Connect with us

Maritime Agencies

WMD 2025: Innovative Financing Is Key To Drive Nigeria’s Marine and Blue Economy, Says Oyetola. ‎ ‎S

Published

on



‎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.


Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Maritime Agencies

‎NSW: Stakeholders Fear Success With Weak Commitment by Drivers and Lack of Reforms by Government.

Published

on

By






‎By Izuchukwu Ozoemena





‎As lack of a strong political will, inter-agency coordination and full digital preparedness stare the National Single Window (NSW) in the face, implementing the ambitious trade reform policy is bound to fail as is the case with similar programmes hurriedly put in place with inadequate preparations .

‎Stakeholders at a one-day seminar organized in Lagos by Media Anti-Corruption Initiatives (MACI) and Hynek Media, expressed deep concerns in this regard, thus, supporting the avalanche of opposition to what many industry players say is a good policy that ought to have been properly planned before unveiling last month.

‎The absence of Mr Tola Fakolade, the NSW Director and his team, attendees regretted, robbed the key NSW driver opportunity to participate in robust discussions on this trade regime, apparently lending credence to fears of failure already hanging in the air. While the Nigeria Customs Service, freight forwarders, maritime journalists, Truck Transit Park officials, and other industry players attended to discuss the theme  “National Single Window: Strategies to Avert Failure,” the  NSW key driver, Mr Fakolade, was visibly absent. Not even a team member was available to stand in for him!

‎However, participants acknowledged the transformative potentials of the NSW. In his goodwill message, Otumba Frank Ogunojemite, National President, APFFLON, represented by Alhaji Akeem Ayobiojo, Tincan Port chapter Chairman of the group, said NSW is a future legacy for Nigeria. His concern, however, is “how do we guarantee the success going by how businesses run in Nigeria, with vices and efforts to sabotage good and laudable programmes of government?
‎Speaking for other freight forwarders and customs agents, Ayobiojo quickly recalled current difficulties in uploading NAFDAC, SONCAP certificates and other documents to the NSW portal. There are delays, demurrages and other challenges, he said, acknowledging these as an index  of  ill-preparation and  wobbling attempts to introduce a new system. He deeply regretted the absence of the NSW team at the event to throw more light and make clarifications on the waivers promised, among others.

‎Officers of the Nigeria Customs Service (NCS) made an impressive attendance at the event. Speaking on behalf of the National Public Relations Officer, Superintendent of Customs J.D. Tomo, Public Relations Officer, Lagos Area Industrial Command, said the NSW is at the elementary stage of implementation. Certain modalities in this regard, she explained, are still being worked out. All agencies are to be on one page to facilitate trade, reduce time wastage while carrying everybody along. NSW, she assured, is neither depriving the Customs of her traditional role in trade facilitation nor duplicating the B’Odogwu customs regime. Rather, NCS embraces NSW to make her job easier.

‎The Registrar, Council for the Regulation of Freight Forwarding in Nigeria (CRFFN) represented by Okechukwu Nwankwo, Head of Lagos Area office said the NSW is a new system Nigerians should give time to play out and mature. Much as the CRFFN is fully integrated on the NSW, as professionals, freight forwarders, he advised, must have professional licences before integrating into the NSW.

‎In its intervention, the TTP team led by Joseph Alo expressed concerns that whenever technology is introduced to improve existing systems, beneficiaries from the old order must designed methods to torpedo it to their selfish advantage. He said there have been constant engagement and interactions on ways to overcome initial glitches. “We’re looking at doing things differently to improve the system in the port industry,” he explained.

‎Delivering the lead paper on “National Single Window: Strategies to Avert Failure”,  Dr Segun Musa, Managing Director/CEO, Global Transport Policy Ltd, said that an effective Single Window system must incorporate fast-track arbitration and appeal processes. Citing the International Chamber of Commerce, he noted that clear dispute resolution mechanisms can reduce trade disruptions by up to 40 per cent.

‎On enforcement, Musa referenced OECD studies indicating that effective compliance measures—supported by real-time risk engines, audits, and penalties for false declarations—can raise compliance levels by as much as 50 per cent.

