By 
By Elisha Chebwawaza Gideon
Minister targets $20bn annual revenue, 2 million jobs, port modernization, and maritime security reforms.
Nigeria has formally unveiled an ambitious Blue Economy Strategy designed to unlock an estimated $3 trillion in long-term value, generate $20 billion in annual revenue, and create over two million jobs, marking a decisive shift toward positioning the ocean as a central pillar of national economic growth.
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The strategy was presented by Adegboyega Oyetola, Minister of Marine and Blue Economy, at the Africa Forward Summit in Nairobi, where Nigeria made a strong case for deeper African collaboration on maritime sovereignty, security, and sustainable development.
Nigeria Takes Blue Economy Diplomacy to Africa Forward Summit
Oyetola spoke at a high-level panel focused on the Blue Economy, Maritime Sovereignty, and Sustainable Valorization. There, he outlined Nigeria’s investment blueprint alongside Catherine Chabaud, France’s Minister of the Sea and Fisheries. Other leading maritime stakeholders from across Africa also participated in the session.
The summit, co-hosted by William Ruto and Emmanuel Macron, with Bola Tinubu in attendance, marked a significant diplomatic moment. It reinforced Africa–Europe engagement on trade, security, and sustainable resource development.
A $3 Trillion Opportunity Beneath Nigeria’s Waters
Oyetola emphasized that Nigeria has moved beyond rhetoric to execution, following the creation of a dedicated Ministry of Marine and Blue Economy in August 2023, signaling a structural commitment to harnessing ocean-based resources as a primary growth frontier.
At the heart of this agenda is Nigeria’s first National Policy on Marine and Blue Economy, which provides the legal and operational framework to manage maritime assets sustainably while safeguarding national sovereignty.
Key Pillars of Nigeria’s Blue Economy Blueprint
1. Port Infrastructure Modernization
The Federal Government has secured $746 million to modernize strategic ports, including Apapa and Tin Can Island, while advancing new deep-sea and inland dry ports in Funtua, Moniya, and Jos. These upgrades aim to attract larger vessels and position Nigeria as the leading maritime hub in West and Central Africa.
2. Revenue Growth and Economic Impact
Maritime sector revenues surged from ₦700.79 billion in 2023 to ₦1.83 trillion by the 2025 fiscal year, underscoring the sector’s rising contribution to national income. The government is targeting parity with the oil and gas sector’s GDP contribution within four years.
3. Maritime Security and Zero Piracy Record
Nigeria’s Deep Blue Project will be expanded to sustain maritime safety and combat illegal activities. Notably, the country has recorded over four consecutive years of zero piracy incidents, reinforcing investor confidence.
4. Sustainable Sector Development
The blueprint prioritizes growth across:
- Maritime transport and logistics
- Fisheries, with production targeted to rise to 1.4 million tonnes
- Coastal and marine tourism
- Shipbuilding and repair
National Shipping Line and PPP Strategy
A major component of the plan is the re-establishment of a national shipping line through Public-Private Partnerships (PPPs), enabling Nigeria to capture a meaningful share of the $10 billion annual global ship charter market and strengthen local maritime capacity.
Reclaiming Maritime Sovereignty for Long-Term Growth
According to Oyetola, the blue economy framework is already delivering early milestones by aligning policy, infrastructure, security, and investment under a single national vision.
By deliberately valorizing its marine assets, Nigeria is transforming its waters into a sustainable economic engine capable of supporting growth, employment, and regional leadership for decades.
