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Nigerian economyBusiness

Federal Government Reiterates Commitment To Harness Full Potentials Of Marine Economy

Deji Ogunsola
Last updated: February 26, 2025 11:01 pm
By Deji Ogunsola
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2 Min Read
Marine economy contributes to U.S. GDP 1
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The Minister of Marine and Blue Economy, Adegboyega Oyetola, says his ministry has taken strategic steps towards unlocking Nigeria’s vast maritime potential beyond oil and gas.

Oyetola said this in Enugu, stressing that the ministry and its agencies were implementing programmes in marine environmental protection, in order to combat pollution and preserve aquatic ecosystems.

9News Nigeria reports that part of his words were; “As we chart this new course, sustainable practices, environmental stewardship, and inclusive community engagement must remain at the core of our initiatives.

“In line with this, the ministry has taken deliberate steps to strengthen the regulatory, legal, institutional and policy frameworks for the management and development of the sector.

“We have painstakingly devoted attention to the crafting of a sound policy framework to govern and direct the sector. “We have ensured that both the process and outcomes are given diligent attention. Our approach has been to guarantee a comprehensive and holistic National Policy for the Marine and Blue Economy,” he said.

According to him, President Bola Tinubu is committed to harnessing the full potential of the marine economy for job creation and economic prosperity.

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Oyetola therefore noted that the ministry was leveraging private sector resources and technology to drive an agenda aimed at modernising the infrastructure and systems in Nigeria.

“Some of the initiatives included modernisation and reconstruction of the Western and Eastern Ports. This effort is expected to generate over 20,000 direct employment opportunities. “Facilitation of the development of Fish Terminal/Harbour, Inland Dry Ports, modern shipyards, the establishment of a National Shipping Carrier, a host of digital platforms for the management of sector transactions; all through private sector led initiatives,” he added.

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