On Air Now

Intimacy Klinic

10:00pm - Midnight

Oyetola: Blue Economy Key to Nigeria’s Diversification Beyond Oil

Minister of Marine and Blue Economy, Adegboyega Oyetola, has called for renewed global commitment to safeguarding the ocean while positioning Nigeria’s blue economy as a key driver of sustainable growth.

Speaking on Thursday at the 2025 World Maritime Day celebration held at Eko Hotel and Suites, Victoria Island, Lagos, Oyetola said this year’s theme, “Our Ocean, Our Obligation, Our Opportunity,” underscores the urgent need for collective action in addressing threats to the world’s oceans and unlocking their vast potential.

“The ocean, covering more than 70 percent of our planet, produces up to 80 percent of the Earth’s oxygen, sustains billions of livelihoods, and carries over 80 percent of global trade.

"Yet it is under mounting threat from pollution, overfishing, climate change, and neglect. The message is clear: we must be stewards, not exploiters,” the minister said.

Highlighting the progress under President Bola Tinubu’s Renewed Hope Agenda, Oyetola cited recent efforts to modernise port infrastructure, improve maritime safety, and encourage private sector participation in shipbuilding and shipping services.

He added that Nigeria is working closely with the Nigerian Navy, Nigerian Maritime Administration and Safety Agency (NIMASA), and other agencies to strengthen security in the Gulf of Guinea, which has long been plagued by piracy.

He stressed that the blue economy could open new frontiers of growth for Nigeria, especially in renewable ocean energy, fisheries, aquaculture, and marine biotechnology.

According to him, the sector has the potential to generate millions of jobs, attract foreign investment, and boost foreign exchange earnings if properly harnessed.

“From renewable ocean energy and marine biotechnology to sustainable aquaculture, the opportunities are vast. Our vision is to harness these possibilities to make the sector a leading contributor to Nigeria’s economy,” he said.

The minister also extended a special invitation to the diplomatic community and global partners, describing maritime affairs as a natural platform for international diplomacy and cooperation. 

“No nation can protect the oceans in isolation. Partnerships and global solidarity remain the strongest anchors for sustainable development,” he added.

In his goodwill message, the Director-General of NIMASA, Dr. Dayo Mobereola, pledged the agency’s support in promoting sustainable shipping, tackling marine pollution, and advancing Nigeria’s compliance with International Maritime Organization (IMO) standards.

Stakeholders from the Nigerian Ports Authority (NPA), Nigerian Navy, Shippers’ Council, and various private operators also reaffirmed their commitment to supporting government initiatives aimed at repositioning Nigeria as a leading maritime hub in Africa.


Weather

  • Lagos Weather

    Light rain

    High: 30°C | Low: 24°C