Adegboyega Oyetola, Nigeria’s Minister of Marine and Blue Economy, has urged the nation’s youth to capitalize on the vast prospects within the maritime industry, underscoring the sector’s impressive revenue surge to N1.39 trillion projected for 2024.
During a visit to the Institute of Maritime Studies at the University of Lagos (UNILAG), coinciding with the official presence of International Maritime Organization (IMO) Secretary-General Arsenio Domínguez, Oyetola highlighted the marine and blue economy as a rapidly expanding pillar of Nigeria’s financial landscape. He revealed that earnings have nearly doubled from N700.79 billion in 2023 to an anticipated N1.39 trillion in 2024.
This significant advancement, the minister explained, stems from decisive institutional reforms including enhanced regulatory frameworks, plugging revenue leakages, optimizing operational workflows, and embracing technological modernization-achieved without burdening operators with additional fees.
He emphasized the federal government’s dedication to unlocking the sector’s full potential through strategic investments in infrastructure, workforce training, and fostering global collaborations.
“Our nation’s economic future extends beyond oil dependency. The marine and blue economy represents a treasure trove capable of fueling sustainable growth, generating millions of employment opportunities, and establishing Nigeria as a premier maritime center worldwide. We are committed to fully leveraging this sector as a cornerstone of our economy,” Oyetola stated.
Addressing Nigerian youths directly, the minister encouraged them to explore the diverse career paths and investment avenues available within the maritime domain. He stressed that realizing the government’s vision for the blue economy hinges on cultivating a new cadre of skilled professionals who will spearhead innovation and enhance competitiveness.
“Opportunities abound in areas such as shipping, logistics, aquaculture, ship construction, marine science, and offshore energy development. I urge you to approach these fields with creativity, determination, and resilience. The prosperity of this sector-and indeed Nigeria’s broader economic future-depends on your active participation,” he added.
Oyetola also praised the partnership between UNILAG and the Nigerian Maritime Administration and Safety Agency (NIMASA) for their joint efforts in maritime education, particularly the creation of a state-of-the-art facility for the Institute of Maritime Studies.
Reiterating the government’s commitment, the minister affirmed that the marine and blue economy strategy is grounded in principles of sustainability, innovation, and inclusiveness, with youth empowerment and skill development at its core to ensure long-term success.
