Nigeria's Maritime Sector Generates N1.83 Trillion in 2025

Dr. Adegboyega Oyetola, the Minister of Marine and Blue Economy, reported that Nigeria's maritime sector generated N1.83 trillion in 2025, marking a 160% increase from the N700.79 billion recorded in 2023. He emphasized the importance of indigenous shipping capacity and announced plans to revive a national shipping carrier through a Public-private Partnership (PPP).

The disbursement process for the Cabotage Vessel Financing Fund (CVFF) has also commenced to assist Nigerian shipowners in acquiring modern vessels. Oyetola attributed the revenue increase to regulatory reforms, digitization, and the closure of financial leakages.

He highlighted the approval of Nigeria's first National Policy on Marine and Blue Economy in May 2025, which aims to unify the sector's approach. The minister also discussed the ambitious modernization of Nigeria's major seaports, including Apapa and Tin Can Island, to attract larger vessels and improve cargo-handling infrastructure.

Oyetola noted that ongoing reforms have gained international recognition, with Tin Can Island Port and Lagos Port Complex ranked among the world's most improved container ports.