The Federal Ministry of Marine and Blue Economy has introduced measures aimed at eliminating unauthorised shipping charges and strengthening freight and foreign-exchange verification in an effort to reduce leakages and curb capital flight. Its Minister, Dr. Adegboyega Oyetola said that the reforms were intended to create a maritime business environment in which legitimate operators could... The post Ministry Introduces Measures To Eliminate Unauthorised Shipping Charges appeared first on New Tel
The Federal Ministry of Marine and Blue Economy has introduced measures aimed at eliminating unauthorised shipping charges and strengthening freight and foreign-exchange verification in an effort to reduce leakages and curb capital flight.
Its Minister, Dr. Adegboyega Oyetola said that the reforms were intended to create a maritime business environment in which legitimate operators could compete on a level playing field while protecting Nigerian businesses from avoidable costs.
The minister’s Special Adviser, Dr Bolaji Akinola said on Sunday that Nigeria’s maritime sector has undergone a far-reaching transformation in the three years since President Bola Ahmed Tinubu established the Federal Ministry of Marine and Blue Economy in August 2023, adding that the minister had moved swiftly to unlock the economic potential of Nigeria’s 853-kilometre coastline and extensive inland waterways, positioning the marine and blue economy as a major driver of revenue, trade, security and job creation.
Presenting the ministry’s three-year scorecard, Oyetola said that the reform programme had delivered measurable gains across revenue generation, port infrastructure, maritime security, regulation, indigenous shipping, human-capital development, fisheries and inland-waterway safety.
He explained: “At the heart of our mandate is a simple but powerful objective: to turn Nigeria’s vast marine resources into sustainable economic value for Nigerians.”
According to him, one of the clearest indicators of the progress recorded is the unprecedented growth in revenues generated by agencies under the Ministry.
The agencies generated ₦1.83 trillion in 2025, representing a 160 per cent increase over the ₦700.79 billion recorded in 2023.
Oyetola attributed the growth to regulatory reforms, stronger revenue assurance, digitisation and the systematic closure of financial leakages.
He said that the improvement in revenue performance was part of a broader effort to build a more transparent, efficient and investment-friendly maritime economy.
A major milestone in the reform programme was the approval, in May 2025, of Nigeria’s first National Policy on Marine and Blue Economy.
Oyetola said that the policy marked an important departure from the fragmented approach that had characterised the management of Nigeria’s maritime resources over the years by establishing a unified framework for shipping, fisheries, offshore energy, marine biotechnology and other emerging opportunities.
He said: “This policy gives us a clear roadmap. It provides the predictability and transparency investors need while ensuring that our marine resources are developed sustainably.”
The minister said that the policy was designed to guide government intervention and provide greater certainty for private-sector investment across the marine and blue economy value chain.
The minister said that port modernisation has remained at the centre of the ministry’s transformation agenda.
According to him, the Federal Government had embarked on a comprehensive programme to upgrade Nigeria’s major seaports, covering Apapa, Tin Can Island, Onne, Rivers, Calabar and Warri.
The programme includes channel improvements, modern cargo-handling infrastructure and increased digitisation of terminal operations, with the objective of improving efficiency and positioning Nigerian ports to handle larger volumes of international trade.
The World Bank and S&P Global Market Intelligence ranked Tin Can Island Port 10th and the Lagos Port Complex, Apapa, 12th among the world’s 20 most improved container ports between 2020 and 2025.
Oyetola stressed that the Government had also made significant progress in addressing the long-standing congestion around the Apapa port environment through the electronic truck call-up system, dedicated holding bays and expanded inland barging.
The acquisition of modern tugboats, pilot cutters and dredging equipment by the Nigerian Ports Authority, he added, had further strengthened port operations.
He added: “We have moved from managing congestion to building a port system that can compete globally.”
