By Fatima Saka
The Minister of Marine and Blue Economy, Adegboyega Oyetola, has called for increased funding to drive the ministry’s 2025 budget, emphasizing the need for greater investment in maritime infrastructure, fisheries, and safety initiatives.
The proposed budget includes a capital allocation of N11.77 billion and an overhead budget of N453.86 million.
Oyetola described these figures as inadequate and urged the Senate and House Committees to approve additional funds to effectively execute the ministry’s mandate.
Speaking before the Joint Senate Committee on Marine Transport and the House Committees on Ports and Harbour, Maritime Safety, Education, Administration, Inland Waterways, and Shipping Services, Oyetola stressed the importance of strategic investments to address critical gaps in the sector.
On fisheries and aquaculture, the minister outlined projects aimed at boosting fish production to enhance food security and economic growth. He noted that these initiatives are closely tied to capital budgets to ensure swift implementation.
“The 2025 budget, tagged ‘Budget of Restoration: Securing Peace, Rebuilding Prosperity,’ aims to consolidate past achievements while tackling issues such as decayed infrastructure, silted river courses, inadequate fish production, and unsafe watercraft,” Oyetola said.
“The proposed capital budget of N11.77 billion and overhead of N453.86 million, while a step in the right direction, remains insufficient. A greater budgetary provision is essential for the ministry to achieve its full potential.”
Oyetola also highlighted the contributions of self-funding agencies under the ministry, including the Nigerian Ports Authority (NPA), Nigerian Maritime Administration and Safety Agency (NIMASA), and Nigerian Shippers’ Council (NSC), which significantly boost the Consolidated Revenue Fund. However, he emphasized the need for enhanced financial support for other agencies, such as the National Inland Waterways Authority (NIWA), Maritime Academy of Nigeria, and the Fisheries and Aquaculture Department.
Addressing safety concerns on inland waterways, Oyetola pointed to the rising number of boat mishaps due to increased water traffic. To mitigate this, the ministry plans to:
Distribute life jackets to riverine communities.
Replace dilapidated wooden boats with standardized crafts.
Undertake capital dredging at strategic river locations in 2025.
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He provided updates on dry port projects in Ijebu-Ode, Ogun State, and Moniya, Oyo State, which aim to decongest the Western Port System. “Design consultancies for these projects are ongoing, and we are working towards fast-track delivery,” he assured.
Reflecting on 2024 milestones, Oyetola celebrated the completion of Nigeria’s National Blue Economy Strategy, Fisheries and Aquaculture Policy, and a Strategic Roadmap for the Blue Economy. These foundational documents, he said, provide a strong policy framework for the ministry’s operations.
He commended the legislature’s past support and urged continued collaboration to ensure the ministry maximizes the country’s blue economy potential.
“I sincerely count on your understanding and support as we work towards building enduring structures for Nigeria’s marine and blue economy,” he appealed.
The Senate and House Committees are expected to review the proposals as part of the ongoing 2025 budget defence process.
