Nigeria’s maritime sector has entered a decisive phase of renewal following a series of far-reaching reforms and interventions initiated by the Minister of Marine and Blue Economy, Dr Adegboyega Oyetola.
According to the Minister’s Special Adviser, Dr Bolaji Akinola, the marine and blue economy sector has been decisively unlocked for genuine growth and development under Oyetola’s leadership, with several long-standing constraints—once considered permanent—successfully dismantled.
Akinola said the Minister’s actions since assuming office in August 2023, particularly throughout 2025, have removed obstacles that constrained the sector for decades, restoring confidence, improving performance and repositioning the marine and blue economy as a key pillar of Nigeria’s economic diversification drive.
Foremost among these achievements, he noted, was the resolution of the long-standing Apapa gridlock, which for over 20 years paralysed the Lagos port corridor and disrupted trade. By early 2024, sustained policy coordination, operational discipline and infrastructure optimisation delivered lasting relief, significantly reducing cargo dwell time, lowering logistics costs and restoring the Lagos ports as efficient gateways for national and regional commerce.
Another major breakthrough, Akinola said, was Nigeria’s return to the International Maritime Organisation (IMO) Council in 2025 after a 14-year absence. The victory, secured through a keenly contested election, restored Nigeria’s international maritime standing, strengthened its influence in shaping global maritime regulations and reaffirmed global confidence in the country’s maritime governance.
He further disclosed that approval was secured in 2025 for Nigeria’s first comprehensive port upgrade and modernisation in over five decades, ending years of reliance on obsolete infrastructure. According to him, the initiative will align Nigerian ports with global standards, enhance competitiveness, attract larger vessels and position the country as a maritime and logistics hub for West and Central Africa.
In another landmark development, the Ministry issued compliance certificates for the Bakassi Deep Sea Port and the Ondo Deep Sea Port to the governments of Cross River and Ondo states respectively. Akinola said the certificates represent a critical regulatory breakthrough that paves the way for accelerated investment, construction and eventual operations of the two ports.
He also highlighted the establishment of the Regional Maritime Development Bank (RMDB) in 2025, which resolved a 16-year stalemate that had limited access to maritime finance. With the RMDB now in place, he said long-term funding is expected to flow into shipping, port development and maritime services, providing the financial backbone for sustained sectoral growth.
Equally significant, Akinola said, was the approval granted for the Nigerian Maritime Administration and Safety Agency (NIMASA) to commence the long-awaited disbursement of the Cabotage Vessel Financing Fund (CVFF). Dormant for over two decades, he said the activation of the fund marks a turning point for indigenous ship ownership, enabling Nigerian operators to acquire modern vessels and compete more effectively.
Beyond these milestones, he noted that the Minister achieved a historic policy breakthrough with the approval by the Federal Executive Council in May 2025 of Nigeria’s first-ever National Policy on Marine and Blue Economy. The policy, he explained, provides a coherent long-term roadmap that integrates shipping, ports, fisheries, aquaculture, marine tourism, offshore energy, seabed resources and environmental sustainability into a unified national strategy.
Akinola also cited notable gains in maritime security, attributing the sustained zero piracy incidents in Nigerian waters to the effective deployment and coordination of assets under the Deep Blue Project. He said the achievement has strengthened Nigeria’s reputation as a safe maritime domain and boosted investor confidence.
In addition, he disclosed that Nigeria recorded an increase of 300,000 metric tonnes in fish production in 2025—the first such rise in over a decade—reflecting the Minister’s commitment to reducing fish importation, improving food security and creating jobs across the fisheries and aquaculture value chain.
Akinola said the cumulative impact of these achievements has laid a solid foundation for sustainable growth in the marine and blue economy sector, describing 2025 as a defining year marked by bold reforms and measurable outcomes.
Looking ahead, he assured that Minister Oyetola remains committed to supporting indigenous ship owners, boosting fish production and pursuing policies that will enable Nigerian operators to compete effectively with foreign counterparts.
With long-standing barriers now dismantled, Akinola said the sector is poised for accelerated growth as the Minister builds on the gains already recorded to deliver even greater outcomes in the years ahead.
