{"id":122582,"date":"2025-09-28T16:46:24","date_gmt":"2025-09-28T15:46:24","guid":{"rendered":"https:\/\/pointblanknews.com\/pbn\/?p=122582"},"modified":"2025-09-28T16:54:14","modified_gmt":"2025-09-28T15:54:14","slug":"marine-blue-economy-need-urgent-funding-says-minister","status":"publish","type":"post","link":"https:\/\/pointblanknews.com\/pbn\/news\/marine-blue-economy-need-urgent-funding-says-minister\/","title":{"rendered":"\u200eMarine, Blue Economy Need Urgent Funding, says Minister"},"content":{"rendered":"<div id=\"m#msg-f:1844483921428338386\" class=\"mail-message expanded\">\n<ul>\n<li id=\"m#msg-f:1844483921428338386-header\" class=\"mail-message-header spacer\" style=\"text-align: justify;\"><\/li>\n<\/ul>\n<div id=\"m#msg-f:1844483921428338386-content\" class=\"mail-message-content collapsible zoom-normal mail-show-images \" style=\"text-align: justify;\">\n<div class=\"clear\">\n<div>\u200eDaniel Adaji<\/div>\n<div>\u200e<\/div>\n<div>\u200eThe Minister of Marine and Blue Economy, Adegboyega Oyetola, has warned that Nigeria\u2019s marine and blue economy cannot achieve its full potential without sustainable financing.<\/div>\n<div>\u200e<\/div>\n<div>\u200eHe stressed that the nation risks leaving vast marine resources underutilised unless innovative funding structures are urgently put in place.<\/div>\n<div>\u200e<\/div>\n<div>\u200eOyetola made the call in a statement on Saturday following the third Quarter Citizens\u2019 and Stakeholders\u2019 Engagement of the Ministry and its agencies held in Lagos recently.<\/div>\n<div>\u200e<\/div>\n<div>\u200eAddressing industry leaders, policymakers, investors and interest groups, he said finance is the decisive factor in translating the government\u2019s policy vision into measurable impact.<\/div>\n<div>\u200e<\/div>\n<div>\u200eThe Minister described the theme of the event, \u201cFrom Policy to Impact: Finance is Key,\u201d as both timely and urgent. He reminded participants that the Federal Executive Council had, in May 2025, approved Nigeria\u2019s first-ever National Policy on Marine and Blue Economy, which provides a clear roadmap for growth. However, he noted that the next step is mobilising capital.<\/div>\n<div>\u200e<\/div>\n<div>\u200eAccording to him, the new policy covers shipping, fisheries and aquaculture, marine tourism, coastal infrastructure, renewable energy, and ocean research. But \u201cvision without financing remains no more than a dream.\u201d<\/div>\n<div>\u200e<\/div>\n<div>\u200eHe added that government cannot alone bear the heavy responsibility of modernising ports, sustaining maritime security, expanding aquaculture, or building climate-resilient infrastructure. Instead, he urged innovative partnerships, international financing mechanisms and strong private sector engagement.<\/div>\n<div>\u200e<\/div>\n<div>\u200eHighlighting the ministry\u2019s track record, Oyetola recalled that in the first quarter of 2025, the Central Results Delivery Coordination Unit awarded the Ministry a performance score of 96 per cent.<\/div>\n<div>\u200e<\/div>\n<div>\u200eIn 2024, the Presidential Enabling Business Environment Council also named it the best performing ministry. He said these results show government\u2019s ability to deliver but emphasised that scaling up requires unlocking greater resources.<\/div>\n<div>\u200e<\/div>\n<div>\u200eHe pointed to financing-backed successes, including Nigeria\u2019s piracy-free record in the Gulf of Guinea for more than three years, achieved through investments in the Deep Blue Project.<\/div>\n<div>\u200e<\/div>\n<div>\u200eHe also noted the rehabilitation of Lagos ports, which is attracting larger vessels, cutting turnaround time, and creating jobs. Consultations with fisheries associations, he said, are driving aquaculture expansion, fish harbour development, and satellite monitoring, contributing to a nearly 20 per cent rise in non-oil exports in the first half of the year.