Marine and Blue Economy

By Chibuike Nwabuko

ABUJA (PRECISE POST) – The Federal Government has approved the comprehensive modernisation and upgrade of Onne, Rivers, Delta and Calabar Ports as part of efforts to expand Nigeria’s maritime infrastructure and develop a more balanced and efficient national port system.

The Minister of Marine and Blue Economy, Adegboyega Oyetola, disclosed this in a statement posted on his official X handle on Sunday.

Oyetola said the approval builds on the earlier approval for the modernisation and upgrade of Apapa and Tin Can Island Ports in Lagos, reaffirming the Federal Government’s commitment to developing a globally competitive national port system.

According to him, infrastructure renewal and economic diversification remain central to the Renewed Hope Agenda of President Bola Ahmed Tinubu, stressing that modern and efficient ports are critical to facilitating trade, supporting industries, attracting investment and creating jobs.

He said extending the modernisation programme beyond Lagos would complement ongoing investments in Apapa and Tin Can Island Ports, while reducing the concentration of cargo traffic around Lagos and creating additional efficient gateways for international trade.

The minister noted that upgraded infrastructure and improved operational efficiency at Onne, Rivers, Delta and Calabar Ports would enhance cargo handling, reduce vessel turnaround times, strengthen regional connectivity and make the movement of goods more predictable and cost-effective.

“These ports have strategic roles to play in our trade, industrial and regional development, and we are determined to equip them to meet the demands of a growing economy,” he said.

Oyetola added that the port modernisation programme forms part of a broader expansion of Nigeria’s maritime infrastructure, including Federal Government approvals for the development of the Ibom, Bakassi, Agge, Gateway, Ondo and Bonny Deep Seaports.

He said the government’s approach was to modernise existing ports while facilitating the development of new deep seaports, noting that the investments would expand Nigeria’s maritime capacity, create stronger economic corridors and position the country as a major maritime and logistics hub in Africa.

The minister further outlined the government’s vision of an integrated maritime and logistics system in which ports, roads, railways, inland waterways and other transport infrastructure would work together to enable seamless movement of cargo.

He said the objective was to reduce the time and resources Nigerian businesses spend moving goods, while creating an environment capable of encouraging investment and supporting job creation.

Oyetola assured that the Ministry of Marine and Blue Economy would continue to work with state governments, terminal operators, investors, shipping companies and other stakeholders to ensure that the projects translate into tangible improvements across Nigeria’s marine and blue economy.

“Nigeria has the geography, market and maritime resources to become a leading maritime hub. Our responsibility is to provide the infrastructure, policies and enabling environment required to turn that potential into sustainable economic value,” he said.

By Our Reorter

ABUJA (PRECISE POST) – The Minister of Marine and Blue Economy, His Excellency Dr. Adegboyega Oyetola, CON, on Tuesday presented a ₦10,499,984,667.10 budget proposal for the Federal Ministry of Marine and Blue Economy for the 2026 fiscal year, lamenting that the allocation was grossly insufficient to effectively execute the ministry’s wide-ranging mandate critical to Nigeria’s trade, transport efficiency and food security.

Oyetola made this known while defending the ministry’s budget before a joint sitting of the Senate Committee on Marine Transport and the House of Representatives committees on Ports and Harbours; Maritime Safety, Education and Administration; Shipping Services; Inland Waterways; and Ocean and Fisheries.

He said the proposed budget, which comprises ₦8.24 billion for capital expenditure, ₦453.86 million for overheads and ₦1.81 billion for personnel costs, would only sustain minimal operational continuity rather than deliver meaningful reforms or sectoral growth.

The minister explained that the ministry oversees interconnected subsectors including ports, shipping, inland waterways, fisheries and aquaculture, which collectively handle over 90 per cent of Nigeria’s international trade by volume, national food and nutrition security, and economic competitiveness. He noted that while agencies such as the Nigerian Ports Authority, Nigerian Maritime Administration and Safety Agency and Nigerian Shippers’ Council were self-funding and made significant remittances to the Consolidated Revenue Fund, their operations were being severely constrained by excessive deductions at source by the Office of the Accountant-General of the Federation.

According to him, these deductions had weakened liquidity and reduced the operational flexibility of key agencies responsible for maritime safety, port efficiency and regulatory oversight, with far-reaching consequences including port congestion, higher logistics costs, delayed cargo movement, revenue losses and inflationary pressures. He stressed that what appeared to be an accounting issue had become a national economic concern.

Oyetola also said that the 2026 budget of the Council for the Regulation of Freight Forwarding in Nigeria (CRFFN) was wrongly placed by the Budget Office under the Federal Ministry of Transportation despite the fact that it is an agency under the Federal Ministry of Marine and Blue Economy, saying the misalignment undermined clarity in oversight and policy coherence within the maritime logistics value chain.

On inland waterways, the Minister appealed for increased funding to curb accidents and loss of lives. He said water transport is globally recognised as significantly cheaper than road transport. He noted that Nigeria’s heavy reliance on road haulage for over 80 per cent of freight movement had worsened road deterioration and increased the cost of goods, arguing that safer and more efficient inland waterways would ease pressure on roads and lower logistics costs.

