Business Maritime

Minister urges maritime agencies to achieve set targets for national development

The Minister of Marine & Blue Economy, Mr. Adegboyega Oyetola, has called upon heads of agencies within the ministry to diligently pursue the objectives outlined in the Performance Bond he signed with President Bola Tinubu.

In a statement released in Lagos on Wednesday, Oyetola emphasised the significance of executing the performance bond, alongside completing vital projects within the ministry, to elevate Nigeria’s status as a leading maritime nation globally.

Encouraging heads of maritime agencies to strive for Nigeria’s prominence in the maritime sector, the minister highlighted the importance of harnessing the nation’s blue economy potential to enhance revenue diversification, ensure sustainable development, and promote environmental stewardship.

Addressing participants at the inaugural ministerial retreat, organised for the ministry and its affiliated agencies, Oyetola stressed the retreat’s role in translating the president’s directives on the ministry’s targets and objectives into actionable plans.


“The maritime sector holds vast potential, not just for economic expansion but also for diversifying our revenue streams and creating ample job opportunities for Nigerians. I am confident in our capacity to achieve our Key Performance Indicators (KPIs). We are here to brainstorm on delivering these KPIs,” Oyetola stated.

He further highlighted ongoing projects, such as the Funtua Inland Dry Port, emphasising the need for prompt completion and seeking insights from the Nigerian Shippers Council on expedited delivery within the stipulated timeline.

The minister also outlined the ministry’s mandate, vision, and mission, underscoring the importance of these elements in guiding collective efforts towards achieving the ministry’s objectives.

Dr. Magdalene Ajani, the Permanent Secretary of the ministry, highlighted that the retreat aimed to foster collaboration among top management officials to actualize the ministry’s objectives, particularly aligning with the signed Performance Bond’s directives and timelines.


“The minister has inked a Performance Bond with the President, serving as an evaluative tool for the ministry’s progress. This bond delineates initiatives, deliverables, key performance indicators, timelines, and targets that the sector must achieve,” Ajani explained.

The retreat seeks to unify efforts, demystify the ministry’s core mandate, and establish a roadmap towards fulfilling the Performance Bond’s objectives, in line with positioning Nigeria as a top earner in the marine and blue economy sector.

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