By Admin
The Honourable Minister of Marine and Blue Economy, Mr Adeboyega Oyetola, said the Federal Government has placed the sector at the forefront of its growth agenda, expecting significant strides in its development.
Oyetola made the remark during the 2025 Sectoral retreat for top management of the Ministry and its agencies on the recently approved national policy on marine and blue economy by the federal executive council.
The Minister stated that the policy provides the framework upon which all future initiatives, regulations, and investments in the sector must be anchored.
Mr Oyetola explained that in the past year, the Ministry has recorded commendable progress in several key areas of the nation’s economy.
“Ongoing modernization of port infrastructure and systems, steady improvements in port operational efficiency, early-stage implementation of the National Single Window platform as well as Incremental increases in revenue contributions to the national treasury.” the minister stated
” Others are sustained efforts in maritime domain awareness and security, advances in fisheries and aquaculture development and commencement of the process of disbursing the Cabotage Vessel Financing Fund (CVFF) to indigenous shipowners.” he added
The Permanent Secretary in the ministry, Mr Olufemi Oloruntola, said the retreat offers a platform to identify and address the barriers to effective execution, propose solutions for strengthening inter-agency synergy, and define steps that will position the sector as a major driver of national development.
He stated that the key highlight of the retreat will be the signing of Performance Bonds by Heads of Agencies, anchored on clearly defined Key Performance Indicators.
The Permanent Secretary added that equally vital to the success of the sector is the role of Directors in the Ministry, who constitute the core of the management structure.
