FG TASK MASTER MARINERS ON BLUE ECONOMY

The federal government through the Minister of the Marine and Blue Economy, Dr. Adegboyega Oyetola has called on members of the Nigerian Association of Master Mariners, NAMM, to support the government in harnessing Nigeria’s Blue Economy resources.

Speaking at NAMM’s 2026 Annual General Meeting, AGM, held in Lagos

The Minister, represented by Dr. Bolaji Usene, Research Officer, Fishing Technology and Safety Department, Nigerian Institute for Oceanography and Marine Research, Victoria Island, Lagos, said members of NAMM are key players in Nigeria’s quest to reposition itself as a leading Maritime nation within the West African sub region and  beyond.

According to Oyetola, “This association occupies a unique place in our national life. Master Mariners are not
merely professionals; they are the custodians of our maritime heritage, the commanders
of our sea lanes, and the living repository of the seamanship that underpins Nigeria’s status as a maritime nation”

 

“Your theme and your deliberations over the years have consistently demonstrated that NAMM is not just a professional body, but a critical
stakeholder in the national project”

Dr. Oyetola clarified that the the Marine and Blue Economy is not a buzzword.

“It is a structured, deliberate, and measurable national strategy. It is the recognition that our 853-kilometre coastline, our  vast Exclusive Economic,  Zone, EEZ and over 10,000 kilometres of inland waterways represent a treasure trove capable of transforming this nation”

On the  value of the blue economy,  which the Minister said is estimated at approximately $3 trillion, Oyetola was categorical that Nigeria is determined to secure a significant share of that global wealth.

On the vision and policy direction of the federal government, the Minister said the Policy is built on a clear vision which envisions Nigeria as a global leader in sustainable marine and blue economy practices, a major hub for maritime trade in Africa and a reference point for environmental stewardship.

Minister Oyetola told participants at the 2026 NAMM AGM the the blue economy policy as formulated by the federal government is deliberately inclusive and growth-oriented.

He explained that the policy targets a seven

per cent annual growth rate and the creation of at least 100,000 new jobs every year, amounting to one million direct and indirect jobs by 2034.

“The policy explicitly reserves 50 per cent of new jobs for youths aged 18–35 and 70 per cent for women and people with special needs, ensuring that the blue economy is a shared prosperity project”

“The Policy covers the full value chain. It is not limited to shipping alone. It
provides a unified framework for fisheries and aquaculture, offshore energy, marine
biotechnology, coastal tourism, renewable ocean energy, and maritime security” Oyetola emphasized.

REVENUE

In revenue terms, Oyetola disclosed that agencies under the Ministry of Marine and Blue Economy have moved from generating approximately ₦700 billion in 2023 to over ₦1.83 trillion in 2025, a 160 per cent.

“This increase speaks to the confidence investors now have in our regulatory

environment”  Oyetola declared.

Paper presentations by Captain Iheanacho Ebubeogu and  Olugbenga Abisoye, award presentation to deserving Master Mariners, captains of industry and investors made the NAMM 2026 AGM a memorable event.