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According to findings by The PUNCH, the allocation of N38.3bn to the Ministry of Marine and Blue Economy capital expenditure in the 2025 Appropriation Bill has been greeted by heated controversy.
This allocation has sparked concern among stakeholders over the government’s commitment to leveraging Nigeria’s vast marine resources and the economic potential of the blue economy.
The PUNCH reports that a breakdown of the budget showed that the total money allocated to the ministry was N38.3bn, while capital expenditure was N35.7bn, overhead was N744m, and personnel was N1.8bn.
Meanwhile, these experts believe that this disparity reflects a government focus on traditional infrastructure sectors, while the blue economy, which is a promising avenue for economic diversification, remains underfunded. Reacting to the budget allocation, the Head of Research at Sea Empowerment and Research Centre, Mr. Eugene Nweke, said it is puzzling that the Ministry is getting N38.3bn, stressing that the amount sounds like a joke given the strategic importance of the newly created ministry.
He maintained that the government must provide adequate funding for the ministry to realise its potential.
Nweke, who is also a former president of the National Association of Government Approved Freight Forwarders, noted that the allocated amount barely covers underwater exploration and research obligations, which are critical to the Ministry’s evolution and the stakeholders’ expectations. “Given the immense potential of Nigeria’s maritime sector, a more substantial allocation was expected to support its development. Allocating N38.3bn to drive this Ministry’s vision is grossly inadequate,” Nweke said.
SEREC further highlighted the Federal Government’s lack of prioritisation for the ministry, noting that the proposed N49.7tn expenditure in the 2025 Appropriation Bill significantly surpasses the 2024 budget size. According to Nweke, the allocation suggests the government is still experimenting with the ministry and remains unconvinced about the blue economy’s potential to drive economic growth.
The President of the Nigerian Association of Master Mariners, Captain Tajudeen Alao, also criticised the budget, pointing out the challenges posed by the ministry’s responsibilities.
He termed N38.3bn insufficient, especially considering the agencies under it, such as those handling fisheries.
Alao noted that the amount barely covers the required take-off grants and additional responsibilities.
The Director-General of the African Centre for Supply Chain, Dr. Obiora Madu, told The PUNCH on Monday that there is a need to allocate more to the ministry because it’s new and has a lot of integration to do. Madu, who is also the president of the Association of Outsourcing Professionals, stated that one of the major challenges is the interconnection between the marine economy that relates to the ministry and about three other ministries.
“So, is this ministry going to lord it over the other ministries in respect of those issues? That’s a bigger problem that I am not sure is being looked at. I will just say that the best thing would have been to have a marine economy commission,” he said.
“Tourism is heavy on the blue economy. And also, if the argument is based on that there is so much to be done,” he said.