Blue Economy
Nigeria’s Blue Economy Horizon: How Coastal Tourism, Fisheries and Port Reform Are Charting a New Course
Nigeria’s Blue Economy Horizon: How Coastal Tourism, Fisheries and Port Reform Are Charting a New Course
By Okeoghene Onoriobe, Research Reporter | Waterways News, Lagos | www.waterwaysnews.ng
Nigeria stands at a defining maritime crossroads. With a sprawling 853-kilometre Atlantic coastline and a vast Exclusive Economic Zone, the country is quietly engineering one of its most ambitious economic pivots in decades — away from the volatility of crude oil and towards the boundless potential of the sea.
The blue economy, broadly valued at over $296 billion, is no longer a distant policy aspiration. It is fast becoming the centrepiece of Nigeria’s post-oil diversification strategy, and for communities along the nation’s waterways, the implications could be transformative.
A New Ministry, A New Direction
The establishment of the Federal Ministry of Marine and Blue Economy in 2023 marked a watershed moment in Nigeria’s maritime governance. Unlike the capital-intensive architecture of the oil industry, the blue economy is fundamentally people-driven — spanning fisheries, aquaculture, shipbuilding, port logistics, coastal tourism, and emerging offshore renewable energy. For the millions of Nigerians living along rivers, creeks, and coastlines, this shift represents a real opportunity.
Coastal Tourism: From Overlooked to In-Demand
Nigeria’s beaches and Atlantic heritage sites are being deliberately repositioned as global eco-tourism destinations. Analysts and government planners alike project a significant surge in marine leisure and coastal hospitality — one that could attract foreign currency earnings and generate hundreds of thousands of jobs in travel and tourism.
The vision is straightforward: develop world-class resorts and maritime recreational facilities along the coastline, transforming what has long been an underutilised national asset into a high-value economic engine that rivals traditional export sectors.
Seafarers, Engineers and the New Maritime Workforce
Massive investment in human capital is central to the blue economy agenda. Through the expansion of the National Seafarers Development Programme, a new generation of maritime professionals is being trained to global standards — equipping young Nigerians for careers in shipping, logistics, and marine engineering.
Infrastructure is following suit. The Lekki Deep Sea Port, now operational, is expected to catalyse broader industrial development along the Lagos corridor, opening pathways to sustainable livelihoods for coastal and riverine communities that have historically been left behind by mainland economic growth.
Fisheries: Closing the Deficit, Feeding the Continent
Nigeria currently imports significant volumes of fish to bridge a persistent local production gap. The National Blue Economy Policy is targeting a reversal of this trend by supporting indigenous aquaculture businesses and modernising fishing fleets across riverine states.
Done right, stakeholders say Nigeria could transition from a net importer to a net exporter of seafood — strengthening national food security while opening new continental market opportunities.
Port Modernisation: Clearing the Bottleneck
For years, chronic congestion at Apapa and Tin Can Island ports has been a drag on Nigeria’s trade competitiveness. Ongoing rehabilitation efforts, combined with the National Single Window Project — a digitisation initiative aimed at reducing bureaucratic friction and improving transparency — are projected to significantly boost maritime revenue and turnaround times for international cargo.
These reforms are seen as foundational: without efficient ports, the broader ambitions of the blue economy cannot be realised.
Offshore Energy: The Sea as a Power Source
Beyond trade and tourism, Nigeria is also investigating the ocean as a source of clean energy. Offshore wind and tidal energy projects are being explored as viable complements to the national grid, aligning Nigeria’s maritime expansion with its Paris Agreement commitments and broader sustainability goals.
It is an acknowledgement that the blue economy must grow responsibly — generating wealth without repeating the environmental mistakes of the oil era.
As Nigeria looks beyond petroleum, the waterways that have long defined the nation’s geography may yet define its economic future. For coastal communities, maritime workers, and investors watching from the sidelines, the tide appears to be turning.
