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Marine and Blue Economy set to replace oil as major revenue earner, says Minister as IMO Chief tours maritime facilities in Lagos

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Minister of Marine and Blue Economy, Adegboyega Oyetola, IMO Chief Arsenio Domínguez at the Institute of Maritime Studies, University of Lagos
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SUN OCT 05 2025-theGBJournal| The Secretary-General of the International Maritime Organization (IMO), Arsenio Domínguez, on Friday continued his official three-day working visit to Nigeria with an extensive tour of major maritime formations in Lagos, underscoring the country’s pivotal role in global maritime security and manpower development.

Domínguez, who arrived in Nigeria on Thursday, had earlier met with the Minister of Marine and Blue Economy, Adegboyega Oyetola, and heads of key maritime agencies, followed by a courtesy call on President Bola Ahmed Tinubu at his Lagos residence.

Meanwhile, the Minister of Marine and Blue Economy, Adegboyega Oyetola, has declared that Nigeria’s marine and blue economy sector is being strategically repositioned to serve as the country’s major revenue earner, replacing crude oil as the dominant source of national income.

Speaking at the Institute of Maritime Studies, University of Lagos (UNILAG), during the official visit of the International Maritime Organization (IMO) Secretary-General, Arsenio Domínguez, Oyetola highlighted the vast opportunities inherent in the maritime sector.

He said the Federal Government is committed to unlocking these opportunities through investments in infrastructure, manpower development, and international partnerships.

“Nigeria’s future lies beyond oil. The marine and blue economy is a goldmine that can drive sustainable economic growth, create millions of jobs, and position our nation as a global maritime hub. We are determined to harness its full potential to become the primary driver of our economy,” the minister said.

Oyetola, an alumnus of UNILAG, urged Nigerian youths to take advantage of the numerous career and investment prospects within the sector.

According to him, the government’s vision for the blue economy requires a new generation of skilled professionals who will drive innovation and competitiveness.

“There are abundant opportunities for our young people in shipping, logistics, fisheries, shipbuilding, marine research, and offshore energy. I encourage you to be bold, innovative, and diligent. The future of this sector, and indeed the future of Nigeria’s economy, rests on your shoulders,” he added.

He commended UNILAG and the Nigerian Maritime Administration and Safety Agency (NIMASA) for their collaboration in maritime manpower development, particularly the establishment of a modern facility for the Institute of Maritime Studies.

The minister reaffirmed that the Federal Government’s marine and blue economy agenda is anchored on sustainability, innovation, and inclusivity, stressing that youth engagement and capacity building are central to achieving the long-term vision.

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Access Pensions, Future Shaping
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