‎Speaking through Mr. Mark Oluchi, Dr harped on the need for data-driven insights. He explained that data generated from shipments, tariffs, and processing timelines can help detect revenue leakages, guide infrastructure investments, and identify suspicious cargo patterns linked to smuggling.

‎He stressed the need for a true “one-stop shop” model where all trade documents are submitted once through a unified platform, eliminating duplication and delays, while also calling for strong private sector collaboration to ensure efficiency.

‎“Launching Nigeria’s National Single Window is not merely a technical upgrade; it is a strategic overhaul of our trade ecosystem. If we get these fundamentals right, the rewards will be transformative—more jobs, increased investment, and greater economic prosperity. The time to act is now.”

‎All in all, the attendees insisted on efficiency because an efficient system stands to reduce trade transaction costs by up to 25 per cent, increase government revenue by 20 per cent, boost exports by 15 per cent, and attract about 10 per cent more foreign direct investment (FDI).
‎They expressed strong fears, however, that Nigeria’s history of failed reforms often caused by weak coordination, institutional rivalry, and poor infrastructure stand to undermine the success of the NSW if adequate safeguards are not put on ground. Nigeria must learn from failed efforts.













Continue Reading

Maritime Agencies

‎Dantsoho, NPA MD, Attributes Maritime Sector Transformation to Reforms and Minister’s Leadership Style.

Published

on

By





‎By Izuchukwu Ozoemena




‎Managing Director of the Nigerian Ports Authority (NPA), Dr. Abubakar Dantsoho, has fingered Federal Government’s reforms and the leadership style of the Marine and Blue Economy Minister, Adegboyega as reasons for the huge transformation going on in the maritime industry.

‎This is even as investors are being assured of Nigeria’s capacity to dominate Africa’s blue economy with ongoing federal government reforms and increased private sector participation which are critical drivers of transformation in the maritime sector.

‎Dantsoho gave the assurance while speaking at the Blue Economy Investment Summit in Abuja, where he stressed that Nigeria’s port system would play a pivotal role in unlocking strategic investments and accelerating economic growth.

‎He noted that the country must urgently refocus its economic priorities towards fully harnessing its vast marine resources in line with global sustainability goals.

‎“The time has come for a paradigm shift in the structure of Nigeria’s economy towards the full utilisation of our marine resources. Our port system, if properly harnessed, can serve as a major driver of economic growth,” Dantsoho said.

‎The NPA boss explained that Nigeria’s strategic location, large population and economic strength position it to become a maritime hub for West Africa, comparable to global leaders such as Singapore and Morocco.

‎“By virtue of our strategic location, market size and economic strength, Nigeria is well-positioned to function as the maritime hub for West Africa,” he added.

‎Despite these advantages, Dantsoho expressed concern that Nigeria currently handles only about 25 per cent of cargo traffic in the region, even though it accounts for over 60 per cent of West Africa’s GDP.

‎“It is worrisome that Nigeria, despite controlling over 60 per cent of West Africa’s GDP, handles only about 25 per cent of the region’s cargo traffic. This clearly shows that we have not fully optimised our potential,” he said.

‎He, however, assured investors that the tide is turning, as the federal government, through the Federal Ministry of Marine and Blue Economy, is implementing far-reaching reforms to reposition the sector.

‎According to him, key initiatives include port modernisation, deployment of a Trade Single Window, implementation of a Port Community System, development of deep seaports and full digitalisation of port operations.

‎“We are implementing key strategic initiatives such as port modernisation, trade single window, port community system, deep seaport development and full digitalisation to reposition our ports for global competitiveness,” he stated.

‎Dantsoho emphasised that private sector funding remains central to achieving these goals, noting that the NPA is actively encouraging project financing to bridge infrastructure gaps and improve efficiency.

‎“We are open to private sector participation through project financing. This approach is already improving efficiency and providing access to funding for critical infrastructure,” he said.

‎He added that the reforms are designed to enhance port efficiency, improve connectivity, reduce freight costs and boost non-oil exports, ultimately driving revenue growth.

‎“The ultimate goal is to improve liner connectivity, attract bigger vessels, reduce freight costs, and expand our export base, which will significantly boost revenue generation,” he noted.

