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Revenue generated by agencies under the Federal Ministry of Marine and Blue Economy rose by 160 per cent to N1.83 trillion in 2025, the Minister, Adegboyega Oyetola, has said.
Oyetola disclosed this on Sunday in a three-year scorecard marking the ministry’s establishment by President Bola Tinubu in August 2023.
According to him, the 2025 figure represents a significant increase from the N700.7 billion recorded in 2023.
The minister, through his Special Adviser, Dr Bolaji Akinola, attributed the growth to regulatory reforms, stronger revenue assurance, digitisation and the closure of financial leakages.
“At the heart of our mandate is a simple but powerful objective: to turn Nigeria’s vast marine resources into sustainable economic value for Nigerians,” Oyetola said.
He said the ministry had moved to unlock the economic potential of Nigeria’s 853-kilometre coastline and inland waterways, positioning the marine and blue economy as a driver of revenue, trade, security and job creation.
Oyetola highlighted the approval in May 2025 of Nigeria’s first National Policy on Marine and Blue Economy as a major milestone.
He said the policy provides a unified framework for shipping, fisheries, offshore energy, marine biotechnology and other emerging opportunities.
“This policy gives us a clear roadmap. It provides the predictability and transparency investors need while ensuring that our marine resources are developed sustainably,” he said.
The minister added that the reforms had delivered measurable gains across port infrastructure, maritime security, regulation, indigenous shipping, human-capital development, fisheries and inland-waterway safety.
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