Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Dr. Dayo Mobereola, has urged government and investors alike to look at the urgent need for greater funding for efficient maritime operations.

Speaking at the 2025 World Maritime Day commemoration in Lagos, Nigeria, the NIMASA Boss noted that over 80% of Nigeria’s trade flows through its waters as he emphasized the ocean’s role in climate regulation, biodiversity, and national security; framing it as a strategic asset that demands vigilant stewardship.

In his presentation at the event Dr. Mobereola said “Approximately 71% of the world’s surface is covered by oceans. According to the World Bank, the oceans provide a livelihood for nearly 3 billion people globally. Nigeria is blessed with a vast maritime endowment providing extensive opportunities for investment and growth.

“For us, the ocean is the lifeblood of our nation, the gateway for over 80% of our trade, and a reservoir of immense biodiversity and resources. Its health dictates our climate, its security defines our sovereignty, and its potential holds the key to our future”, Mobereola declared.

“The beauty and the diversity of the Ocean are not just captivating but continue to inspire us all. The opportunities in the ocean are vast and must be harnessed sustainably, from fisheries and aquaculture, renewable energy, shipbuilding and repair, tourism, to port infrastructure development among others.

“Sadly, the blue economy remains one of the most underfunded sectors globally. According to the World Bank, Sustainable Development Goal 14 (Life below water) is one of the most poorly funded SDGs, with an annual financing gap of approximately USD 150 billion. It has been acknowledged globally that Public Funding will never be enough to close the gaps”, Mobereola stressed

Proffering solution to the observed funding gaps he said  “To scale up financing for ocean health and the sustainable blue economy, the private sector must get involved. We need the right regulatory frameworks, incentive structures and de-risking mechanisms to mobilize the private sector and bring investment to the scale that is desperately needed”

Addressing security concerns Mobereola  disclosed “On the security front, we are delighted that the Deep Blue project (Nigeria’s Integrated Maritime Security Infrastructure) has become a game changer in addressing maritime security in Nigeria and the Gulf of Guinea Area”

“Public funding alone will never be enough. There is an old maritime adage that says, “Do not ever turn your back on the ocean; the tides and waves can sweep you off your feet.”

“We must therefore view Our Ocean as a national trust to be sustainably managed. All of us seated here have different roles to play in safeguarding our ocean, and we must work together whether as government, industry or community. We are all partners in progress”.