Nigeria’s maritime sector has recorded a surge in government revenue, port investment and shipping activity since the creation of a dedicated Ministry of Marine and Blue Economy, according to sector stakeholders assessing President Bola Tinubu’s first three years in office.
Special Adviser to the Minister of Marine and Blue Economy, Dr Bolaji Akinola, said agencies under the ministry generated N1.83 trillion in 2025, up from N700.79 billion in 2023.
He attributed the increase to digitisation, revenue assurance measures and efforts by the Minister of Marine and Blue Economy, Dr Adegboyega Oyetola, to close leakages.
The ministry was created in August 2023, with maritime stakeholders crediting the move with giving greater policy focus to Nigeria’s 853-kilometre coastline and inland waterways.
Akinola said the Federal Executive Council’s approval of Nigeria’s first National Policy on Marine and Blue Economy in May 2025 had provided a framework for the sector, while major port modernisation works were launched after decades of limited investment.
He also pointed to improvements in container-port performance, saying the World Bank and S&P Global ranked Tin Can 10th and Apapa 12th among the world’s 20 most improved container ports.
Nigeria also regained its International Maritime Organisation Category C Council seat in November 2025 after a 14-year absence, while the government says the country has recorded four consecutive years without a reported piracy incident.
Akinola attributed the security gains to the Deep Blue Project, satellite surveillance and increased patrols, which he said had also helped reduce shipping-related surcharges.
Other measures highlighted include the lifting of a 12-year US Coast Guard Condition of Entry following compliance with the International Ship and Port Facility Security Code, the planned revival of a national shipping carrier and the planned disbursement of the long-dormant Cabotage Vessel Financing Fund.
He said the Federal Government has also backed development of proposed deep-sea ports in Ibom, Bakassi, Agge, Ondo, Badagry and Bonny through public-private partnerships.
Akinola said seafarer training had expanded, with 333 National Seafarers Development Programme cadets graduating, 135 obtaining Certificates of Competency and thousands securing placements for sea time and onboard training.
On the inland waterways, the Special Adviser said the ministry has distributed 3,500 life jackets, established a committee on boat mishaps and is pushing for the replacement wooden boats with fibreglass vessels.
The Ministry has also commissioned new marine equipment, including tugboats, pilot cutters and dredgers, to improve port operations and safety.
Also speaking, President of the Shippers’ Association Lagos (SALS), Rev Nicodemus Odolo, commended President Bola Tinubu for creating the ministry, and hailed the planned establishment of a national shipping line to strengthen Nigeria’s position as a regional maritime hub.