On August 20, 2023, history was made in Nigeria’s maritime governance. That day, the Federal Government under President Bola Ahmed Tinubu GCFR formally birthed the Ministry of Marine and Blue Economy — a bold institutional innovation to harness the nation’s vast maritime resources as a driver of growth, jobs, and sustainable development. At the helm of this brand-new ministry was appointed a man known for his quiet efficiency, policy discipline, and unmatched integrity: His Excellency Adegboyega Isiaka Oyetola, CON.
Today, two years later, the Ministry is not just two years old — it is already a case study in what visionary leadership, strategic focus, and political will can achieve in a remarkably short period. From restoring sanity to Nigeria’s busiest seaports to unlocking long-frozen funds for indigenous shipowners, from pioneering human capital investments to spearheading continental maritime financing infrastructure, Oyetola has delivered transformation on a scale that is as monumental as it is measurable.
A Ministry Born of Vision
The idea of a standalone Ministry of Marine and Blue Economy was not an accident of bureaucracy; it was a deliberate decision under President Tinubu’s Renewed Hope Agenda to take the maritime sector out of the shadows and place it at the heart of economic diversification. Nigeria’s coastline stretches more than 850 kilometres, and its inland waterways span over 10,000 kilometres — yet for decades, these assets remained underutilised, fragmented, and constrained by policy neglect.
The “blue economy” — globally defined as the sustainable use of ocean resources for economic growth, improved livelihoods, and environmental health — offers Nigeria an ocean of possibilities: shipping, fisheries, tourism, offshore energy, marine biotechnology, and more. But vision alone does not deliver results; it takes leadership. In Minister Oyetola, Nigeria found a helmsman who could translate a bold concept into concrete impact.
Charting a New Course with Landmark Marine and Blue Economy Policy
In a historic stride for Nigeria, Minister Adegboyega Oyetola recently secured the approval of the Federal Executive Council (FEC) for the National Policy on Marine and Blue Economy, a groundbreaking framework developed by his Ministry. This policy, the first of its kind in Africa, positions Nigeria at the forefront of harnessing the vast opportunities of the blue economy and provides a clear roadmap for sustainable development, investment, and innovation across the nation’s maritime and marine resources. The policy’s significance lies in its capacity to broaden Nigeria’s economic base by opening new frontiers in shipping, fisheries, aquaculture, tourism, offshore energy, and maritime services, thereby reducing overreliance on crude oil. It is also designed to stimulate mass employment and foster the transfer of new skills and technologies, especially for coastal and riverine communities, while embedding the principles of environmental stewardship and resilience against climate change. By aligning Nigeria’s maritime sector with global standards, it enhances competitiveness and positions the country as an attractive destination for global partnerships. Crucially, the policy will galvanise private sector funds and attract foreign direct investment into the country for the development of critical maritime infrastructure, ensuring that the sector not only grows but becomes globally competitive and self-sustaining. Beyond its economic dimensions, the policy reinforces maritime security and governance, strengthening regulatory oversight, improving safety standards, and curbing illicit activities at sea. In doing so, it safeguards national sovereignty while building investor confidence. With this bold initiative, Oyetola has not only charted a transformative new course for Nigeria but has also set a continental precedent. The National Policy on Marine and Blue Economy is a visionary instrument of economic sovereignty, environmental responsibility, and shared prosperity that is set to redefine the future of Nigeria’s maritime sector.
Breaking the Apapa Gridlock Jinx
Perhaps nothing symbolised the old dysfunction more than the Apapa gridlock — a 20-year scourge of port access roads that strangled productivity, inflated costs, and discouraged foreign investors. Many had tried to fix it; all had failed. Yet under Oyetola’s watch, the nightmare ended. By fixing dilapidated port access roads, strengthening digital port access systems, restructuring traffic flows, introducing modern logistics management, and — critically — confronting entrenched vested interests, the once-immovable congestion melted away. The difference is visible: truck queues have disappeared, cargo evacuation is faster, haulage costs have crashed and business confidence has returned to the Lagos Port Complex and Tin-Can Island Port Complex, both in Apapa. This was not just a traffic win; it was an economic liberation.
Modernising Nigerian Ports for Economic Prosperity
In a landmark decision, the Federal Executive Council, acting on a memo submitted by Minister Oyetola, recently approved the comprehensive modernisation of two of Nigeria’s most vital maritime assets: the Lagos Port Complex, Apapa, and the Tin Can Island Port Complex. With a completion target of 48 months, this ambitious initiative addresses a long-standing challenge — the age and outdated infrastructure of these critical gateways. The Apapa Port, a centenarian, and the Tin Can Island Port, now 48 years old, have endured decades of service without major rehabilitation. While the Tin Can Island Port was originally conceived to alleviate the legendary 1975 “cement armada” crisis at Apapa, both ports have since struggled to keep pace with the exponential growth in trade volume and the advent of larger, more sophisticated vessel designs.
