When His Excellency President Bola Ahmed Tinubu, established the Federal Ministry of Marine and Blue Economy in August 2023, it signaled a decisive step towards diversifying Nigeria’s economic engine beyond traditional sectors. Under the pioneer leadership of His Excellency Adegboyega Oyetola, the Ministry was charged with unlocking the vast, underutilized value of Nigeria’s 853 kilometers of coastline, extensive inland waterways, and exclusive economic zones.
Over the past three years, the Ministry has successfully transitioned from a newly created institution into a vital engine of national revenue, security, and trade expansion. Through sweeping regulatory overhauls, bold port modernization projects, safety interventions, and targeted investments in indigenous capacity, the Ministry has elevated Nigeria’s standing in global maritime commerce. This publication highlights the monumental achievements that have defined its first three years of impact.
Record Revenue Generation
The agencies under the Ministry achieved a historic financial milestone by generating ₦1.83 trillion in 2025. This figure represents a staggering 160 percent increase compared to the ₦700.79 billion generated in 2023, effectively more than doubling the revenue levels recorded prior to the Ministry’s creation.
