Chief Raymond Gold (National PRO, WABOTAN)
For me I don’t think the budget is too small. The Ministry has agencies and departments that should be able to think outside the box and then create revenue for the ministry. Not necessarily through a kind of extortion or exploitation gaining ways of making money and I see that ministry as well. We are in a country where everything deals around the money the government brings. That is the excitement and that is why there isn’t any kind of professionalism or push. That is why most of the time the most deserving is not the most qualified. With the agencies involved in this Ministry which is the maritime industry, that is not a budget that should be seen as too small. They should be able to work with that and then attract people with creative thinking who can attract more money to the coffers of the government.
Dr. Muda Yusuf (Founder/CEO, CPPE)
I don’t think the ministry is allowed to retain the revenue of NIMASA and NPA. But generally being a new ministry, it needs proper funding. And because the government has been talking about optimizing the potentials of the Marine and Blue economy, you can’t maximize potentials without adequate funding, and the funding of course has to be on the right investment, not just funding for funding sake. This is because they are working towards making Nigeria a maritime hub for the sub-region.
Clinton Okoro (APFFLON PRO, Tin Can Chapter)
We don’t really understand what is going on at the Marine and Blue Economy Ministry. The Ministry is a new one and there are so many things involved in the blue economy. The blue economy Ministry is a very robust one if well harnessed. Almost 60 to 70 percent of our GDP can come from the Maritime industry. People are not trying to look inward for a vision on what can be done and what they can do through that ministry. I won’t blame anybody because it is just a new ministry.
Captain Adetayo Saliu (Chairman, Merchant Navy Shipping Zonal Council)
It depends on what their actual plan for the year is. Agencies under the ministry also generate funds. I believe they must have put that into consideration. Agencies like NIMASA, NIWA, Oceanography and other agencies generate funds for the ministry. We cannot say it is not enough or it is enough. It depends on what their plans and project they want to execute. To us they are not doing enough and there are many issues on ground that should be addressed.
Innocent Elum (BoT Secretary, AREFFN)
The Marine and Blue economy ministry is a ministry that also makes money or generates revenue for the government. So, they can make do with the budget allocation. If they can sincerely manage the allocation, of course it will be enough for them with the millions they are raking in from maritime operations. The budget allocation is not too small for the ministry.
Gbolahan Adu (NISA Publicity Secretary)
I don’t think it is either too small or too big. What is important is what impact it makes in the lives of the maritime industry stakeholders. What impact has the previous budget made in the lives of ship owners, freight forwarders, and all others stakeholders in the industry? When this is addressed, then we would be able to determine if the budget is small or not.
Comrade Ifeanyi Abel Chukwu (Admin/Asst. Secretary, Merchant Navy)
Whether the budget is too small depends on the ministry’s specific goals, priorities, and expected outcomes. A more detailed analysis of the budget’s allocation and the ministry’s plans would provide a clearer understanding of its adequacy. Though The Ministry of Marine and Blue Economy’s ₦35.75 billion budget seems modest, especially considering the country’s massive debt burden. While it’s difficult to determine the ideal budget size without more contexts, this allocation might be insufficient to drive significant growth in the marine and blue economy sector.
The ministry’s focus areas, such as ports infrastructural development, modernization of Apapa and Tin Can ports, and rehabilitation of Eastern ports, require substantial investments. The budget might struggle to cover these expenses, potentially hindering the sector’s progress. However, it’s essential to acknowledge that the budget is part of a larger fiscal plan. The government might have allocated funds to other sectors that will indirectly benefit the marine and blue economy. Additionally, the ministry might explore alternative funding sources or partnerships to supplement its budget.
