The Minister of Marine and Blue Economy, Adegboyega Oyetola, has sought for better budgetary allocation for the Ministry of Marine and Blue Economy, saying enhanced budget for the Ministry would aide the development of other sectors of the nation.
Oyetola stated this during his ministry’s budget defence proposal before the National Assembly Joint Committee on Marine and Blue Economy in Abuja, adding that the viability of the Ministry to Nigeria’s economic growth and development can not be over emphasised.
According to the Minister, the Ministry’s budget allocation affects the performance of other revenue generating agencies of the government, hence poor budgetary allocation to the ministry would not only affect the implementation of key projects tailored towards supporting the development of the country’s GDP, but also have a negative effect on other revenue generating agencies of the government.
The Minister hinted the joint committee of the self funding nature of three agencies of the ministries; NPA, NIMASA, and NSC, and how they have supported the Consolidated Revenue Fund (CRF/TSA) through their remittances, while noting that the National Inland Waterways Authority (NIWA) and the Maritime Academy of Nigeria, Oron, funding is dependant on national budget and internally generated revenue.
Oyetola urged the committee to rectify the placement of cases of placement of Council for the Regulation of Freight Forwarding in Nigeria (CRFFN), as the five agencies under the Fisheries and Aquaculture sector (Institutes and Colleges) are expected to be fully captured under the Ministry in the 2025 budget.
“The Council for the Regulation of Freight Forwarding in Nigeria (CRFFN), based on my passionate plea, has been readmitted into the budget for funding, albeit 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.”
Speaking on the 2024 budget performance, Oyetola explained that the total capital appropriation for the Ministry of Marine and Blue Economy was N10,848,512,984 (Ten Billion, Eight Hundred and Forty-eight Million, Five Hundred and Twelve Thousand, Nine Hundred and Eighty-four Naira), out of which 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 utilised/committed at the end of December 2024.
While the remaining balance of N874,710,371 (Eight Hundred and Seventy-four Million, Seven Hundred and Ten Thousand, Three Hundred and Seventy-one Naira) will be expended in the first quarter of 2025.
He further said the sum of N191,086,917 (One Hundred and Ninety-one Million, Eighty-six Thousand, Nine Hundred and Seventeen Naira) was appropriated for overhead expenditure and N191,086,917 was released as of December 2024 and expended.
The Minister further explained that the Ministry also received a take-off grant of N625,000,000, out of which the sum of N523,763,955 was committed to the ministry’s activities, and all activities related to the Fisheries Department were funded by the grant.
Speaking on the projected activities of the ministry for 2025, Oyetola said, “ Our initial focus was 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 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 finalised the preparation of Nigeria’s National Blue Economy Strategy, including the Fisheries and Aquaculture Policy, the Strategic Roadmap for Nigeria’s Blue Economy, and the National Policy for Marine and Blue Economy, which are the foundation for a sound policy framework for the Ministry.”
The Minister explained that in line with the ministry’s 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, for fast-track delivery and to decongest the Western Port System.
He also said that the Ministry has targeted the provision of life jackets to the riverine communities in the states to boost the safety of passengers, in addition to the replacement of rickety wooden boats used for commercial transport, standardised crafts and capital dredging at selected locations on major rivers planned for 2025. A measure which he said would forestall the spate of boat mishaps on inland waterways caused by increased traffic on waterways.
The minister also revealed that the Ministry is initiating major projects in the fisheries and aquaculture subsector to boost fish production.
“These projects are deliberately tied to the government’s capital budgets to guarantee fast-tracked delivery and assured food security.
“The Ministry also has a quantum investment through the capital budget, which 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 proposed this year for the kind consideration of the parliament.”
The Chairman of the Senate Committee on Marine and Blue Economy, Senator Wasiu Eshinlokun, in his response assured the Minister of the Senate’s support in achieving its goals in 2025.
He noted that the committee will support the interest of the country through it oversight function, and urged the Minister to take note of some grey areas noted by members if the committee, swing into action and ensure it is well captured.