Manny Ita –
The Minister of Marine and Blue Economy has warned that the current N10.5 billion budgetary allocation to the ministry is insufficient to modernize the nation’s ports and may hinder the achievement of key maritime targets set for 2026. The minister raised the concern during a budget performance review session in Abuja, where he emphasized the urgent need for expanded funding to address aging infrastructure and operational bottlenecks across major seaports.
Describing the allocation as “grossly inadequate for the scale of transformation required,” the minister stated that comprehensive port modernization involves heavy capital investment in equipment upgrades, channel dredging, digital systems, and security architecture. “With N10.5 billion, we can only address limited operational gaps,” he said. “If we are serious about meeting our 2026 maritime goals, we must align our funding with the magnitude of the task before us.”
The minister explained that Nigeria’s ports are under increasing pressure due to rising cargo volumes, regional competition, and global standards demanding automation and efficiency. He noted that without substantial upgrades, the country risks losing transshipment traffic and foreign direct investment to neighboring maritime hubs. “Modern ports are technology-driven and capital-intensive,” he added. “Failure to modernize will not only slow trade facilitation but also affect revenue generation.”
Stakeholders in the maritime sector have echoed similar concerns, pointing to congestion, turnaround delays, and outdated cargo-handling systems as persistent challenges. A port operator who attended the session remarked that “infrastructure deficits directly translate into higher costs for importers and exporters,” warning that inefficiencies could undermine Nigeria’s competitiveness under the African Continental Free Trade Area framework.
The minister further stressed that the blue economy holds significant potential for job creation and economic diversification but requires deliberate investment in infrastructure, safety, and regulatory reforms. “Our maritime ambitions for 2026 include improved port efficiency, enhanced coastal security, and expanded shipping capacity,” he said. “These objectives cannot be achieved without commensurate financial backing.”
He called on lawmakers and relevant authorities to reconsider the funding envelope during subsequent budget reviews, arguing that strategic investment in port modernization would yield long-term economic benefits. “The returns on maritime infrastructure are substantial,” he noted. “What we require now is the political will to fund it adequately.”
The warning underscores growing concerns within the sector that underfunding could delay reform timelines and weaken Nigeria’s position as a leading maritime gateway in West Africa. Further deliberations on the ministry’s budget are expected in the coming weeks as discussions continue between the executive and legislative arms of government.