The full-scale upgrade of these ports is not just about aesthetic improvement; it is a strategic investment with profound economic and operational merits. By rehabilitating these national assets, Nigeria will unlock a new era of efficiency, significantly reducing vessel turnaround times and eliminating the persistent congestion that has long plagued port operations. This will translate into substantial cost savings for businesses, enhanced trade competitiveness, and a more predictable supply chain. Furthermore, the modernisation will enable the ports to handle larger container ships, thereby increasing their capacity and solidifying their role as key hubs for regional and international commerce.
Beyond this, the Minister is actively pursuing the establishment of new deep seaports in collaboration with state governments and the private sector. This forward-looking strategy follows the successful Lekki Deep Seaport project in Lagos, whose access road was recently commissioned by President Bola Tinubu. This successful blueprint serves as a model for future projects, ensuring Nigeria’s maritime infrastructure is not only modernised but also expanded to meet future demands.
Furthermore, rehabilitation plans are already underway for other ports outside Lagos, with the procurement process fully activated. These parallel initiatives underscore a holistic national strategy to revitalise Nigeria’s entire port system, ensuring that every economic gateway is equipped to support a more dynamic and prosperous blue economy.
Revenue Surge: From Billions to Trillions
Oyetola’s reforms have delivered record-breaking fiscal gains, transforming the maritime sector into a powerhouse of national revenue. In 2023, agencies under the ministry generated ₦700.79 billion, but by the close of 2024, that figure had almost doubled to an unprecedented ₦1.39 trillion — the highest in Nigeria’s maritime history. This remarkable surge was not the result of burdening operators with new costs, but of bold institutional reforms: tightening regulatory oversight, sealing revenue leakages, streamlining processes, and embracing modernisation. The outcome was unmistakable — Nigeria’s maritime industry has shed its old reputation as a dormant backwater and emerged as a strategic pillar of economic resilience and growth.
The CVFF Breakthrough — Empowering Indigenous Shipping
For more than twenty years, the Cabotage Vessel Financing Fund (CVFF) — created to empower Nigerian shipowners with access to vital vessel financing — languished in bureaucratic paralysis. Oyetola has now shattered that inertia. The Minister has directed the Nigerian Maritime Administration and Safety Agency (NIMASA) to set the long-awaited disbursement in motion, offering indigenous shipowners a lifeline to expand their fleets and challenge foreign dominance in Nigeria’s waters. With improved indigenous capacity, the Minister has pledged to dismantle the entrenched culture of arbitrary waivers that for years diverted lucrative coastal shipping contracts to foreign firms while sidelining Nigerians. This is more than reform — it is economic sovereignty in practice: a bold recalibration of policy that secures opportunities for Nigerian operators, safeguards Nigerian jobs, and builds enduring Nigerian capacity.
Recalibrating Nigeria’s National Shipping Capacity
In another bold strategic move, the administration is poised to launch a national shipping carrier, through a robust public-private partnership that promises to redefine Nigeria’s maritime future. Minister Oyetola’s foresight is clear: true maritime power rests on a nation’s ability to command its own seas and carry its own goods. To this end, he set up the National Flag Carrier Technical Committee, tasked with establishing a formidable, private-sector-led national shipping line. As with the planned disbursement of the Cabotage Vessel Financing Fund (CVFF), this ambitious initiative is more than a policy; it is an economic declaration. Oyetola’s vision aims to recapture the billions in freight revenue currently lost to foreign shipping companies, generate thousands of jobs for Nigerians, and firmly anchor Nigeria as the unrivaled maritime hub of the West and Central African region. The Minister’s move is a generational commitment to national self-reliance and the retention of economic prosperity within our borders.