NIMASA Receives Over 60 CVFF Applications, Vows Open and Accountable Disbursement
By Okeoghene Onoriobe | Waterways News Correspondent | Lagos
The Nigerian Maritime Administration and Safety Agency (NIMASA) has disclosed that it has received more than 60 applications for the Cabotage Vessel Financing Fund (CVFF), a development that signals fresh momentum in the push to strengthen indigenous participation in Nigeria’s shipping sector.
The agency equally assured stakeholders that the disbursement of the fund would be handled transparently, with strict accountability measures guiding every step of the process.
The disclosure came on Thursday in Lagos, during the signing of the 2026 Performance Bond between NIMASA’s Director-General, Dr. Dayo Mobereola, and the Minister of Marine and Blue Economy, Dr. Adegboyega Oyetola.
At the event, Minister Oyetola left no room for ambiguity, issuing a pointed directive to heads of agencies under his ministry to focus on results and shun complacency.
“Let me emphasise that all Departments and Agencies under the Ministry must remain firmly focused on delivering tangible results,” the Minister stated.
He further stressed that the performance bonds carry real weight, describing them as binding commitments subject to close monitoring and rigorous evaluation — not documents to be signed and shelved.
“These are not ceremonial documents. They are binding commitments. Accountability will not be optional,” Oyetola declared.
Speaking after the signing, Director-General Mobereola said the reforms being pursued at NIMASA are deliberate and are being driven with strong backing from the Ministry, adding that the agency remains firmly aligned with the Federal Government’s Renewed Hope Agenda.
On maritime security, Mobereola highlighted a landmark achievement: Nigeria has recorded zero piracy incidents in its territorial waters over the past four years. He attributed this record to enhanced surveillance systems and improved collaboration among security agencies.
The NIMASA chief also announced that the agency is close to completing the automation of its ship registry processes — a reform expected to eliminate administrative delays, speed up turnaround times, and sharpen Nigeria’s competitiveness in the global maritime industry.
Additionally, Mobereola noted that Nigeria has deposited three maritime conventions with the International Maritime Organization (IMO), with three more pending Federal Executive Council approval. He also highlighted Nigeria’s re-election into Category C of the IMO Council in November 2025 as a milestone that restores the country’s standing in global maritime governance and reinforces its leadership role on the African continent.
Waterways News | www.waterwaysnews.ng
Oyetola Orders NSC Probe into Alleged Plot to Squeeze Out Local Barge Operators
Minister vows zero tolerance for anti-competitive behaviour as indigenous operators cry foul over foreign interference at Nigerian seaports
By Oghenewoke Onoriode|Waterways News Correspondent, LAGOS
The Minister of Marine and Blue Economy, Dr Adegboyega Oyetola, has ordered the Nigerian Shippers’ Council (NSC) to investigate allegations that a coordinated effort is underway to push indigenous barge operators out of Nigeria’s seaport logistics chain.
The directive came during the 2026 First Quarter Citizens/Stakeholders’ Engagement, Sectoral Performance Review, and Ministerial Management Retreat of the Federal Ministry of Marine and Blue Economy, held in Lagos on Thursday.
Operators Raise the Alarm
Representatives of local barge operators used the platform to allege that certain foreign interests are engaged in a deliberate campaign to undermine their operations. They told the Minister that policies, operational bottlenecks, and preferential treatment allegedly extended to foreign-linked entities by some terminal operators are tilting the competitive landscape against Nigerian businesses.
The operators warned that if left unaddressed, the situation could erode local capacity and destabilise Nigeria’s maritime logistics ecosystem.
NSC Given the Mandate
Responding to the allegations, Dr Oyetola reaffirmed the Federal Government’s commitment to protecting local investments and ensuring a level playing field in the maritime sector. He directed the NSC — in its capacity as port economic regulator — to conduct a thorough and impartial investigation into the claims.
The Minister was unequivocal: any anti-competitive behaviour or policy inconsistency that disadvantages Nigerian businesses would not be tolerated.