On fisheries and aquaculture, Oyetola said Nigeria’s annual fish demand of over 3.6 million metric tonnes far exceeded domestic production of about 1.4 million metric tonnes, sustaining imports valued at more than one billion dollars annually. He added that post-harvest losses of up to 30 per cent further reduced supply, despite fish being one of the most affordable sources of animal protein for Nigerian households. He assured that the Ministry is working hard to increase local fish production and reduce importation.

The minister disclosed that in 2025, the ministry’s revised capital budget of ₦3.53 billion recorded an actual cash release of just ₦202.47 million, representing about 1.7 per cent, while overhead releases stood at 35 per cent.

He said engagements were ongoing with the Ministry of Budget and Economic Planning to address the funding gaps in line with the Federal Government’s drive to diversify the economy through the marine and blue economy.

The Chairman of the Senate Committee on Marine Transport, Senator Wasiu Eshilokun, assured that the National Assembly would carefully examine the proposals, noting the strategic importance of the marine and blue economy to national development and economic resilience.

By Our Reporter

ABUJA (PRECISE POST) – The Minister of Marine and Blue Economy, Adegboyega Oyetola, has disclosed that the Federal Government has commenced the procurement process for the modernisation of seaports outside Lagos, as part of efforts to ensure balanced development across the nation’s maritime gateways.

Oyetola stated this on Wednesday at the 2025 Chartered Institute of Logistics and Transport (CILT) Nigeria Conference, themed “Enhancing Logistics and Transport for a Sustainable Blue Economy in Nigeria,” held in Lagos.

Represented by the Managing Director of the Nigerian Ports Authority (NPA), Dr. Abubakar Dantsoho, the Minister said the ongoing port modernisation drive is aimed at upgrading infrastructure, improving cargo handling efficiency, and expanding capacity to meet global standards.

“We are working closely with all stakeholders to achieve a paperless, technology-driven port environment that enhances efficiency, reduces turnaround time, and curbs corruption,” Oyetola said.
“As part of this commitment, the Federal Government has approved a one billion US dollar modernisation project for the Lagos ports — a landmark initiative designed to upgrade infrastructure, improve cargo handling, and expand capacity to meet global standards.

“In addition, the procurement process has commenced for similar modernisation projects at ports outside Lagos, to ensure balanced development across our maritime gateways.”

Oyetola explained that the initiatives reflect the administration’s determination to boost logistics performance and competitiveness within the marine and transport sectors, positioning Nigeria as a preferred hub for maritime trade and investment.

He further noted that through strategic interventions such as the Deep Blue Project, Nigeria has sustained a record of zero piracy incidents in the past three years.

“Since the inception of the Ministry, we have focused on strategic reform and institutional strengthening. With the Deep Blue Project and other interventions, we are safeguarding our maritime domain to encourage investment and reduce the cost of doing business.
I am glad to inform you that for more than three years, Nigeria has recorded zero piracy incidents on its waterways,” he said.

The Minister also revealed that the government has developed a comprehensive 10-year National Blue Economy Strategy to align maritime, fisheries, logistics, and coastal development policies within a unified, sustainable framework.

According to him, the Ministry is creating an enabling environment for private sector investment through regulatory reforms, public-private partnerships (PPP), and targeted incentives aimed at driving innovation and job creation across the value chain.

Oyetola stressed that the Ministry’s overarching goal is to promote sustainable and inclusive growth — one that balances economic opportunity with environmental stewardship and social equity.

“Our goal is not growth for growth’s sake, but sustainable and inclusive growth — one that balances economic opportunity with environmental stewardship and social equity,” he said.

“Therefore, I urge CILT and its members to continue to champion the adoption of smart and green transport technologies; promote capacity building for young professionals and operators; advocate for data-driven planning in logistics management; and deepen collaboration with the Ministry and other stakeholders to align expertise with national priorities.”

Meanwhile, the President of CILT Nigeria, Mfon Usoro, announced a 242 percent increase in the Institute’s revenue over the past four years, reflecting the success of ongoing financial reforms and governance initiatives.

According to her, CILT’s revenue rose from ₦7.8 million in December 2021 to ₦55 million in the third quarter of 2025, while its liquid assets grew from ₦17 million in early 2022 to ₦123 million as of Q3 2025.

She attributed the growth to sound financial discipline, accountability, and strategic oversight, adding that all projects and expenditures now pass through the Finance, Budget, and Audit Committee for review.

“Every disbursement request is scrutinised and audited quarterly. The outcome has been phenomenal,” she noted.

Usoro revealed that the Council has approved the adoption of a modern Accounting Enterprise Resource Planning (ERP) system to enhance transparency and streamline audits.

She said CILT’s transformation agenda—launched in 2021—has focused on governance reforms, membership expansion, and digitalisation, all of which have delivered tangible progress.

Established in 1958, CILT Nigeria operates under the global CILT network headquartered in the United Kingdom and serves as the professional body for logistics and transport practitioners in Nigeria.

“Accountability and transparency remain our watchwords. The improvement in our financial standing reflects the confidence and trust of our members,” Usoro said.

The 2025 annual conference brought together industry leaders, academics, and policymakers to discuss sustainable transport systems, digitalisation in logistics, and the Blue Economy.