The Minister of Marine and Blue Economy, Adegboyega Oyetola, has emphasized the need for sustainable financing and stronger partnerships to accelerate Nigeria’s blue economy agenda.
Speaking at the 3rd Stakeholders’ Forum in Lagos on Thursday, themed “From Policies to Impact: Financing Issues”, Oyetola noted that recent interventions in marine infrastructure boosted non-oil exports by 18.6 per cent in the first half of 2025, highlighting the sector’s transformative potential.
He described the Federal Executive Council’s approval of Nigeria’s first National Policy on Marine and Blue Economy in May as a milestone, but stressed that its success would depend on collective efforts and major investments in modernising ports, expanding aquaculture, strengthening maritime security, and building resilient coastal infrastructure.
“Finance is the catalyst that transforms policy into progress,” Oyetola said, urging investors, development partners, and global financiers to align with Nigeria’s blue economy vision.
Key focus areas include maintaining Nigeria’s zero-incident piracy record in the Gulf of Guinea, scaling up fisheries, and unlocking opportunities in marine tourism and coastal development. He also pointed to achievements such as three years without piracy incidents—thanks to the Deep Blue Project—and ongoing rehabilitation of Lagos ports.
The Minister further highlighted the importance of investing in marine research, renewable energy, and environmental resilience through innovative financial tools like blue bonds and sustainability-linked loans.
Supporting his remarks, the Permanent Secretary of the ministry, Olufemi Oloruntola, stressed that deliberate public investment and stronger institutions are critical to driving growth in the sector.
Similarly, Hajia Ralthum Ibrahim, Director of Planning, Research and Statistics, said the forum provided a timely platform to deepen dialogue and mobilise resources for implementation. She noted that a tracking template had been developed to ensure accountability across ports, aquaculture, fisheries, and marine tourism.
Ibrahim added that finance remains the lifeblood of progress, with the ministry actively pursuing innovative models and private sector partnerships to unlock opportunities.
Former Interior Minister, Emmanuel Iheanacho, also commended the ministry’s efforts, stressing that harnessing the blue economy could deliver prosperity and sustainable development for future generations.
The forum brought together government officials, industry leaders, civil society, academics, and community representatives—all committed to advancing Nigeria’s maritime potential.