Engagement as Policy Tool
Dr Oyetola also used the occasion to underscore the importance of regular stakeholder engagement in driving effective sectoral governance. He noted that the government remains firmly focused on developing the marine and blue economy as a pillar of national growth, employment generation, and sustainable development.
Nigeria Watch
The allegations against terminal operators echo long-standing concerns in the Nigerian maritime industry about the marginalisation of indigenous players in port operations. Local barge operators form a critical link in Nigeria’s cargo evacuation chain — particularly at Apapa and Tin Can Island ports — and their displacement would deepen the country’s dependence on foreign logistics providers.
The NSC’s mandate as port economic regulator makes it the appropriate body to probe these claims. However, the effectiveness of the investigation will depend on the Council’s willingness to act on its findings — including, where necessary, imposing sanctions on terminal operators found to have violated fair competition principles.
For the Federal Ministry of Marine and Blue Economy, Thursday’s engagement signals a more assertive posture on indigenous content in maritime logistics — one that stakeholders will be watching closely.
Waterways News — Covering Nigeria’s Maritime, Shipping and Blue Economy Sector
Blue Economy
Tinubu Approves Cargo Tracking Scheme That Could Save Nigeria N900bn in Lost Import Revenue
Tinubu Approves Cargo Tracking Scheme That Could Save Nigeria N900bn in Lost Import Revenue
Presidential approval secured for ICTN as Nigerian Shippers’ Council begins procurement; scheme expected to go live before year-end
By Emetena Ikuku, Lagos
President Bola Ahmed Tinubu has approved the full implementation of the International Cargo Tracking Note (ICTN), a flagship initiative of the Nigerian Shippers’ Council (NSC) designed to plug revenue leakages in the country’s import trade and strengthen regulatory oversight of inbound cargo.
The approval, confirmed at a stakeholders’ engagement convened by the Federal Ministry of Marine and Blue Economy in Lagos, ends months of uncertainty over the scheme’s future and sets the stage for what industry analysts say could be one of the most consequential reforms in Nigeria’s maritime sector in recent years.
What the ICTN Does
The ICTN is a real-time, online cargo tracking system that monitors the movement of inbound shipments from origin to destination. Beyond logistics visibility, it is designed to function as an economic intelligence tool — capturing import data that can be used to close gaps in revenue declaration and combat under-invoicing.
Industry projections suggest the system could help Nigeria recover up to N900 billion annually in import revenue currently lost to leakages — a figure that underscores the commercial stakes of getting the rollout right.
Procurement Underway
Pius Akutah, Executive Secretary and CEO of the Nigerian Shippers’ Council, confirmed to stakeholders that presidential approval had been secured and that procurement processes were already in motion. He expressed confidence that the ICTN would become operational before the end of the year.
Akutah acknowledged that previous implementation attempts had been suspended due to unresolved operational challenges, but said the Council had drawn lessons from those setbacks.
He noted that the Minister of Marine and Blue Economy, Adegboyega Oyetola, is personally committed to ensuring a seamless rollout, with the ministry taking deliberate steps to resolve all outstanding issues before the scheme goes live.
Nigeria Watch
The ICTN revival is significant beyond its revenue implications. For years, Nigerian freight forwarders, cargo agents, and port operators have operated in an environment where cargo data is fragmented and often unreliable — creating fertile ground for manifest fraud, valuation disputes, and customs evasion.
A fully operational ICTN would give the NSC, the Nigeria Customs Service, and the Nigerian Ports Authority (NPA) access to a unified cargo data stream, potentially transforming how import risk is assessed at Apapa, Tin Can Island, and the emerging Lekki Deep Sea Port.
For the broader blue economy agenda being championed by Minister Oyetola, real-time cargo intelligence also supports Nigeria’s ambitions to position its ports as West Africa’s premier logistics hub — a goal that requires the kind of regulatory credibility the ICTN is designed to provide.
Stakeholders will be watching the procurement timeline closely. The scheme has been suspended before, and the maritime industry’s confidence in its delivery will depend on whether the ministry can demonstrate tangible progress before the year runs out.
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