved.
“We need the right regulatory frameworks, incentive structures and de-risking mechanisms to mobilise the private sector and bring investment to the scale that is desperately needed.”
