Seize Maritime Sector Opportunities Amid N1.39trn Revenue Growth, Minister Urges Youths

The Minister of Marine and Blue Economy, Adegboyega Oyetola, has called on Nigerian youths to seize the abundant opportunities in the maritime sector, highlighting the sector’s remarkable revenue growth to N1.39 trillion in 2024.

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 emphasised that the marine and blue economy is rapidly emerging as Nigeria’s major revenue earner, with income rising from N700.79 billion in 2023 to N1.39 trillion in 2024.

The impressive growth, the minister noted, was achieved through bold institutional reforms such as tightening regulatory oversight, sealing revenue leakages, streamlining processes, and adopting modernisation practices—not by imposing new costs on operators.

According to him, 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, however, 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.