Nigeria’s maritime sector is undergoing significant transformation, with agencies under the Federal Ministry of Marine and Blue Economy generating N1.83 trillion in revenue in 2025, the minister, Adegboyega Oyetola, has said.
Mr Oyetola disclosed this while presenting the ministry’s three-year scorecard, highlighting reforms and interventions introduced since President Bola Ahmed Tinubu established the ministry in August 2023.
He attributed the increase in revenue to regulatory reforms, improved revenue assurance, digitisation and measures aimed at plugging financial leakages.
According to the minister, the reforms have delivered improvements in revenue generation, port infrastructure, maritime security, regulation, indigenous shipping, human-capital development, fisheries and inland-waterway safety.
He said the Federal Government was also leveraging Nigeria’s 853-kilometre coastline and extensive inland waterways to develop the marine and blue economy as a major source of revenue, trade, investment, security and employment.
Mr Oyetola identified the approval of Nigeria’s first National Policy on Marine and Blue Economy in May 2025 as one of the administration’s key achievements.
He said the policy provided a unified framework for sectors including shipping, fisheries, offshore energy and marine biotechnology, replacing what he described as a previously fragmented approach to managing the country’s maritime resources.
The minister said the government had also introduced measures to eliminate unauthorised shipping charges and strengthen freight and foreign-exchange verification.
He said the measures were designed to reduce financial leakages and capital flight while creating a more transparent operating environment in which legitimate maritime businesses could compete fairly.
Mr Oyetola said the progress recorded over the past three years represented the foundation for a much larger economic opportunity in the sector.
Apapa export volumes increase
Meanwhile, APM Terminals has reported a six per cent increase in export volumes handled at Apapa Port in the first half of 2026.
The terminal attributed the growth partly to the availability of dedicated export lanes and rail connectivity to the Lagos Port Complex.
Major commodities handled for export included soybeans, cashew nuts, cocoa, hibiscus flowers and solid minerals.
The Managing Director of APM Terminals Apapa, Kamal Alhraishat, said the increase reflected the resilience of Nigerian exporters, alongside operational and service improvements aimed at making export processes more efficient.
He said the terminal had introduced targeted improvements over the past five years to simplify cargo movement, facilitate export trade and improve access to international markets.
Mr Alhraishat said the rail connection between Lagos and Moniya in Ibadan, which operates three times a week, offered exporters an alternative to road transportation.
He added that the terminal also receives export cargo through the Ebute-Metta rail corridor, allowing goods from different parts of Lagos to reach the port while helping exporters avoid traffic congestion and reduce transit times.
The Head of Commercial at APM Terminals, Kayode Olufemi-Daniel, said the company’s Exporters Forum was aligned with the Federal Government’s efforts to develop an export-led economy.
The forum, he said, provided an avenue to engage exporters and address issues affecting the movement of goods to international markets.
