The Minister of Marine and Blue Economy, Mr. Adegboyega Oyetola, has called for sustainable financing and stronger partnerships to accelerate Nigeria’s maritime growth agenda.
Speaking at the 3rd Stakeholders’ Forum in Lagos on Thursday, themed “From Policies to Impact: Financing Issues,” Oyetola said interventions in marine infrastructure helped boost non-oil exports by 18.6 per cent in the first half of 2025, showing the sector’s transformative potential.
He noted that the Federal Executive Council’s approval of Nigeria’s first National Policy on Marine and Blue Economy in May was a milestone but stressed that its success hinged on collective investment in port modernisation, aquaculture, maritime security, and coastal infrastructure.
“Finance is the catalyst that transforms policy into progress,” Oyetola said, urging investors, development partners, and global financiers to align with Nigeria’s blue economy ambitions.
Priority areas, he explained, include sustaining Nigeria’s three-year zero-piracy record in the Gulf of Guinea, scaling up fisheries, and expanding marine tourism. He added that research, renewable energy, and coastal resilience could be funded through innovative financing instruments such as blue bonds and sustainability-linked loans.
Permanent Secretary of the ministry, Mr. Olufemi Oloruntola, stressed the need for deliberate public investment and stronger institutions, while Director of Planning, Research and Statistics, Hajia Ralthum Ibrahim, said the ministry had developed a monitoring template to ensure accountability across projects.
Industry veteran and former Interior Minister, Emmanuel Iheanacho, praised the ministry’s efforts, describing the blue economy as a “frontier of prosperity and sustainability” for future generations.
The forum, which brought together government officials, industry leaders, civil society, and academia, reaffirmed the urgency of mobilising capital and partnerships to sustain Nigeria’s maritime ambitions.
