Maritime sector, top economic priority, says Oyetola

• Nigeria eyes IMO Council seat for global maritime leadership
• NIMASA seeks $150b to bridge ocean funding gap

The Minister of Marine and Blue Economy, Adegboyega Oyetola, has yet declared the country’s intent to return to Category C of the International Maritime Organisation (IMO) Council, framing it as a crucial step to assume a greater role in global maritime governance.
He said the move would cement Nigeria’s influence in shaping global maritime decisions, while positioning the domestic maritime sector as a cornerstone for reducing reliance on oil and gas through diversification and blue economy growth.
Oyetola made the remarks in Lagos at the 2025 World Maritime Day celebration, themed “Our Ocean, Our Obligation, Our Opportunity.”
He stressed that the nation is stepping up its push for global maritime leadership with bold commitments to ocean stewardship, modernising port infrastructure, strengthening international cooperation, and unlocking the vast opportunities of the blue economy to drive sustainable development.
Highlighting the vital role of the ocean, Oyetola noted that it covers over 70 per cent of the earth’s surface, produces up to 80 per cent of the planet’s oxygen, and carries more than 80 per cent of global trade. Yet, he warned, it faces growing threats from climate change, overfishing, pollution, and neglect.

“The message is clear: we must be stewards, not exploiters,” he said, pledging stronger action on sustainable fishing, marine pollution, biodiversity protection, and maritime safety and security.
The minister described the blue economy as a “new frontier of innovation, prosperity and inclusive growth,” with opportunities spanning renewable energy, marine biotechnology, and sustainable aquaculture. He called for stronger collaboration with the international community, extending “a special invitation to members of the diplomatic community,” and commended agencies under his ministry for their contributions to President Bola Tinubu’s Renewed Hope Agenda.
In his goodwill message, NIMASA Director-General, Dr Dayo Mobereola, reinforced the ocean’s importance to Nigeria’s economy and sovereignty.
“For us, the ocean is the lifeblood of our nation, the gateway for over 80 per cent of our trade, and a reservoir of immense biodiversity and resources. Its health dictates our climate, its security defines our sovereignty, and its potential holds the key to our future,” he said.
Mobereola highlighted Nigeria’s Marine Litter and Plastic Action Plan, alongside efforts to implement IMO frameworks for a healthy marine environment. He also pressed for fairness in the global transition to net-zero emissions.
“We are strongly advocating for a just and equitable transition to net-zero Greenhouse Gas emissions for Sub-Saharan Africa, Small Island Developing States and Least Developed Countries to ensure fairness and social justice,” he stated.
On security, the NIMASA boss pointed to the Deep Blue Project as “a game changer in addressing maritime security in Nigeria and the Gulf of Guinea.” He outlined investment opportunities in fisheries, aquaculture, renewable energy, shipbuilding, tourism, and port infrastructure, but warned that funding shortfalls remain.
“According to the World Bank, Sustainable Development Goal 14 (Life Below Water) is one of the most poorly funded SDGs, with an annual financing gap of approximately $150 billion. Public funding will never be enough to close the gaps,” Mobereola said, urging private sector participation supported by incentives and de-risking mechanisms.
Both Oyetola and Mobereola closed with a call for collective responsibility in safeguarding ocean resources. As Oyetola put it: “Our obligation is to safeguard it. Our opportunity is to transform it for the benefit of generations to come.”
The 2025 World Maritime Day celebration in Lagos drew maritime stakeholders, diplomats, and industry leaders, underscoring the country’s ambition to strengthen its blue economy, enhance maritime security, and assert its leadership on the global maritime stage.