N11.8b budget inadequate for Marine and Blue Economy, Oyetola tells National Assembly

The Minister of Marine and Blue Economy, Adegboyega Oyetola, has told the National Assembly that the proposed total capital budget of N11,770,533,003 of the ministry is inadequate considering the quantum of investments to deliver.

“Quantum investment through the capital budget is necessary for the Ministry to deliver on its lofty mandate and potential. Greater budgetary provision is therefore advocated. The proposed total Capital Budget of N11,770,533,003 (Eleven Billion, Seven Hundred and Seventy Million, Five Hundred and Thirty-three Thousand, Three Naira) and Overhead of N453,856,327 (Four Hundred and Fifty-three Million, Eight Hundred and Fifty-six Thousand, Three hundred and Twenty- seven Naira) though inadequate is for your kind consideration,” Oyetola said.

Oyetola stated this while addressing the Joint Committee of the Senate on Marine Transport and House Committees on Ports and Harbour, Marine Safety, Education and Administration: Inland Waterways and Committee on Shipping Services on the occasion of 2025 Budget Defence on Tuesday, January 21st, 2025.

Defending the budget, the Minister has this to say: Today’s Budget Defence is in respect of the Federal Ministry of Marine and Blue Economy and the laying of the Government Owned Enterprises (GOE’s) budget before you which include the Nigerian Ports Authority (NPA), Nigerian Maritime Administration and Safety Agency (NIMASA), National Inland Waterways Authority (NIWA), Nigerian Shippers’ Council (NSC), Maritime Academy of Nigeria Oron and Council for the Regulation of Freight Forwarding in Nigeria.

For the purpose of clarity, I wish to state that three (3) of the Agencies under the Ministry, namely: NPA, NIMASA, and NSC, are fully self-funding and make significant remittances to the Consolidated Revenue Fund (CRF/TSA), The National Inland Waterways Authority (NIWA), Maritime Academy of Nigeria, Oron derives their funding from both the FGN Budget and Internally Generated Revenue. The Council for the Regulation of Freight Forwarding in Nigeria (CRFFN) based on my passionate plea has been readmitted into the budget for funding albait and erroneously under the Federal Ministry of Transport. I trust that you will rectify this. The five Agencies under the Fisheries and Aquaculture sector (Institutes and Colleges) are expected to come fully under the Ministry in the 2025 Budget.

Honourable Chairman and Members you are aware that the 2025 Budget is tagged “Budget of Restoration : Securing Peace, Rebuilding Prosperity”: therefore the Federal Ministry of Marine and Blue Economy and its Aqencies under the 2025 Budget seek to consolidate and sustain on the achievements and by performances recorded in the immediate past year by focusing on Ports Infrastructural Development, Increased fish production, Maritime Safety and Security, Information Technology Deployment to improve operation and revenue generation, Human Capacity Building and the Effective Technical and Economic Regulation to ensure the strengthening of blue economy in Nigeria.

The total Capital Appropriation for the Federal Ministry of Marine and Blue Economy in 2024 Budget is N10,848,512,984 (Ten Billion, Eight Hundred and Forty-eight Million, Five Hundred and Twelve Thousand, Nine Hundred and Eighty-four naira). The sum of N9,973,802,613 (Nine Billion, Nine Hundred and Seventy-three Million, Eight Hundred and Two Thousand, Six Hundred and Thirteen Naira has been utilized/committed at the end of December, 2024. Remaining balance of N874,710,371 (Eight Hundred and Seventy-four Million, Seven hundred and ten Thousand, Three hundred and seventy-one naira). This will be expended in the 1 Quarter of 2025.

In addition, the sum of 191,086,917 (One Hundred and Ninety-one Million and Eighty-six Thousand, Nine hundred and seventeen Naira) was appropriated for Overhead Expenditure. The sum of N191,086,917 was released up to the Month of December, 2024. The released amount was expended as at 27th December, 2024 The Ministry also received a Take-off Grant of N625,000,000 out of which the sum of N523,763,955 was committed on the Ministrys activities. All activities related to the Fisheries Department were funded from this grant.

As a newly created Ministry, our initial focus is to set up enduring structures and systems for the effective management  of the blue economy sector. The notable deficiencies in the sector such as general infrastructure decay, silted river courses, inadequate fish production, and inadequate river crafts require major attention. The Ministry is therefore initiating several projects and programmes aimed at addressing these challenges. The Ministry as you are aware is pleased and happy with your review of the legal frameworks for the sector. On our part, we are also reinforcing the Ministry’s oversight and monitoring mandate over its Agencies. All of these require greater budgetary provisions.

Under the 2024 Appropriation, the Ministry finalized the preparation of the Nigeria’s National Blue Economy Strategy. the Fisheries and Aquaculture Policy, the Strategic Roadmap for Nigeria’s Blue Economy and the National Policy for Marine and Blue Economy. These documents are the foundation for a sound policy framework for the Ministry.

Also, pursuant to its mandate and the charge given by Mr. President, the Ministry is developing Dry Ports at Ijebu-Ode and Moniya in Ogun State and Oyo State respectively. These IDPs are targeted for fast tracked delivery to decongest the Western Port System. Design consultancies for the project are on-going.

As a quick response to the spate of boat mishaps on our inland water ways occasioned by increased traffic on waterways, the Ministry has targeted the provision of life jackets to the Riverine Communities in the states to boost safety of passengers. Also, major programme to replace rickety wooden boats used for commercial transport with standardized crafts and capital dredging at selected locations on our major rivers are planned for 2025. The Ministry was unable to access the 2024 Capital

Appropriation of the Fisheries and Aquaculture Department. However, in the 2025 Budget proposal, the Ministry is initiating major projects in the fisheries and aquaculture subsector to boost fish production. These projects are deliberately tied to governments capital budgets to guarantee fast tracked delivery and assured food security.

Quantum investment through the capital budget is necessary for the Ministry to deliver on its lofty mandate and potential. Greater budgetary provision is therefore advocated. The proposed total Capital Budget of N11,770,533,003 (Eleven Billion, Seven Hundred and Seventy Million, Five Hundred and Thirty-three Thousand, Three Naira) and Overhead of N453,856,327 (Four Hundred and Fifty-three Million, Eight Hundred and Fifty-six Thousand, Three hundred and Twenty- seven Naira) though inadequate is for your kind consideration.

Finally, let me most heartily thank you all for your unflinching support and cooperation given to the Ministry 12. throughout the past year. I sincerely count on your continued understanding, and urged this August body to consider the propositions and note the very compelling needs of the Ministry to set up enduring policy, operational and administrative structures to deliver the full potentials of the sector.