Revenue generated by agencies under Nigeria’s Federal Ministry of Marine and Blue Economy rose 160 percent to N1.83tn in 2025, from N700.7bn recorded in 2023.
The Minister of Marine and Blue Economy, Adegboyega Oyetola, disclosed this while presenting the ministry’s three-year scorecard, highlighting revenue generation, port infrastructure, maritime security, regulation, indigenous shipping and human-capital development as key areas of progress.
Oyetola attributed the increase in revenue to regulatory reforms, stronger revenue assurance, digitisation and measures aimed at closing financial leakages across agencies under the ministry.
According to the minister, the improvement in revenue performance is part of efforts to establish a more transparent, efficient and investment-friendly maritime economy.
Government sets policy framework for blue economy
Oyetola said a major milestone was the approval of Nigeria’s first National Policy on Marine and Blue Economy in May 2025.
The policy establishes a unified framework for managing and developing opportunities across shipping, fisheries, offshore energy, marine biotechnology and other segments of the blue economy.
The minister said the framework would address the fragmented approach that had previously characterised the management of Nigeria’s marine resources while providing greater certainty for private-sector investment.
“This policy gives us a clear roadmap. It provides the predictability and transparency investors need while ensuring that our marine resources are developed sustainably,” Oyetola said.
Maritime sector targets wider economic opportunities
Nigeria’s marine and blue economy sector is being positioned as a potential source of revenue, trade, employment and investment, leveraging the country’s 853-kilometre coastline and extensive inland waterways.
Oyetola said the ministry’s reform programme had also recorded progress in port infrastructure, maritime security, regulation, indigenous shipping, fisheries and inland-waterway safety.
The minister said the policy would guide government interventions and support private-sector participation across the marine and blue economy value chain.
The revenue increase comes as the Federal Government seeks to improve the contribution of maritime activities to Nigeria’s economy through stronger regulation, digitalisation and increased investment across the sector.
