Maritime Agencies
WMD 2025: Innovative Financing Is Key To Drive Nigeria’s Marine and Blue Economy, Says Oyetola. S
By Izuchukwu Ozoemena
Without a strong financial provision and sustainable investment, Nigeria’s dream to make the best out of the vast marine resources in her environment may turn out a pipe dream. Therefore, finance remains the decisive factor in transforming the country’s new vision for its marine and blue economy.
H.E. Adegboyega Oyetola, Minister of Marine and Blue Economy made the declaration in Lagos, Thursday, at the 3rd Quarter Citizens’ and Stakeholders’ Engagement of the Ministry and her agencies.
According to the Minister, the event’s theme, “From Policy to Impact: Finance is Key,” is both timely and urgent as the Federal Executive Council’s approval of Nigeria’s first-ever National Policy on Marine and Blue Economy in May 2025 had created a clear roadmap for growth even though the next critical step lies in mobilising the capital needed to achieve results.
He said the new policy envisions economic growth across a wide range of sectors including shipping, fisheries and aquaculture, marine tourism, coastal infrastructure, renewable energy and ocean research.
In the opinion of the Minister, “vision without financing remains no more than a dream”. He pointed out that government alone cannot shoulder the immense responsibility of modernising Nigeria’s ports, sustaining maritime security, expanding aquaculture, or building climate-resilient infrastructure. It would take innovative partnerships, international financing mechanisms and strong private sector engagement to translate policy into measurable outcomes.
Oyetola drew attention to the Ministry’s proven record of discipline and results, recalling that in the first quarter of 2025, the Central Results Delivery Coordination Unit (CRDCU) awarded the Ministry a performance score of 96 per cent, while in 2024 the Presidential Enabling Business Environment Council named it the best performing ministry in the country. These achievements, he said, demonstrate the government’s capacity to deliver, but scaling up requires unlocking far greater resources.
The Minister cited recent examples where financing has already yielded impact. Nigeria, he noted, has sustained a piracy-free record for more than three years in the Gulf of Guinea, a feat made possible through investments in the Deep Blue Project. Rehabilitation and modernisation of Lagos ports are underway, designed to attract larger vessels, cut down turnaround time and create thousands of jobs, with similar initiatives planned across the country.
He said consultations with fisheries associations earlier in the year are driving the scaling of aquaculture, the development of fish harbours, and the deployment of satellite monitoring systems. These interventions, he said, have already contributed to Nigeria’s economic diversification agenda, with non-oil exports rising by almost 20 per cent in the first half of the year.
He argued that the marine and blue economy must not be seen as a government-only endeavour but rather as a shared prosperity project in which finance is the lever that will draw in long-term private capital, align practices with international standards, and ensure that every stakeholder effort complements the national 10-year policy. With policy clarity, proven results and demonstrated capacity, what Nigeria now requires is scale, and for that finance is indispensable.
“Distinguished stakeholders and partners, let us be clear: the Marine and Blue Economy is not solely a government agenda — it is a shared prosperity project. Finance is the lever that will attract long-term private capital; align our practices with global standards in PPPs, bonds, and blended finance, and ensure every stakeholder initiative complements the 10-Year National Policy for maximum impact,” the Minister said.
Minister Oyetola stressed that Nigeria’s path from policy to impact requires aligning ambition with resources, strategy with execution, and vision with impact.
“With collective commitment and innovative financing”, he said, “Nigeria is well placed to secure leadership in Africa’s marine and blue economy and to generate the prosperity, jobs and environmental resilience that its citizens deserve.”
The Permanent Secretary of the Ministry, Mr Olufemi Oloruntola, also addressed the gathering through a technical presentation titled “Imperatives of Public Investment for Marine and Blue Economy Development.” He described public investment as essential seed capital that de-risks private participation, strengthens regulatory institutions and aligns national priorities with long-term growth objectives.
Oloruntola warned that the current budgetary allocation to the marine sector is grossly inadequate when compared to the capital-intensive responsibilities of port modernisation, maritime security, fisheries, tourism and renewable energy. He therefore called for a dedicated Blue Economy Fund, stronger public–private partnerships, and the adoption of blue bonds, green financing instruments and development support from multilateral partners.
In his analysis, the Permanent Secretary outlined opportunities for Nigeria to harness, including the modernisation of seaports and inland waterways, support for indigenous shipping lines, expansion of fisheries and aquaculture, development of cruise terminals and eco-tourism infrastructure, as well as investment in marine biotechnology and renewable energy.
He argued that with the right financing structure, Nigeria could unlock access to over 1.5 trillion dollars in global blue economy opportunities projected by 2030, create millions of jobs, and secure sustainable livelihoods for coastal communities.
Making a presentation at the event, Mr Jude Chiemeka, Chief Executive Officer, Nigerian Exchange Limited, who delivered a paper titled “Marine and Blue Economy Development: Alternative Sustainable Financing Option”, highlighted the role of the capital market in raising long-term financing for blue economy projects, underscoring the importance of sustainability-linked loans, blended finance and impact investments in building resilience across the sector.
The event drew broad participation from maritime associations, financial institutions, civil society and other interest groups, reflecting a shared recognition that the marine and blue economy is central to Nigeria’s diversification agenda.
By Izuchukwu Ozoemena
Nigeria’s pioneer maritime reporters body, the Maritime Reporters Association of Nigeria (MARAN), Thursday, set aside the Godfrey Bivbere-led Executive, replacing it with a 3-man Caretaker Committee to run the affairs of the body in the interim.
