Marine, Blue Economy Agencies Generate N1.83tn as Revenue Surges 160%

• Agencies under the Ministry of Marine and Blue Economy generated N1.83tn in 2025, up 160 percent from N700.79bn in 2023.

• Oyetola attributed the increase to regulatory reforms, digitisation, stronger revenue assurance and efforts to curb financial leakages.

• Nigeria also recorded zero piracy in its territorial waters for four consecutive years as the government pushes port expansion and indigenous shipping.

August 31, () — Agencies under Nigeria’s Ministry of Marine and Blue Economy generated N1.83tn in revenue in 2025, representing a 160 percent increase from the N700.79bn recorded in 2023.

Minister of Marine and Blue Economy, Adegboyega Oyetola, disclosed this while presenting the ministry’s three-year scorecard in Abuja, attributing the increase to regulatory reforms, stronger revenue assurance, digitisation and measures introduced to eliminate financial leakages.

He said the revenue growth was part of broader reforms aimed at turning Nigeria’s maritime resources into sustainable economic value while improving the efficiency and competitiveness of the sector.

Port reforms drive maritime transformation

Oyetola said port modernisation remained central to the government’s agenda, with upgrades ongoing at Apapa, Tin Can Island, Onne, Rivers, Calabar and Warri ports.

The projects include channel improvements, modern cargo-handling infrastructure and increased digitisation of terminal operations to improve efficiency and enable Nigerian ports to handle larger volumes of international trade.

According to the minister, the World Bank and S&P Global Market Intelligence ranked Tin Can Island Port 10th and Lagos Port Complex, Apapa, 12th among the world’s 20 most improved container ports between 2020 and 2025.

He said congestion around Apapa had also been reduced through the electronic truck call-up system, dedicated holding bays and expanded inland barging.

The ministry, he added, had helped save port users more than N86bn in unjustified demurrage, while nearly 300 commercial disputes had been resolved through alternative dispute resolution.

Government is also expanding port capacity through deep-seaport projects in Akwa Ibom, Cross River, Bayelsa, Ondo, Lagos and Rivers states, alongside the operationalisation of inland dry ports to move cargo-handling services closer to businesses in the hinterland.

Security and indigenous shipping

Oyetola said Nigeria had recorded zero piracy in its territorial waters for four consecutive years, supported by security assets deployed under the Deep Blue Project.

The development, he said, had helped eliminate piracy-related surcharges on vessels calling at Nigerian ports and improved Nigeria’s reputation as a safer maritime corridor.

Nigeria also regained its seat on the International Maritime Organization’s Category C Council in November 2025 after a 14-year absence.

On indigenous shipping, Oyetola said plans were at an advanced stage to revive a national shipping carrier through a public-private partnership, while the process for disbursing the Cabotage Vessel Financing Fund had commenced to help Nigerian shipowners acquire modern vessels.

He said expanded seafarer training and sea-time placements had also contributed to an increase of more than 80 percent in average seafarer earnings.

Blue economy expands beyond shipping

Beyond ports and shipping, the ministry is focusing on fisheries, inland waterways, marine safety and environmental sustainability.

Oyetola said fish production reached 1.4 million metric tonnes in 2025, while Nigeria achieved full compliance with Turtle Excluder Device requirements among inspected commercial shrimp trawlers.

On inland waterways, he said the government had distributed thousands of life jackets and planned to replace unsafe wooden boats with modern fibreglass vessels.

He also said the ministry had streamlined marine logistics to support the Federal Government’s Naira-for-Crude policy and domestic refining.

Oyetola identified the approval of Nigeria’s first National Policy on Marine and Blue Economy in May 2025 as another major achievement, saying it provided a unified framework for shipping, fisheries, offshore energy, marine biotechnology and other emerging sectors.

He said the policy, combined with ongoing institutional and digital reforms, was intended to provide greater certainty for private-sector investment.

“The blue economy is no longer an untapped frontier. It is becoming a major engine of national prosperity, regional competitiveness and sustainable growth,” Oyetola said.