The 2025 budget session of the Ministry of Marine and Blue Economy, held on Wednesday, brought together key stakeholders to align the sector’s financial strategy with Nigeria’s overarching goals for sustainable development and economic diversification.
Presiding over the session, the Minister of Marine and Blue Economy, Adegboyega Oyetola, emphasised the need for budget proposals that prioritise impactful initiatives in line with the National Policy on Marine and Blue Economy and the 2021–2025 National Development Plan.
“Our fiscal strategy must not only address immediate needs but also reflect the ambitions outlined in our policy framework,” Oyetola said. “We are tasked with ensuring that every naira allocated delivers a measurable impact on the sector and the nation.”
The session focused on strategic priorities aimed at unlocking the potential of the marine and blue economy, identified as a critical driver of job creation, economic diversification, and environmental sustainability.
Key proposals discussed included investments in maritime security, aquaculture and fishing port capacity, combating illegal and unregulated fishing, advancing oceanographic research, renewable marine energy, and climate resilience technologies.
The minister reiterated the importance of the draft National Policy on Marine and Blue Economy, describing it as a guiding document for sustainable marine resource management and Nigeria’s compliance with international best practices, including Sustainable Development Goal (SDG) 14.
“This policy serves as our roadmap for leveraging marine resources responsibly while advancing climate adaptation and technological innovation,” he said.
Oyetola urged agencies to adopt a transparent and fiscally prudent approach to the budget process, ensuring that the 2025 financial plan serves as a catalyst for sustainable growth and long-term national development.
Present at the session were leaders from major agencies, including the Nigerian Ports Authority, Nigerian Maritime Administration and Safety Agency, National Inland Waterways Authority, and Nigerian Shippers’ Council.
The minister expressed confidence that the collective efforts and shared commitment of all participants would result in a 2025 budget that effectively supports the marine and blue economy’s role in Nigeria’s economic transformation.
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