Maritime
Marine Economy To Replace Oil As Key Revenue Source — Minister
The Minister of Marine and Blue Economy, Adegboyega Oyetola, has said that Nigeria’s marine and blue economy sector is being repositioned to become the nation’s main revenue earner, replacing crude oil as the dominant source of income.
Oyetola made the remark during the official visit of the Secretary-General of International Maritime Organisation(IMO) Arsenio Domínguez, at the Institute of Maritime Studies, University of Lagos, Weekend
Oyetola said the maritime sector holds vast untapped opportunities capable of driving sustainable growth, creating millions of jobs, and positioning Nigeria as a global maritime hub.
In his words, “Nigeria’s future lies beyond oil. The marine and blue economy is a goldmine that can drive sustainable economic growth, create millions of jobs, and position our nation as a global maritime hub.
“With this, the marine and blue economy sector is being strategically repositioned to serve as the country’s major revenue earner, replacing crude oil as the dominant source of national income.
“We are determined to harness its full potential to become the primary driver of our economy.”
The minister, in a Statement signed by his Special Adviser, Media and Communications, Bolaji Akinola, also reiterated the government’s commitment to unlocking these opportunities through investments in infrastructure, manpower development, and international partnerships.
Oyetola, an alumnus of UNILAG, urged Nigerian youths to take advantage of the numerous career and investment prospects within the sector.
According to him, the government’s vision for the blue economy requires a new generation of skilled professionals who would drive innovation and competitiveness.
“There are abundant opportunities for our young people in shipping, logistics, fisheries, shipbuilding, marine research, and offshore energy. I encourage you to be bold, innovative, and diligent. The future of this sector, and indeed the future of Nigeria’s economy, rests on your shoulders,” he added.
Oyetola commended UNILAG and the Nigerian Maritime Administration and Safety Agency for their collaboration in maritime manpower development, particularly the establishment of a modern facility for the Institute of Maritime Studies.
He insisted that the Federal Government’s marine and blue economy agenda is anchored on sustainability, innovation, and inclusivity, stressing that youth engagement and capacity building are central to achieving the long-term vision.