Nigeria Seeks Global Investment to Boost Maritime Economy

The Nigerian government is actively seeking international investment and expertise to improve its shipping industry and develop its blue economy. Minister of Marine and Blue Economy, Adegboyega Oyetola, made this announcement while leading Nigeria’s delegation at the International Maritime Organisation (IMO) Council meeting in London.

Oyetola emphasized that developing maritime nations like Nigeria need access to technical knowledge, support from institutions, and investment opportunities to compete in the global shipping market. He stated, “Nigeria is committed to building a competitive and sustainable blue economy.”

At the IMO Council, which is reviewing financial plans for the next two years, Nigeria aims to secure more support for technical cooperation and capacity-building. This support is seen as vital for strengthening maritime institutions and improving regulations to create a favorable investment environment.

Another key topic at the Council is the protection of important shipping routes, especially given rising security threats to commercial vessels. Nigeria plans to share its experiences in fighting piracy and maritime crime in the Gulf of Guinea to promote stronger international cooperation on security measures.

Oyetola highlighted the importance of collaboration among coastal nations, international organizations, and maritime stakeholders to tackle maritime insecurity. He stated that effective coordination is crucial for addressing these challenges.

The minister also stressed the need to ensure the safety and welfare of seafarers, who play a crucial role in global trade. He called for stronger international measures to protect maritime workers and uphold their rights.

This five-day meeting, which started on November 2 and will conclude on November 6, 2026, offers Nigeria a platform to engage in discussions about international shipping policies and to seek partnerships for development.