A Bold Vision to Boost Fish Production
For too long, Nigeria has forfeited a significant portion of its economy to other nations through the unbridled importation of fish, a practice that costs the country an estimated $1.26 billion annually in hard-earned foreign exchange. This dependence has not only drained national resources but has also exported countless jobs that could have been created domestically. In a determined move to reverse this trend, Minister Adegboyega Oyetola has launched a bold initiative to aggressively boost local fish production and end Nigeria’s reliance on foreign imports. During a recent high-level consultative meeting with key fisheries cooperative groups, the Minister laid out a visionary plan to transform the nation’s aquaculture sector into a powerhouse of food security, employment, and export competitiveness. Declaring that “Nigeria must chart a new course towards self-sufficiency in fish production,” Oyetola affirmed the Federal Government’s strong commitment to supporting the sector through robust policies, technical expertise, and financial inclusion. He vowed to significantly scale up domestic fish production, repositioning the industry for sustainable growth. The interactive meeting, which gathered leaders from major associations including the Fisheries Cooperative Federation of Nigeria (FCFN), Tilapia Aquaculture Developers Association of Nigeria (TADAN), and the Catfish Farmers Association of Nigeria (CAFAN), underscored a collaborative approach to this national challenge. Furthermore, Oyetola announced that the Ministry is intensifying efforts to empower women and youth in the fishing sector, with start-up grants and other empowerment initiatives already in the pipeline. This move is a strategic alignment with President Bola Ahmed Tinubu’s Renewed Hope Agenda, which prioritises youth engagement and economic diversification as key drivers of national prosperity.
A New Era for Waterway Safety
For years, Nigeria’s waterways were synonymous with preventable tragedy, a grim reality born of inadequate safety measures that predated the current administration. However, since his assumption of office, Minister Adegboyega Oyetola has taken a resolute stand, committing to end the cycle of fatalities on Nigeria’s waters. His proactive leadership is now yielding tangible results. A cornerstone of his initiative is the nationwide distribution of 42,000 life jackets to waterway users across 28 riverine states. This measure is a direct response to the alarming rate of boat mishaps and the tragic loss of life. Its impact was recently lauded by the Niger State Ministry of Transportation, which commended Minister Oyetola for his donation of 3,500 life jackets to the state. As a testament to the programme’s effectiveness, the Ministry noted a recent boat mishap where all nine passengers survived because they were wearing the life jackets provided by the Minister. This incident serves as a powerful demonstration of how a simple piece of safety equipment can be the difference between life and death.
In a further bold step towards a new era of maritime safety, the Minister officially received the report of the Special Committee on the Prevention of Boat Mishaps in Nigeria on 1st August 2025. Vowing to implement sweeping reforms, Oyetola reiterated the government’s unwavering commitment to making Nigerian waters safe for all. He declared that the current spate of boat mishaps is both unacceptable and preventable, and must be tackled through a blend of policy enforcement, stakeholder cooperation, and behavioural change. This comprehensive approach signals a new, zero-tolerance stance on waterway fatalities, ensuring that every journey is undertaken with the highest possible level of safety.
Ceberating Three Years of Zero Piracy
For years, Nigeria’s maritime domain was marred by the threat of piracy and attacks against ships, a dangerous reality that severely impacted trade and inflated the cost of shipping to the country. The imposition of a “war risk surcharge” by international insurers was a punitive measure that burdened businesses and stifled economic growth. However, a new chapter has been written under the leadership of Minister Adegboyega Oyetola. His decisive consolidation of the Deep Blue Project has yielded unprecedented results: a remarkable three consecutive years with zero piracy incidents in Nigeria’s waters. This success has also led to a significant reduction in attacks across the wider Gulf of Guinea, transforming one of the world’s most perilous shipping lanes into a far safer corridor. This monumental achievement has garnered international acclaim from prestigious global bodies such as the International Maritime Bureau (IMB) and the International Maritime Organization (IMO). In a landmark recognition of Nigeria’s enhanced security, the country has been officially removed from the list of maritime high-risk zones.
The benefits of this achievement are profound and far-reaching. The end to attacks against ships has led to a dramatic reduction in insurance premiums and shipping costs, making Nigeria a more attractive destination for international trade. This is expected to stimulate a surge in shipping traffic and foreign investment, while also lowering the cost of imported goods for the average Nigerian. Ultimately, Oyetola’s unwavering commitment to maritime security has not only protected lives and property but has also unlocked a new era of economic prosperity and international confidence in Nigeria’s blue economy.
₦200,000 Minimum Wage For Maritime Workers
For years, Nigerian workers in the shipping sector were subjected to a cycle of exploitation, with foreign companies capitalising on the absence of a regulated wage structure to offer paltry salaries. This chronic underpayment stifled the livelihoods of thousands of workers and undermined the dignity of labour within a crucial economic sector. However, a new era has dawned under the leadership of Minister Adegboyega Oyetola. In a historic intervention, the Minister, through a landmark partnership midwifed by the Nigerian Shippers’ Council, brought together the Maritime Workers Union of Nigeria (MWUN) and the Shipping Agencies, Clearing and Forwarding Employers Association (SACFEA). This collaboration led to an unprecedented agreement in August 2024, which approved a ₦200,000 minimum wage for maritime workers employed by SACFEA-member companies. This historic agreement is a major victory for the Nigerian worker and a testament to the Minister’s commitment to social justice. The new ₦200,000 wage, which is almost three times the national minimum wage, provides a crucial lifeline, ensuring that workers are no longer exploited but are instead fairly compensated for their vital contributions to the nation’s economy. This landmark decision not only uplifts the standard of living for countless families but also sets a new benchmark for labour practices, fostering greater dignity and stability within the entire maritime industry.
