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Nigeria's marine agencies report 160% revenue increase to N1.83tn
Nigeria’s Federal Ministry of Marine and Blue Economy reported a 160 per cent increase in revenue for 2025, reaching N1.83 trillion. This marks a significant rise from the N700.7 billion recorded in 2023.
Minister Adegboyega Oyetola attributed the growth to regulatory reforms, increased digitisation, stronger revenue assurance, and the closure of financial leakages. The ministry aims to leverage Nigeria’s 853-kilometre coastline and inland waterways to drive trade, security, and job creation.
A major milestone in these reforms was the May 2025 approval of Nigeria’s first National Policy on Marine and Blue Economy, which provides a unified framework for shipping, fisheries, offshore energy, and marine biotechnology.
Entities
Adegboyega Oyetola · Bola Tinubu · Bolaji Akinola · Federal Ministry of Marine and Blue Economy · Nigeria
Claims
What the coverage asserts, and how many sources carry each claim.
- [● 2 SOURCES] Revenue in 2023 was N700.7 billion. economicconfidential.com · shipsandports.com.ng
- [● 2 SOURCES] Revenue growth is attributed to regulatory reforms, digitisation, revenue assurance, and closing financial leakages. economicconfidential.com · shipsandports.com.ng
- [● 2 SOURCES] Nigeria's first National Policy on Marine and Blue Economy was approved in May 2025. economicconfidential.com · shipsandports.com.ng
- [● 2 SOURCES] Agencies under the Federal Ministry of Marine and Blue Economy generated N1.83 trillion in revenue in 2025. economicconfidential.com · shipsandports.com.ng