Nigeria’s maritime sector is undergoing major reforms as the Federal Government targets an estimated $3 trillion potential in the blue economy. The Minister of Marine and Blue Economy, Gboyega Oyetola, made this known at the Blue Economy Investment Summit in Abuja, where he said security improvements and port reforms are repositioning the sector for global competitiveness.
The minister highlighted the end of piracy incidents for over four years, achieved through the Deep Blue Programme, and the clearance of long-standing congestion at the Apapa Port in Lagos. He said these gains have strengthened confidence in Nigeria’s maritime space and created a stable foundation for ongoing reforms.
According to the minister, the Federal Government has secured $746 million to modernise the Apapa and Tin Can Island ports, with implementation expected to begin this quarter. He also noted a rise in revenue from agencies under the ministry, which grew from N700.79 billion in 2023 to about N1.83 trillion in 2025, driven by automation and improved regulation.
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Stakeholders, including Executive Secretary of the Nigerian Shippers’ Council, Pius Akutah, and Chief Executive Officer of APM Terminals Nigeria, Frederik Klinke, called for improved logistics, deeper port channels, and regulatory consistency to boost competitiveness.
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