By Oluyinka Onigbinde
The Ministry of Marine and Blue Economy has been allocated a modest ₦35.75 billion for capital expenditure in the 2025 Appropriation Bill, a figure that starkly contrasts with the significantly larger budgets of the Ministries of Transportation and Aviation.
This allocation has sparked concern among stakeholders over government’s commitment to leveraging Nigeria’s vast marine resources and the economic potential of the blue economy
Findings by Shipping Position Daily reveal that while the Ministry of Marine and Blue Economy received an additional ₦2.58 billion for recurrent expenditure, its total allocation remains far below what many stakeholders believe is needed for the sector to succeed in 2025.
In comparison, the Ministry of Transportation received ₦223.80 billion for capital projects, and the Ministry of Aviation and Aerospace was allocated ₦93.03 billion.
According to experts in the industry, this disparity reflects a government focus on traditional infrastructure sectors, while the blue economy; which is a promising avenue for economic diversification remains underfunded.
Chief Eugene Nweke, Head of Research at Sea Empowerment and Research Center (SEREC), described the allocation as disappointing, expressing surprise at the significant disparity.
He stated that SEREC initially believed the Ministry of Marine and Blue Economy’s allocation was ₦357 billion.
He however said after carefully reviewing the budget tabulation, it was discovered to be a mere ₦35billion, which he described as laughable given the strategic importance of the ministry.
He noted that the allocated amount barely covers underwater exploration and research obligations, which are critical to the ministry’s evolution and the stakeholders’ expectations.
Nweke argued that given the immense potential of Nigeria’s maritime sector, a more substantial allocation was expected to support its development. Allocating ₦35.75 billion to drive this ministry’s vision, he said, is grossly inadequate.
SEREC further highlighted the federal government’s lack of prioritization for the ministry, noting that the proposed ₦49.7 trillion expenditure in the 2025 Appropriation Bill significantly surpasses the 2024 budget size.
According to Nweke, the allocation suggests the government is still experimenting with the ministry and remains unconvinced about the blue economy’s potential to drive economic growth.
Captain Tajudeen Alao, President of the Nigerian Association of Master Mariners, also criticized the budget, pointing out the challenges posed by the ministry’s responsibilities.
He described ₦35 billion for the Marine and Blue Economy Ministry as insufficient, especially considering the agencies under it, such as those handling fisheries. He noted that this amount barely covers the required take-off grants and additional responsibilities.
Babatunde Mukaila, a former National Secretary of the Association of Nigerian Licensed Customs Agents (ANLCA), emphasized the need for the ministry to harness the overwhelming opportunities within the sector.
He called on the Ministry of Marine and Blue Economy to rise to the stupendous opportunities available, while urging Nigeria’s economic forums and budget decisions to be based on ambitious and verifiable indices.
Captain Alfred Oniye, a maritime expert, however argued that the ministry has the potential to thrive without a significant increase in its budget, provided it is managed strategically and sustainably.
He said the Ministry of Marine and Blue Economy can sustain itself and contribute significantly to Nigeria’s economy with competent leadership and strategic management, even with limited budget.
Further findings by Shipping Position Daily uncovered a notable gap in recurrent expenditure allocations. While the Ministry of Marine and Blue Economy received ₦2.58 billion for its operations, the Ministry of Transportation was allocated ₦32.93 billion, and the Ministry of Aviation and Aerospace ₦12.92 billion.
The overall 2025 budget of ₦49.74 trillion is heavily burdened by a ₦16.33 trillion debt servicing obligation, which is over 30% of the total budget, and which squeezes funding for critical and emerging sectors like the blue economy.
Critics argue that the budget allocation reflects a lack of political will to explore the blue economy’s full potential. They warn that the ministry’s limited funding may hinder Nigeria’s efforts to diversify its economy and reduce reliance on oil exports.