Championing the Regional Maritime Development Bank
In a move that transcends national boundaries, Minister Adegboyega Oyetola is actively shaping the future of African maritime affairs. His unwavering commitment as the champion of the Regional Maritime Development Bank (RMDB) has been the driving force behind the operationalisation of this long-envisioned financial institution. Dedicated to financing shipping, port modernisation, and critical maritime infrastructure, the RMDB is set to be a cornerstone of the continent’s blue economy. The recent appointment by President Tinubu of a seasoned administrator and banker, Mr. Adeniran Aderogba, as the pioneer President/CEO marks a pivotal moment in the RMDB’s journey. With its headquarters in Nigeria, and under Oyetola’s persistent advocacy, the bank is now poised to unlock affordable financing for shipowners, modern port facilities, and innovative projects across Nigeria and all Maritime Organisation of West and Central Africa (MOWCA) member states. This initiative is a powerful statement of self-reliance, positioning Nigeria as the definitive leader in continental maritime finance. It ensures that Africa is no longer exclusively dependent on foreign capital to cultivate its shipping and port capacity, but instead takes command of its own economic destiny.
Nigeria’s Bid for Global Maritime Leadership
Minister Adegboyega Oyetola is also leading a vigorous ‘door-to-door’ diplomatic campaign to secure Nigeria’s re-election into Category C of the International Maritime Organisation (IMO) Council. The IMO is the United Nations’ specialised agency responsible for the safety and security of shipping and the prevention of marine pollution by ships. Oyetola formally launched the campaign in June 2025 at the IMO Headquarters in London, and has since engaged in high-level bilateral meetings with maritime leaders from many countries. Nigeria’s re-election to the IMO Council will provide significant benefits for both the country and the African continent. A seat on the council allows Nigeria to actively participate in and influence the formulation of international maritime policies on safety, security, and environmental protection, ensuring that the interests of Nigeria and the wider West African sub-region are represented in global decision-making. Furthermore, IMO Council membership elevates Nigeria’s position on the global stage, reinforcing its role as a key player in maritime affairs and helping to attract foreign investment by signalling stability and adherence to international standards. The council seat can also lead to enhanced technical cooperation, funding, and training opportunities for Nigeria, which can improve local capacity in areas like ship safety inspections, seafarer training, and port modernisation. By holding a seat in Category C, which is designed to ensure equitable geographic representation, Nigeria serves as a voice for African nations, particularly in the West and Central Africa region. This allows the country to advocate for regional priorities and foster greater intra-African maritime trade and development.
Recognition and National Impact
Minister Adegboyega Oyetola’s bold and transformative reforms within the marine and blue economy sector have not gone unnoticed. In a resounding validation of his leadership, the Ministry of Marine and Blue Economy was recently named the Best Performing Ministry by the Presidential Enabling Business Environment Council (PEBEC). This prestigious accolade is a direct testament to Oyetola’s disciplined, data-driven, and results-oriented governance style. The Ministry’s success is rooted in its proactive and inclusive approach. It has consistently engaged with stakeholders through regular meetings, ensuring their invaluable input is not just heard but actively implemented. This collaborative spirit has been reflected in the Ministry’s remarkable performance, which was scored 96% in the first quarter of 2025 in the rigorous assessment conducted by the Central Results Delivery Coordination Unit (CRDCU). This outstanding result underscores the Minister’s unwavering commitment to efficiency, accountability, and achieving President Tinubu’s strategic vision for the marine and blue economy sector with precision and excellence.
The Oyetola Legacy in Motion
In just 24 months, Oyetola has transformed a newborn ministry into one of the most productive engines of Nigeria’s economic diversification. He has tackled problems that were once thought intractable, built institutions that will endure, and championed policies that place Nigeria at the heart of Africa’s maritime future. As President Tinubu’s Renewed Hope Agenda sails into its third year, the winds are favourable and the waters are calm — because at the helm is a minister who knows both the map and the tide. Adegboyega Oyetola has not only changed the course of Nigeria’s marine and blue economy; he has changed the pace at which history is written.
