Minister Calls for Increased Investment in Nigeria’s Ocean and Blue Economy
Dr. Adegboyega Oyetola, Nigeria’s Minister of Oceans and Blue Economy, has urged the private sector to ramp up investments and forge stronger collaborations among federal and state governments, as well as development partners. This plea aims to hasten the implementation of the nation’s national ocean and blue economy policy.
Stakeholders Gather to Discuss Policy Implementation
Speaking at the Q2 2026 Citizens and Stakeholders Engagement event hosted by the Federal Ministry of Oceans and Blue Economy in Lagos, Oyetola emphasized the urgency of moving from policy formulation to actionable strategies that yield economic returns. The event, themed “From Policy to Action: Mobilizing Local Governments for Effective Implementation of Nigeria’s National Policy on Ocean and Blue Economy,” attracted a diverse array of attendees, including government officials, diplomats, industry leaders, and academics.
Framework for Economic Growth
The Minister outlined that the national ocean and blue economy policy offers a comprehensive framework for leveraging Nigeria’s vast marine resources—such as oceans, inland waterways, and fisheries. However, he stressed that the realization of this framework hinges on collective efforts and sustained investments from the private sector.
Local Governments’ Role in Investment Attraction
Oyetola pointed out that most of Nigeria’s blue economy assets are situated within states and local communities, making local governments crucial in attracting investment, generating employment, boosting food security, and promoting environmental sustainability. He urged coastal states to synchronize their development strategies with national policies while encouraging private investments across sectors, including fisheries, aquaculture, shipping, tourism, and renewable energy.
Bayelsa’s Commitment to the Blue Economy
In a keynote address, Bayelsa State Governor Senator Duoye Diri praised President Bola Tinubu for establishing the Federal Ministry of Marine and Blue Economy, deeming it a pivotal move toward diversifying Nigeria’s economic landscape. Diri revealed that Bayelsa has set up its own Ministry of Oceans and Blue Economy to spearhead initiatives aligned with the state’s development agenda.
Investment Opportunities and Infrastructure Development
Governor Diri highlighted ongoing projects such as large-scale fish production at Bayelsa Aquaculture Village and advancements in the construction of the Agge deep-sea port. He called for other coastal states to establish dedicated ministries, enact relevant legislation, and invest in skills development and infrastructure to seize emerging opportunities in the blue economy sector.
The Role of the Private Sector in Job Creation
During the session, Aliko Dangote, President and CEO of Dangote Industries Limited, underscored the critical need for private sector involvement. Represented by Managing Director Simeon Akin Omole, he noted that the effective execution of national policies is contingent upon ongoing private sector engagement. Dangote stated that the blue economy initiative aims to generate 3 million jobs within the first four years and achieve a 7% annual growth rate while ensuring at least half of these new jobs are filled by young individuals aged 18 to 35.
Unlocking Economic Potential through Innovation
Dangote emphasized that realizing industrial transformation requires coherent policies, robust infrastructure, access to financing, and investor confidence. He highlighted the importance of infrastructure-driven industrialization and public-private partnerships as foundational elements necessary for unlocking the blue economy’s potential. Moreover, he identified fisheries as a significant investment opportunity, asserting that increased investments could reduce dependence on fish imports, save foreign exchange, and create over 500,000 jobs, positioning Nigeria as a key exporter of seafood.
