Senators and members of the House of Representatives on Tuesday called for increased funding for the Ministry of Marine and Blue Economy in order for the country to reap the huge potential of the sector.
They spoke at the defence of the ministry’s 2025 budget at the National Assembly in Abuja by the Minister, Mr Gboyega Oyetola.
He appeared before the Senate and House of Representatives Joint Committees on Marine and Blue Economy.
The ministry was given an envelope of N11.7 billion for its operations this year, a figure the lawmakers said was far too low for the responsibilities vested in it.
For instance, the Chairman, Senate Committee on Marine and Blue Economy, Sen. Wasiu Eshinlokun, called for early preparations of the 2026 budget of the ministry for the tasks before it.
“The right thing to do is that the 2026 budget of the ministry must start now.
“You have so much to do in the Marine and Blue Economy sector”, he said
The lawmakers listed the dredging of the Rivers Niger and Benue as well as the development of coastal infrastructure to make Nigeria the hub of maritime business in Africa.
Speaking while presenting the estimates, Oyetola, a former governor of Osun State, said the quantum of investment through the capital budget was 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.
“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)”.
He explained that the National Inland Waterways Authority (NIWA), and Maritime Academy of Nigeria, Oron derive their funding from both the FGN Budget and Internally Generated Revenue (IGR).
The Council for the Regulation of Freight Forwarding in Nigeria (CRFFN) based on my passionate plea has been readmitted into the budget for funding 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. I also count on your cooperation on this.
ALSO READ: Ondo: Man sentenced to 21 years in prison for stealing tithe box
“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 agencies 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 minister said “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.
Oyetola commended the National Assembly for the unflinching support and cooperation given to the ministry throughout the past year.
“I sincerely count on your continued understanding, and urge 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” he stated.
In his welcome address, the Senate Committee Chairman on Marine Transport, Sen. Wasiu Eshilokun Sanni noted that the exercise is a Constitutional responsibility which mandates all government corporations and enterprises to submit their schedule estimates of revenue and expenditure for each fiscal year to the National Assembly for approval.
“The National Assembly will continue to champion effective oversight over ministries, departments and agencies of government, so as to promote the art of transparency and accountability in the public service.
“We shall therefore appreciate the maximum cooperation from all the Agencies towards carrying out this function for the overall interest of the nation”, he stated.
READ MORE FROM: NIGERIAN TRIBUNE