By Myke Uzendu, Abuja
As Ministries, Agencies and Departments (MDAs) take time to present their 2024 budget score card as well as defend 2025 appropriation, Minister of Marine and Blue Economy, Adegboyega Oyetola has asking the joint committee of the National Assembly on Marine Transportation to consider an increase in his 2025 budget to enable the ministry unlock the full potential of the marine economy.
The Minister told the lawmakers that out of 2024 budget with a capital component of Ten Billion, Eight Hundred and Forty-eight Million, Five Hundred and Twelve Thousand, Nine Hundred and Eighty-four naira (N10,848,512, 84), Nine Billion, Nine Hundred and Seventy-three Million, Eight Hundred and Two Thousand, Six Hundred and Thirteen Naira (9,973,802.613) representing 94.19% was implemented.
While presenting the budget before the committee, he lined up some of the projects to be implemented with the 2025 budget. He reminded the lawmakers that the Ministry was newly created and needs lots of funding to be able to make the maritime sector a major foreign exchange earner which will in the nearest future surpass oil.
Answering questions from lawmakers on why the ministry has not been able to generate the much needed revenue and open the nations water ways, he continued, “paucity of fund is hampering investment on marine and blue economy. We are encouraging states to invest in Blue economy under PPP while we provide the framework to do that.
“There is a need to protect the shore line and it is going to be in collaboration with ministry of environment and we need substantial amount to be able to do that.
“Dredging is very important to ensure that our water ways are habitable at all times. If you want us to unlock the potentials in the blue economy, then there is need for proper funding”.
The Minster who broke down the expenditure proposal for the 2025 budget said,
“As a newy created Ministry our initial focus to set up enduring structures and systems for the effective management 6 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 leqal 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 7 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 standard ized crafts and capital dredging at selected lo cations 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 quarantee fast tracked delivery and assured food security.
“Quantum investment through the capital budget is 11 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”.
The Chairman of the joint committee on Marine Transport, Senator Wasiu Eshinlokun reminded the Minister that the marine and Blue economy was created by President Bola Ahmed Tinubu because he recognized the need to diversify the economy and position the maritime sector as a major revenue earner in the country.
Present at the budget presentation were: Hon. Ojema Ojetu, Chairman House Committee Nigeria Inland Water Ways Authority (NIWA); Sen. Sunday Karimi, Vice Chairman, Marine Transport; Hon. Ali Odeyemi Taofeek, Vice Chairman, Port and Harbour; Hon. Kadija Bukar Abbah Ibrahim, Chairperson, NIMASA; Hon. Nnolim Nnaji, Chairman House Committee on Ports and Harbour and several other lawmakers.
Agencies under the minister were also represented by Dr. Pius Akuta, CEO Nigeria Shippers Council; Bola Oyebamiji MD, CEO NIWA; Dr. Kevin Okonna, Acting Rector, Maritime Academy of Nigeria; Igwe Kingsley Onyekachi, Registrar, Council for the Regulation of Freight Forwarding, Nigeria and several Directors from the Ministry.
PIX: The Honourable Minister of Marine and Blue Economy, Adegboyega Oyetola CON, (r) presents the budget of the Ministry and its Agencies to the Chairman, Senate Committee on Marine Transport, Senator Wasiu Eshinlokun (l)
