Newly approved National Marine & Blue Economy policy will create sustainable prosperity — Oyetola

The Minister of Marine and Blue Economy, Adegboyega Oyetola, has disclosed that the newly approved National Marine and Blue Economy Policy will foster sustainable growth in Nigeria’s maritime sector.

Nigeria has taken a bold step towards unlocking the full potential of its marine and coastal resources, as the Federal Executive Council (FEC) on Monday, 5 May 2025, approved the country’s first-ever National Marine and Blue Economy Policy.

According to a statement by Dr Bolaji Akinola, the landmark approval marks a watershed moment in Nigeria’s economic and environmental trajectory.

The statement noted that Oyetola expressed strong optimism that the policy would lay the foundation for sustainable prosperity in the country.

He described the policy as a visionary framework for national development, noting that the FEC’s decision is both timely and transformative.

The Minister pointed out that the new policy will serve as a strategic guide for the development of the marine and blue economy sector over the next ten years, helping Nigeria harness the full value of its oceans, seas, rivers, and inland waterways.

According to him, the document provides not only policy direction but also a long-term implementation plan that aligns environmental protection with inclusive economic growth.

“The Federal Executive Council’s endorsement of this visionary policy signals a new dawn for Nigeria’s engagement with its marine and aquatic resources. It is not just a policy document — it is a bold declaration of intent.”

He emphasised that the policy is designed to function as a living document, adaptable over time and responsive to global advancements, domestic realities, and sectoral innovation.

Oyetola further explained that the policy was developed through a rigorous, inclusive process involving multilevel consultations with critical stakeholders across the country.

He underscored the importance of that collaborative approach, noting that it lends both credibility and practicality to the final product.

“This is not a top-down document. It is the outcome of patient dialogue, expert input, and stakeholder consensus. That is why we are confident in its impact,” he said.

The Minister noted that Nigeria’s coastal and marine assets—spanning 853 kilometres of coastline and extensive inland waterways—have remained largely underutilised for decades. With the new policy in place, he said, the country now has a comprehensive blueprint to transform these resources into drivers of economic diversification, job creation, and environmental sustainability.

“We now have a policy that speaks to our aspirations and gives us the tools to achieve them. From maritime trade and aquaculture to blue tourism and clean ocean energy, this policy presents clear pathways to national development,” Oyetola remarked.

He stressed that the policy provides simple, actionable guidelines for both public and private stakeholders to align their efforts with Nigeria’s marine and blue economy agenda. It includes an embedded monitoring and evaluation framework to ensure measurable results and accountability over its ten-year lifespan. Oyetola assured that the Ministry of Marine and Blue Economy is fully prepared to lead the implementation phase with diligence and transparency.

The Minister also highlighted the pivotal role of private sector investment in realising the policy’s goals.

“Private sector investments are crucial for implementing the National Marine and Blue Economy Policy,” Oyetola emphasised.

“We strongly encourage domestic businesses and international investors to direct investment into activities that help to grow the marine and blue economy in Nigeria. Furthermore, Public-Private Partnerships (PPPs) will be vital in mobilising the technical expertise and financial capital needed to unlock the full potential of this sector.”

“This policy reflects Mr President’s vision of a reimagined Nigeria — one that draws strength from its natural endowments while safeguarding the environment for future generations,” he said.

Minister Oyetola reaffirmed his commitment to ensuring that the policy translates into tangible improvements in livelihoods, national revenue, and ecological well-being.

“It is time to turn the tide,” he declared. “The ocean is not just a boundary — it is our future. And with this policy, we are ready to navigate that future with clarity, purpose, and unity.”

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