Oyetola Signs Performance Bonds With Heads Of Agencies

Minister of Marine and Blue Economy, Adegboyega Oyetola has signed the performance bond with heads of agencies in the ministry to ensure the full implementation of Marine and Blue Economy Policy.

The performance bond ceremony was part of the major decisions taken at the ongoing two-day sectoral retreat for top management staff of the ministry and its agencies in Abuja on Tuesday.

Speaking at the event, the minister reaffirmed his unwavering commitment to the full and accelerated implementation of the newly approved National Policy on Marine and Blue Economy, calling on the top management of the ministry and its agencies to recommit themselves to effective leadership, inter-agency collaboration, and measurable performance outcomes.

He described the gathering as a defining moment for reflection, realignment, and purposeful engagement and stressed that the retreat goes beyond administrative formality, representing instead a crucial opportunity to evaluate the sector’s direction and to reposition it for impactful delivery in line with national expectations.

Oyetola emphasised that the Marine and Blue Economy has been placed at the forefront of the federal government’s economic growth agenda under the Renewed Hope framework, and that it is incumbent on the ministry’s leadership to drive this vision with urgency and discipline.

The minister highlighted recent milestones, including ongoing efforts to modernise port infrastructure, implementation of the national single window platform, improvements in port efficiency, enhanced maritime security, progress in aquaculture and fisheries, and the commencement of the long-anticipated disbursement process of the Cabotage Vessel Financing Fund (CVFF).

He added that the recent approval of the national policy on Marine and Blue Economy by the Federal Executive Council is a foundational achievement that sets the strategic framework for long-term sectoral transformation.

Oyetola also highlighted Nigeria’s ongoing bid for a Category C seat on the International Maritime Organization (IMO) Council, describing it as a strategic national objective.

He stressed that the Ministry would continue to lead on diplomatic engagement and international outreach, but that every agency must play its part in showcasing Nigeria’s readiness to continue to lead and contribute meaningfully to global maritime affairs.

Earlier in his opening remarks, the permanent secretary of the ministry,  Olufemi Oloruntola, reiterated the minister’s call for decisive action on the policy implementation.

He described the retreat as a critical platform for identifying and resolving the barriers to effective execution, strengthening inter-agency synergy, and defining the specific steps needed to position the Marine and Blue Economy as a major driver of national development in alignment with global trends.

He noted that a key feature of the retreat is the signing of Performance Bonds by heads of agencies, which would be tied to clearly defined Key Performance Indicators (KPIs). This, he said, is a reflection of the ministry’s collective commitment to accountability, results, and service excellence.