The Federal Government has earmarked ₦149.24 billion for Nigeria’s marine and blue economy in the 2026 Appropriation Bill, with ₦136.4 billion directed towards capital expenditure, signaling an aggressive push to develop infrastructure, enhance safety, and grow fisheries and other blue economy sectors.
Details of the budget show ₦10.93 billion allocated for personnel costs and ₦1.87 billion for overhead, over 91 per cent of the allocation is devoted to capital projects.
The budget targets major interventions, including dredging of inland waterways across Lagos, Lokoja–Onitsha–Baro, Calabar–Akwa Ibom, and Hadejia–Jama’are River corridors; construction of jetties; revitalisation of Sapele Seaport; development of fish terminals and harbours; and procurement of patrol boats, trawlers, and safety equipment to reduce waterway accidents.
Funding is also earmarked for marine protected areas, marine litter control, pilot blue energy projects in coastal communities, fisheries stock assessments, artisanal fishermen support, and port reception facilities in line with MARPOL Convention obligations.
The budget further provides for Nigeria’s participation in International Maritime Organization (IMO) statutory programmes, the United Nations Convention on the Law of the Sea (UNCLOS), and the International Seabed Authority.
Comparatively, checks by our correspondent reveals that the ₦149.24 billion allocation for the Marine and Blue Economy surpasses the ₦87.31 billion earmarked for the Federal Ministry of Aviation and Aerospace Development, reflecting a policy shift towards waterways, fisheries value chains, port efficiency, and coastal resource development as scalable growth engines.
Analysts note that since over 80 per cent of Nigeria’s international trade passes through seaports, the investment is intended to reduce logistics costs and improve multimodal transport integration.
While the Ministry of Education remains one of the largest beneficiary of the 2026 budget with ₦257.85 billion, the focus on marine capital projects positions the sector as a strategic frontier for economic diversification beyond oil.
Reacting to the appropriation bill, experts and industry stakeholders welcomed the capital-heavy budget but cautioned that its impact would depend on proper execution and coordination.
Dr. Muda Yusuf, Executive Director of the Centre for Petroleum Policy and Economics (CPPE), said the sector requires significant investment in infrastructure, particularly ports, to accommodate larger vessels and improve operational efficiency. He stressed that timely release of the budget and internal revenue generation by agencies such as the Nigerian Ports Authority (NPA) could enhance impact.
“Even with ₦136.4 billion for capital projects, the sector must complement this with internally generated funds to ensure projects are completed and sustainable,” Yusuf said.
He further noted that the capital-intensive nature of the allocation underscores Nigeria’s intent to unlock the economic potential of its oceans, rivers, and coastal areas, spanning shipping, fisheries, aquaculture, tourism, marine energy, and environmental protection.
If efficiently implemented, he said the 2026 budget could improve food security, create jobs, strengthen port competitiveness, reduce waterway accidents, and position Nigeria as a regional maritime hub.
However, Otunba Frank Ogunojemite, President of the Association of Professional Freight Forwarders of Lagos (APFFLON), questioned the rationale for the high allocation.
He argued that agencies under the ministry, including NPA and the Nigerian Maritime Administration and Safety Agency (NIMASA) generate substantial revenue and may not require such massive appropriations.
“If the ministry has such funding, how can they justify its use? For agencies that already fund themselves, this allocation seems more than enough,” Ogunojemite said.
Lawmakers are expected to continue scrutiny of the 2026 Appropriation Bill, with the blue economy allocation emerging as a clear indicator of the government’s commitment to economic diversification beyond oil
