Dr. Kayode Farinto a former acting President of Association of Nigerian Licensed Customs Agents (ANLCA) has called on the Federal Government to urgently recalibrate its approach to Nigeria’s blue economy, warning that vast maritime and aquatic resources capable of generating billions in revenue remain largely untapped due to weak sensitisation, policy inertia and poor institutional coordination.
Farinto spoke at his birthday celebration organised by the Nigeria Economic Growth Forum, themed “Raising National Awareness on the Significance and Economic Potential of the Blue Economy.” The event doubled as a policy advocacy platform, with Farinto delivering an expansive critique of Nigeria’s current blue economy framework while offering concrete pathways for reform.
Recalling his long-standing advocacy, Farinto said he was among the early voices that pushed for the unbundling of the former Ministry of Transportation, arguing that it had grown too large and inefficient to effectively harness Nigeria’s maritime opportunities. He noted that his call for a standalone Ministry of Blue Economy eventually materialised under President Bola Tinubu, describing the development as timely but still underwhelming in execution.
“Two to three years after the creation of the ministry, I must say sincerely that it has not reached the level it ought to have attained by now,” he said. “The blue economy should have moved much farther than this.”
Farinto anchored his argument on global best practices, referencing the United Nations Sustainable Development framework, particularly the goals tied to aquatic life, clean water and environmental sustainability under the Sustainable Development Goals. According to him, Nigeria remains far behind in meeting these benchmarks.
He stressed that with proper planning and investment, the blue economy could generate at least half of what the Nigeria Customs Service earns annually, insisting that the sector’s revenue potential is being squandered through neglect and policy gaps.
A major plank of his argument was the absence of sustained sensitisation and advocacy. Farinto underscored the strategic role of maritime media, research institutions and educational advocacy, urging government to earmark quarterly funding for research-driven ideas that could be aggregated and implemented through a dedicated committee within the Ministry of Marine and Blue Economy.
On aquaculture, he lamented that Nigeria has failed to institutionalise artificial aquatic ecosystems capable of generating revenue while protecting marine life. He also faulted the educational curriculum in coastal states for not embedding blue economy studies early enough to inspire future professionals in the sector.
Environmental degradation featured prominently in his address, as he decried the proliferation of abandoned and corroding vessels around Tin Can Island and other ports, noting that toxic residues are killing aquatic life with little accountability. Farinto questioned the utilisation of pollution charges collected by the Nigerian Ports Authority and the Nigerian Maritime Administration and Safety Agency, arguing that such funds should be transparently reinvested into blue economy development.
He also linked blue economy growth to capacity building, waste management and renewable energy, citing the Federal Government’s duty waiver on electric vehicles as a positive step that aligns with global sustainability trends.
Farinto advocated a generational shift in governance, calling for the deliberate inclusion of younger, tech-savvy experts in maritime institutions. Drawing parallels with the recent efficiency gains in Nigeria’s passport renewal process, he argued that innovation and data-driven decision-making are impossible without fresh perspectives and reliable statistics. He noted that Nigeria’s economic performance metrics are often supplied externally by bodies such as the International Monetary Fund due to weak domestic data systems.
Tourism, he said, remains another neglected pillar of the blue economy. Recounting his experience in Amsterdam, Farinto described passenger vessels that operate weekend cruises across borders, suggesting Nigeria could replicate similar models linking Lagos to destinations like Cotonou through public-private partnerships. Such initiatives, he argued, would boost leisure travel, create jobs and expand non-oil revenue.
He further lamented the poor state of inland waterways and river ports, as well as the underutilisation of coastal shipping laws that should empower local boat builders and operators. According to him, individuals are currently profiting informally from these gaps while government loses revenue.
Attention was also drawn to the Cargo Defence Fund domiciled at the Nigerian Shippers’ Council, which Farinto said contains over ₦3 billion recovered from shipping disputes but remains idle. He argued that the fund should be deployed to empower Nigerian shippers and industry stakeholders, rather than lying dormant in an escrow account.
Farinto criticised the limited scope of maritime cultural promotion, citing the Argungu Fishing Festival as an example of a world-class attraction that has been localised instead of being packaged for international tourism. With proper organisation and global marketing, he said such events could draw foreign visitors and significantly boost revenue.
Concluding, Farinto said Nigeria is yet to realise the blue economy of its aspirations, warning that billions of naira continue to slip into private pockets due to institutional weakness. He urged stronger collaboration between government and NGOs, supported by targeted subventions, to build a competitive blue economy capable of rivaling traditional revenue sources.
“This is not the blue economy we envisioned,” he said. “But with the right policies, people and political will, Nigeria can still unlock the enormous wealth beneath its waters.”
The celebration also featured tributes from colleagues who lauded Farinto’s commitment and leadership in the maritime sector.
Otunba Babatunde Mukaila a former National Secretary of ANLCA described Farinto as a man of “uncommon passion” whose dedication to the profession remains unwavering. He said, “God should continue to keep him alive, healthy, and blessed with abundance so he can fulfil the destiny expected of him in the maritime sector.” Mukaila added that Farinto listens, encourages debate, and approaches leadership with humility, describing him as “not a docile vice president but one ready and qualified to step into the big role of National President,” a role he executed admirably.
Similarly, Toyin Oyeleke, former chairman of the KLT Chapter ANLCA, praised Farinto’s foresight and influence. “Dr. Farinto is going to go a long way in life by the grace of God,” he said, calling him “a person to reckon with” in the maritime and customs sectors.
The event highlighted the wide respect Farinto commands in the sector, with both colleagues and stakeholders echoing his call for urgent reforms in Nigeria’s maritime and blue economy policies.