‎Dantsoho stressed that competitiveness in the global maritime industry requires efficient operations, competitive pricing and strong hinterland connectivity, adding that Nigerian ports must remain adaptive to evolving global shipping trends.

‎“With sustained commitment to these initiatives, Nigeria’s port system will enter a new phase and emerge as a leading maritime logistics hub in Africa,” he assured.

‎Also speaking, the Minister of Marine and Blue Economy, Gboyega Oyetola, said Nigeria’s natural endowments, including its 823-kilometre coastline and extensive inland waterways, place it in a strong position to lead the sector.

‎“With over 823 kilometres of coastline, extensive inland waterways and a prime location along the Gulf of Guinea, Nigeria is uniquely positioned to harness the immense potential of the marine and blue economy,” Oyetola said.

‎He added that reforms by the federal government have improved coordination, strengthened maritime security and boosted investor confidence, noting that the sector accounts for over 90 per cent of Nigeria’s international trade by volume.

Continue Reading

Maritime Agencies

‎MARAN Confirms Readiness To Celebrate Past Presidents.

Published

on

By






‎By Izuchukwu Ozoemena







‎Arising from weeks of intensive planning and stakeholder engagements, the Maritime Reporters’ Association of Nigeria (MARAN) hereby confirms readiness and an overwhelming industry stakeholders support for its planned special reception to honour her past presidents.

‎The reception is a landmark event aimed at celebrating leadership, service and the enduring contributions of media professionals to Nigeria’s maritime industry.

‎The event which promises to be a gathering of industry heavyweights, ministry officials, policymakers, regulators, terminal operators, shipping companies, freight forwarders and other critical stakeholders, is designed not only to honour past leaders of MARAN but to restate the role of maritime journalism in shaping policy, promoting accountability, and driving sectoral growth.

‎Speaking on the event, MARAN Caretaker Committee Chairman, Tunde Ayodele noted that the reception serves as a platform to reflect on the legacies of past presidents whose leadership helped position the association as a respected voice in the maritime space.

‎He added that the event will also provide an opportunity to strengthen collaboration between the media and industry operators at a time when the sector is undergoing significant reforms and modernization.

‎As stated by Funsho Olojo, Chairman, Reception Planning Committee, notable dignitaries from government institutions, including the Ministry of Marine and Blue Economy, as well as heads of key maritime agencies, have indicated strong interest in attending the event.

‎Several corporate organizations and industry groups have also signified their willingness to support the initiative, underscoring its importance to the wider maritime community.

‎Mr Olojo, while giving an overview of the event, declared that it would serve as a veritable platform to celebrate excellence, hard work and quality leadership offered by past MARAN leaders.

‎”MARAN, as the projenitor of  beat associations in the maritime industry, has produced finest individuals who have had the privilege of leading this great association.

‎”They have sacrificed their time, energy and intellect to make MARAN the greatest beat association in the maritime industry.

‎” More encouraging is the fact that all of these past leaders are currently doing well in their different endeavors.

‎” Some are excelling as Ministers of God in His vineyard, some are holding their own in the legal profession, some have become media moguls and employers of labour while some are practicing their crafts as political appointees.

‎” It is at this reception that MARAN hopes to unveil their excellence and celebrate their rising profiles”, Olojo declared.

‎The reception, which will be held on April 24, 2026 at Rockview Hotel, Apapa, Lagos, is expected to feature award presentations, goodwill messages, and networking sessions that will foster deeper engagement among stakeholders while celebrating excellence in maritime journalism.

‎As the momentum continues to build, the association therefore calls on industry stakeholders, corporate organizations, and well-meaning individuals to be part of this historic event through sponsorships, partnerships, and active participation.

‎MARAN is the foremost maritime journalists beat association, and a professional body that is committed to promoting ethical journalism, capacity building, and informed reporting within Nigeria’s maritime and blue economy sector.

Continue Reading
Advertisement
Maritime Agencies4 days ago

‎NSW: Stakeholders Fear Success With Weak Commitment by Drivers and Lack of Reforms by Government.

Maritime Agencies5 days ago

‎Dantsoho, NPA MD, Attributes Maritime Sector Transformation to Reforms and Minister’s Leadership Style.

Maritime Agencies1 week ago

‎MARAN Confirms Readiness To Celebrate Past Presidents.

