Nigeria’s Minister of Marine and Blue Economy, Dr Adegboyega Oyetola, has urged the nation’s shipowners to close ranks and work collectively to drive growth in the maritime sector, describing collaboration as essential to unlocking the country’s blue economy potential.
Speaking at the opening of the Nigerian Maritime Expo (NIMAREX) 2025 in Lagos on Monday, Oyetola, who was represented by the Senior Special Adviser to the President on Marine and Blue Economy, Professor Busayo Fakinlede, said Nigeria could only achieve a globally competitive maritime industry if operators aligned their efforts with ongoing government reforms.
He stressed that shared ambition, rather than fragmented interests, would determine the sector’s long-term success.
The Minister highlighted significant government achievements since the creation of the Marine and Blue Economy Ministry in 2023, including the launch of Africa’s first National Policy on Marine and Blue Economy and Presidential approval for the modernisation of the Lagos and Tin Can Island port complexes. He also pointed to progress in the procurement process for upgrading the eastern ports, improved revenue generation, record gains in fisheries output, and the elimination of piracy in Nigerian waters for three consecutive years.
Despite these strides, he said Nigeria remained far from fully harnessing opportunities across shipping, aquaculture, ocean energy, maritime services and coastal tourism.
He insisted that indigenous shipowners must play a decisive role, particularly as the government advances plans for a private-sector-led national carrier to increase Nigeria’s share of global cargo movement.
Dr Oyetola described the maritime sector as a strategic national asset capable of reducing dependence on crude oil and expanding employment opportunities, but only if operators work “collaboratively for the sustainable growth of our nation’s maritime and blue economy.”
Declaring NIMAREX 2025 open, he urged participants to turn dialogue into tangible investment and partnerships, stating that collective action would determine whether Nigeria secures its place as a continental leader in the blue economy.
During her lead paper presentation, the Advisor on Blue Economy to the President of Kenya, Ambassador Nancy Karigithu, noted that the activities of Kenya’s Marine and Blue Economy Ministry cut across more than 22 other ministries, underscoring the need for an inter-ministerial committee to ensure seamless operations. She also highlighted the importance of sustainable planning across the sector, particularly in fisheries and aquaculture.
The Chairman of the occasion and Olubadan of Ibadan Land, Oba Rashidi Adewolu Ladoja, said the shipping industry holds vast potential to create jobs for Nigeria’s youth and transform the economy.
The monarch, founder and former CEO of the defunct Real Shipping Company, lamented that Nigerian operators were still “feeding on crumbs,” unable to play competitively in global shipping.
Recalling the vibrant early years of NIMAREX, he pledged financial and intellectual support to ensure the sustainability of its revival.
In his welcome remarks, the Chairman of the NIMAREX 2025 Planning Committee, Otunba Sola Adewumi, described the expo’s relaunch as the renewal of a long-standing industry vision to unify public and private maritime stakeholders.
He said the event’s comeback reflects the resilience of the sector and its continued relevance to Nigeria’s economic future.
Adewumi commended President Bola Ahmed Tinubu for creating the Marine and Blue Economy Ministry, and applauded Minister Oyetola for backing the expo’s revival.
He called on government agencies, operators, investors and international partners to support the renewed drive toward maritime expansion and global competitiveness.
A notable moment at the event was the posthumous award presented to Nigeria’s first indigenous shipowner, the late Alhaji Wahab Folawiyo.