The Federal Government is ramping up reforms aimed at unlocking Nigeria’s estimated $3 trillion Blue Economy potential, with a focus on boosting maritime security, infrastructure and investment.
Minister of Marine and Blue Economy, Adegboyega Oyetola, disclosed this at the Blue Economy Investment Summit in Abuja, where he highlighted key gains recorded in the sector in recent years.
He said Nigeria has maintained zero piracy incidents for over four years under the Deep Blue Programme, while long-standing gridlock at Apapa Port has been eliminated, improving efficiency in cargo movement.
Oyetola attributed the progress to targeted reforms designed to enhance operational efficiency, transparency and safety across the maritime domain.
He also revealed that the government has secured $746 million to modernise Apapa and Tin Can Island ports, with work expected to begin soon.
According to the minister, revenue from agencies under the ministry rose significantly from N700.79 billion in 2023 to about N1.83 trillion in 2025, driven by automation and stronger regulatory oversight.
He added that fish production increased from 1.1 million tonnes to 1.4 million tonnes, contributing to food security and job creation, while the planned disbursement of the Cabotage Vessel Financing Fund is expected to create at least 30,000 jobs.
The government has also launched a national policy framework to attract investments across shipping, offshore energy, aquaculture, tourism and marine biotechnology, positioning the sector as a key driver of economic growth.
