FG SEEKS GLOBAL INVESTMENT TO DEVELOP BLUE ECONOMY

The Federal Government has called for greater access to international investment, technical expertise and training to strengthen Nigeria’s maritime sector.

Minister of Marine and Blue Economy Adegboyega Oyetola made the appeal while leading Nigeria’s delegation to the International Maritime Organisation Council meeting in London.

He said developing maritime nations needed stronger support to compete in the global shipping industry and build sustainable ocean-based economies.

“Nigeria is committed to building a competitive and sustainable blue economy,” Oyetola said.

The minister urged greater technical cooperation to strengthen maritime institutions, improve regulatory capacity and create conditions that attract investment.

The council is reviewing funding for 2026–2027 and priorities for 2028–2029, alongside measures to protect important international shipping routes.

Oyetola highlighted Nigeria’s experience tackling piracy and maritime crime in the Gulf of Guinea, saying cooperation between governments, international organisations and industry stakeholders remained essential.

He also called for stronger protection of seafarers, stressing that geopolitical tensions should not put their safety, welfare or rights at risk.

“Seafarers are the lifeblood of international shipping,” he said.

The five-day meeting runs from November 2 to 6. Nigeria is using the gathering to pursue development partnerships and contribute to discussions shaping international maritime policy.

The report did not announce any new investment agreement or funding commitment.