Nigeria's Marine Economy Revenue Reaches N1.83 Trillion

In 2025, revenue generated by agencies under Nigeria's Marine and Blue Economy sector hit a record N1.83 trillion, marking a 160% increase from N700.79 billion in 2023. Adegboyega Oyetola, the Minister of Marine and Blue Economy, presented these figures while outlining the ministry's three-year scorecard, which included reforms in ports, shipping, maritime security, and fisheries.

Oyetola attributed this revenue growth to regulatory reforms, improved revenue assurance, digitization, and efforts to eliminate financial leakages. A significant reform was the approval of Nigeria's first National Policy on Marine and Blue Economy in May 2025, aimed at providing a framework for sustainable development in shipping and fisheries.

The government is also modernizing ports, including the Lagos Port Complex and Tin Can Island Port, which were ranked among the world's most improved container ports. Additionally, interventions by the ministry have saved port users over N86 billion in unjustified demurrage.