Maritime Agencies1 week ago

‎NATIONAL SINGLE WINDOW: MACI, Hynek Host Parley To Address Risks and Concerns.

Maritime Agencies1 week ago

‎Akutah, Shippers’ Council Boss, Denies Political Distraction Claims, Insists He’s Focused on His Duties.

Maritime Agencies1 week ago

SINGLE WINDOW HICCUPS: Shippers’ Council, Revenue Service Canvass Waivers for Importers .

Maritime Agencies2 weeks ago

‎PIPELINES SURVEILLANCE: National Assembly Commends Tantita for Performance, Dismisses Petitions over Contract Award.

Maritime Agencies2 weeks ago

‎NATIONAL SINGLE WINDOW: Anti-Corruption Group Hosts Seminar To Tackle Envisaged Risks.

Maritime Agencies2 weeks ago

‎ICTN: FG Gives Shippers’ Council Nod for a Roll-Out, Agencies Sign Performance Bonds.

Maritime Agencies3 weeks ago

NPA Deepens Digitalization,Targets Port Community System As ETO undergoes Review.

Maritime Agencies3 weeks ago

Nigeria Canvasses Regional Co-operation, Investment Drive at Liberia Fisheries Summit.

Maritime Agencies3 weeks ago

‎PORTS MODERNIZATION, NATIONAL SINGLE WINDOW TO TACKLE PORTS CHALLENGES, Says NPA MD.

Maritime Agencies4 weeks ago

Oyetola Welcomes EU Delegation, Urges Stronger Role Against Illegal Fishing, Maritime Crimes in the GoG.

Maritime Agencies4 weeks ago

‎Maritime Journalists’ Group, MARAN, Set To Honour Her Past Leaders.

Maritime Agencies4 weeks ago

‎Tincan Customs Posts Over N120.4bn in February, 2026, A Huge Leap Above the February 2025 Records.

Maritime Agencies4 weeks ago

‎TRADE FACILITATION: FG Unveils National Single Window To Encourage Coordinated and Technology-Driven Trade System.

Personality Interviews2 years ago

1. EXECUTIVE PLATFORM. AMES 2024: TIME TO CHANGE GOVERNMENT ATTITUDE TOWARDS SHIPPING DEVELOPMENT IS NOW, AMES President Charges FG.

Politics3 years ago

2023 ELECTIONS:CILT Hosts Seminar on Logistics & Electoral Process

Maritime Agencies3 years ago

APFFLON Seeks Immediate Reform of CRFFN, Replacement of Registrar.

Maritime4 years ago

OMIS AWARDS, 2022: Greg Ogbeifun, Industry Gurus For Special Recognition.

Maritime Agencies12 months ago

B’ODOGWU TRADE PORTAL: Customs Consolidates, Pilots Form ‘M’ Processing. 

Maritime Agencies2 years ago

FG Set To Re-establish National Shipping Line, To Take Advantage of $10 bn Annual Ship Charter Market.

Photospeak4 years ago

PHOTO NEWS: Maritime Capacity Development

Photospeak4 years ago

Photo News: Salah Celebration

News3 years ago

Sylvanus Ekpo, ex-Editor, Shipping World Magazine, loses Mum

Maritime Agencies2 years ago

HALF YEAR, 2024: Apapa Customs Nets ₦1.024 Trillion, Records 143% Increase.

Maritime Agencies2 years ago

JANUARY-MAY REPORT: Seme Customs Hits N2.6bn, Facilitates ₦35.1bn Exports.

Oil & Gas4 years ago

WAR AGAINST OIL THEFT: Tompolo’s Company Nabs VLCC Laden With Crude Oil

News2 years ago

Mama Theresa Enisuoh Due For Burial April 27

Business3 years ago

SIFAX GROUP: Ojeniyi Becomes Sky Capital GMD, Omajuwa Strategy Director.

Maritime Agencies4 years ago

MAN, ORON: It’s Encomiums Galore From International Seabed Authority (ISA).

Maritime Agencies4 years ago

INLAND WATERWAYS OFFERS NIGERIA ALTERNATIVE REVENUE SOURCE, Says Sambo

Advertisement
Realtime Website Traffic

Trending