<\/div>\n<div>\u200e<\/div>\n<div>\u200e\u201cDistinguished stakeholders and partners, let us be clear: the Marine and Blue Economy is not solely a government agenda \u2014 it is a shared prosperity project. Finance is the lever that will attract long-term private capital; align our practices with global standards in PPPs, bonds, and blended finance, and ensure every stakeholder initiative complements the 10-Year National Policy for maximum impact,\u201d Oyetola said.<\/div>\n<div>\u200e<\/div>\n<div>\u200eHe stressed that Nigeria\u2019s path from policy to impact requires aligning ambition with resources, strategy with execution, and vision with impact.<\/div>\n<div>\u200e<\/div>\n<div>\u200e\u201cWith collective commitment and innovative financing,\u201d he said, \u201cNigeria is well placed to secure leadership in Africa\u2019s marine and blue economy and to generate the prosperity, jobs and environmental resilience that its citizens deserve.\u201d<\/div>\n<div>\u200e<\/div>\n<div>\u200eThe Permanent Secretary of the Ministry, Olufemi Oloruntola, also delivered a technical presentation titled \u201cImperatives of Public Investment for Marine and Blue Economy Development.\u201d<\/div>\n<div>\u200e<\/div>\n<div>\u200eHe argued that public investment is vital seed capital to de-risk private sector involvement, strengthen regulatory institutions, and align national priorities with long-term growth.<\/div>\n<div>\u200e<\/div>\n<div>\u200eOloruntola warned that current budget allocations are grossly inadequate for capital-intensive projects such as port modernisation, maritime security, fisheries, tourism and renewable energy. He therefore called for a dedicated Blue Economy Fund, stronger public\u2013private partnerships, and the use of blue bonds, green financing and multilateral support.<\/div>\n<div>\u200e<\/div>\n<div>\u200eHe outlined opportunities for Nigeria to exploit, including modernisation of seaports and inland waterways, support for indigenous shipping lines, fisheries and aquaculture expansion, development of cruise terminals and eco-tourism infrastructure, and investment in marine biotechnology and renewable energy.<\/div>\n<div>\u200e<\/div>\n<div>\u200eWith the right financing structure, he said, Nigeria could tap into over $1.5 trillion in global blue economy opportunities by 2030, creating millions of jobs and sustainable livelihoods for coastal communities.<\/div>\n<div>\u200e<\/div>\n<div>\u200eAlso at the event, Jude Chiemeka, Chief Executive Officer of Nigerian Exchange Limited, presented a paper titled \u201cMarine and Blue Economy Development: Alternative Sustainable Financing Option.\u201d<\/div>\n<div>\u200e<\/div>\n<div>\u200eHe underscored the capital market\u2019s role in raising long-term funds for projects through sustainability-linked loans, blended finance, and impact investments.<\/div>\n<div>\u200e<\/div>\n<div>\u200eThe Lagos engagement drew participants from maritime associations, financial institutions, civil society, and other groups, all underscoring the consensus that the marine and blue economy is central to Nigeria\u2019s diversification agenda.<\/div>\n<div id=\"m_-5501159037939752904ymail_android_signature\"><\/div>\n<\/div>\n<\/div>\n<div id=\"m#msg-f:1844483921428338386-footer\" class=\"mail-message-footer spacer collapsible\" style=\"text-align: justify;\"><\/div>\n<\/div>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content --><!-- AddThis Related Posts generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>\u200eDaniel Adaji \u200e \u200eThe Minister of Marine and Blue Economy, Adegboyega Oyetola, has warned that Nigeria\u2019s marine and blue economy cannot achieve its full potential without sustainable financing. \u200e \u200eHe&hellip;<!-- AddThis Advanced Settings generic via filter on wp_trim_excerpt --><!-- AddThis Share Buttons generic via filter on wp_trim_excerpt --><!-- AddThis Related Posts generic via filter on wp_trim_excerpt --><\/p>\n","protected":false},"author":1,"featured_media":122588,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"no","_lmt_disable":"","footnotes":""},"categories":[5],"tags":[],"class_list":["post-122582","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.8 - 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