The Caretaker Committee unanimously put in place is part of a major reorganization to reposition MARAN to enable her meet her cardinal aspirations .
Led by Mr Tunde Ayodele as Chairman, Mr John Obot and Mrs Ruth Sunday Umunna now serve as Secretary and Treasurer respectively.
Unveiling the new dispensation in a release, MARAN wishes all stakeholders, particularly in the maritime sector, ministries, government departments and agencies to, henceforth, direct and channel all dealings with the new leadership.
”The Association wishes to state categorically that the action is for the good of the Association, the industry and the nation in general and should therefore not be misconstrued.”
”We wish to use this medium to invite our highly esteemed stakeholders to our Association’s forthcoming launch of the book, “50 Drivers of the Nigerian Marine and Blue Economy”, coming up on the 4th of December, at Providence Hotel, GRA, Ikeja, Lagos.”
”The Maritime Reporters Association of Nigeria, MARAN, is a foremost body of highly cerebral, credible, erudite and professional Journalists, registered with the Corporate Affairs Commission. It has been covering the activities of the maritime industry for nearly four decades.”
”The Association had made its indelible mark in the maritime sector through unbiased, insightful, and impactful reportage of the sector over the years.
It is the first and the longest Maritime Association in the Industry and has evolved with more than forty members from the Prints, Electronic and Online platforms.”
Maritime Agencies
ILLEGAL WILDLIFE TRAFFICKING: Seme Border Customs Nabs Traffickers of Lion Cubs, Patas Monkeys.
By Izuchukwu Ozoemena
In continuation of the campaign against illegal trafficking of wild life and endangered animal species, the Seme Area Command of the Nigeria Customs Service has intercepted a consignment of endangered wildlife species, including one lion cub and two patas monkeys. This followed a stop-and-search operation along the Badagry–Seme Expressway.
A statement issued by the Command’s Public Relations Officer, Chief Superintendent of Customs Isah Sulaiman says the interception occurred at about 2:19 a.m. on Sunday, November 16, 2025, when operatives stopped a blue Mazda vehicle with registration number MUS 743 HA at Gbaji.
Upon inspection, officers discovered the animals whose cross-border transportation was a clear violation of national and international wildlife protection laws.
Two suspects — Mathew Kofi, a Beninoise national and Nasiru Usman Gwandu, a Nigerian — claimed ownership of the animals and admitted to purchasing them in Kano with the intention of conveying them to Benin Republic.
The Command immediately confiscated the animals in line with Nigeria’s obligations under the Convention on International Trade in Endangered Species of Wild Fauna and Flora (CITES).
The suspects were detained for further investigation to determine their level of involvement in wildlife trafficking.
Formally handing over the lion cub and monkeys to the Greenfingers Wildlife Initiative for proper handling, the Customs Area Controller , Comptroller Wale Adenuga, represented by Deputy Comptroller A.Y.Mohammed, reaffirmed the Command’s commitment to enforcing wildlife protection laws, environmental conservation and border security.
“We will continue to work with relevant agencies to ensure that the illegal trade in endangered species is decisively curtailed,” he stated.
He said the interception underscores Nigeria Customs’ growing role in combating wildlife trafficking and protecting biodiversity, while reinforcing the country’s compliance with international conservation standards.
By Izuchukwu Ozoemena
The Minister of Marine and Blue Economy, Adegboyega Oyetola, CON, has been unveiled as the Special Guest of Honour for the official launch of the Maritime Reporters Association of Nigeria’s (MARAN) latest publication, “50 Drivers of Nigeria’s Marine and Blue Economy.”
The high-profile event is scheduled for Thursday, December 4th, 2025, at Providence Hotel, Ikeja GRA, Lagos by 12noon.
According to a statement by the MARAN President, Mr. Godfrey Bivbere, the ceremony will be chaired by former Nigerian Minister of Interior and Chairman of Integrated Oil and Gas, Capt. Emmanuel Iheanacho.
Bivbere noted that the presence of these eminent personalities underscores the book’s relevance to Nigeria’s evolving maritime landscape, particularly as the nation intensifies efforts toward repositioning its marine and blue economy for sustainable growth.
He described the forthcoming book as a “comprehensive compendium” that documents the individuals, agencies, and organisations shaping Nigeria’s maritime transformation.
His words: “This indispensable volume educates industry professionals on the profound history and current opportunities within the sector, spotlighting the people and institutions whose contributions continue to drive national development.
”With the book, readers can discover how the blue economy’s past is paving the way for a promising future.”
The MARAN President explained that the publication is the product of months of rigorous research and editorial work aimed at capturing the achievements and innovations of the 50 most influential drivers in the sector.
He added that the December 4 launch is expected to attract top government functionaries, regulators, shipowners, freight forwarders, terminal operators, scholars, and investors, making it one of the most anticipated gatherings of maritime leaders in recent years.
Bivbere assured that arrangements are in top gear to deliver a befitting event that celebrates excellence, professionalism, and service to the nation’s maritime advancement.
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Maritime Agencies2 weeks agoPTML Customs Intercepts 1000kg of Cocaine In Empty Container
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Maritime Agencies1 week agoIMPRESSIVE REVENUE DRIVE: Tincan Customs Generates ₦154.3Bn In October.
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