Blue Economy
Oyetola Courts Global Investors for Nigeria’s Marine Sector at London Shipping Week
Oyetola Courts Global Investors for Nigeria’s Marine Sector at London Shipping Week
Minister showcases Nigeria’s maritime transformation at premier international gathering
Nigeria’s Minister of Marine and Blue Economy, Chief Adegboyega Oyetola, has launched a major pitch to international investors, positioning the country’s marine and blue economy as the gateway to Africa’s economic transformation.
Speaking at the ongoing London International Shipping Week (LISW) 2025, Oyetola made a compelling case for long-term investment in Nigeria’s rapidly evolving maritime sector, describing it as a cornerstone for continental growth.
The Minister delivered his message on Thursday at the Africa Maritime and Shipping Assembly, hosted at the International Maritime Organization (IMO) headquarters as part of the prestigious maritime gathering. He was represented by Dr. Dayo Mobereola, Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA).
Nigeria as Maritime Gateway
In his keynote address titled “Navigating Regulatory Seas: Steering Africa’s Maritime Governance Towards Seamless Trade,” Oyetola emphasized Nigeria’s comprehensive approach to maritime development through regulatory reforms, port modernization, enhanced security, and sustainable shipping practices.
“Our oceans and inland waterways are our lifeblood, our highways to prosperity, and the very arteries that will fuel the African Continental Free Trade Area,” the Minister declared, according to a statement from his Media Adviser, Dr. Bolaji Akinola.
The government’s ambitious reform agenda aims to establish Nigeria as the definitive maritime hub for West and Central Africa, leveraging the country’s strategic coastal position and expanding infrastructure.
Security Achievements Draw International Praise
Oyetola highlighted Nigeria’s remarkable maritime security transformation, particularly through the Deep Blue Project, which has successfully eliminated piracy in Nigerian territorial waters. The initiative has contributed to a broader decline in maritime security incidents across the Gulf of Guinea.
Nigeria now boasts three consecutive years without piracy attacks in its waters—an achievement that has earned recognition from the International Maritime Bureau.
“This proves Nigeria is a safe destination for maritime investments. Security of our seas is non-negotiable, and we remain committed to sustaining these gains through technology-driven surveillance, robust legal frameworks like the SPOMO Act, and regional collaboration,” Oyetola stated.
Infrastructure Development Drives Regional Ambitions
The Minister spotlighted Nigeria’s expanding port infrastructure, with the Lekki Deep Sea Port serving as a flagship example of successful public-private partnership. The state-of-the-art facility can accommodate the world’s largest vessels and is positioned to become a crucial transshipment hub for landlocked African nations.
“We are actively collaborating to scale up transshipment operations for countries such as Chad, Niger, and Burkina Faso, positioning Nigeria as the maritime hub of the sub-region,” he explained.
Sustainability and Green Growth Focus
Beyond economic considerations, Oyetola emphasized Nigeria’s commitment to environmentally responsible growth. The country is pursuing green shipping practices, eco-friendly port infrastructure, and climate-resilient coastal management strategies to ensure the blue economy drives both profit and environmental protection.
Call for Continental Regulatory Reform
The Minister also addressed the critical need for regulatory harmonization across Africa’s maritime sector, arguing that fragmented regulations and non-tariff barriers undermine the African Continental Free Trade Area’s objectives.
“It is paradoxical that we seek to remove tariffs through AfCFTA while leaving non-tariff barriers—such as disparate port procedures and differing customs regulations—largely intact,” he observed.
Oyetola advocated for accelerated implementation of continental frameworks like the Revised African Maritime Transport Charter to create a more predictable, investor-friendly environment.
Strategic Platform for Global Engagement
Nigeria’s participation in LISW comes as the global maritime industry undergoes significant transformation focused on resilience, sustainability, and digitalization. As one of the world’s most influential shipping events, LISW brings together policymakers, regulators, investors, shipowners, and maritime professionals from across the globe.
For Nigeria, the platform represents an unparalleled opportunity to demonstrate the country’s investment readiness and strengthen advocacy for African interests in global maritime governance.
The Minister’s presentation underscores Nigeria’s strategic vision to leverage its maritime assets not just for national development, but as a catalyst for broader African economic integration and growth.