Tinubu Approves National Policy on Marine and Blue Economy
The National Policy on Marine and Blue Economy front cover scooped by Daily Trend
President Bola Tinubu has approved Nigeria’s 10-Year National Policy on Marine and Blue Economy, covering the period from 2025 to 2034. The endorsement came during the Federal Executive Council meeting held in Abuja on Monday.
The policy is structured with a comprehensive implementation plan aimed at unlocking the country’s marine potential to stimulate economic development. With a coastline stretching over 853 kilometres, Nigeria is well-positioned to leverage its maritime domain for broad-based growth.
A key feature of the policy is its financing model. Implementation will rely primarily on private sector investment, with supplementary funding from other sources. This approach aligns with President Tinubu’s broader economic strategy to encourage increased private sector participation across critical sectors.
Developed by the Ministry of Marine and Blue Economy, the policy outlines a vision for Nigeria to emerge as both a regional and global leader in the blue economy. It focuses on areas such as sustainable investments, port development, infrastructure expansion, and improved governance within the maritime space.
Minister of Marine and Blue Economy, Adegboyega Oyetola, described the new policy as a comprehensive and inclusive framework that will strengthen maritime administration and elevate the sector’s contribution to the national economy.
He noted that the policy is in sync with the objectives of Africa’s Agenda 2063 and is intended to establish the marine and blue economy as a cornerstone of Nigeria’s long-term prosperity.
Oyetola acknowledged the expertise that informed the development of the policy, citing contributions from industry professionals, academics, and researchers. He said the collaborative approach underscores the ministry’s resolve to nurture sustainable growth in the sector.
“This confirms the ministry’s focus and steadfast commitment to the advancement of this important industry,” he said.
The minister stressed the potential of the blue economy to stimulate economic activity, particularly in Nigeria’s coastal communities, where marine-related industries could serve as powerful engines of job creation and wealth generation.
“The National Policy on Marine and Blue Economy marks a defining moment in our efforts to reposition Nigeria as a major maritime force,” he said. “It enables us to explore the untapped wealth of our oceans, generating sustainable benefits for the country and expanding opportunities for all Nigerians.”
The policy also sets out specific strategies for safeguarding marine ecosystems from pollution and mitigating the effects of climate change. It seeks to ensure responsible management of marine assets to preserve Nigeria’s aquatic biodiversity while promoting environmentally sound economic practices.
As part of the government’s wider commitment to blue economy development, the policy addresses key challenges including marine pollution, overfishing, and coastal degradation. It also underscores the need for modern technologies to improve the productivity and resilience of maritime industries.
This initiative reflects a growing global recognition of the ocean’s economic importance and the need to use marine resources in a sustainable manner. Industry observers believe the policy will not only advance Nigeria’s economic diversification efforts but also improve its standing in the international maritime arena.
The federal government is expected to unveil detailed implementation guidelines in the coming months, with a particular emphasis on fostering private sector engagement and reinforcing Nigeria’s position as a maritime leader on the African continent.
