The allocation of N38.3 billion to the Ministry of Marine and Blue Economy in the 2025 Appropriation Bill has sparked heated debates, with stakeholders questioning the government’s commitment to tapping into Nigeria’s marine resources and the potential of the blue economy.
Disparities in the Budget Breakdown
According to a breakdown of the budget, the total allocation to the Ministry of Marine and Blue Economy stands at N38.3 billion. This includes N35.7 billion for capital expenditure, N744 million for overhead costs, and N1.8 billion for personnel. Experts have expressed concerns that the focus on traditional infrastructure sectors has left the blue economy—an area widely recognized for its potential to diversify Nigeria’s economy—underfunded.
Critics Question the Adequacy of the Allocation
Eugene Nweke, Head of Research at Sea Empowerment and Research Centre (SEREC), has called the allocation “a joke,” given the strategic importance of the newly established ministry. Nweke, who is also a former president of the National Association of Government Approved Freight Forwarders, stressed that the allocated amount falls short of what is needed to meet the ministry’s obligations, particularly in areas like underwater exploration and research.
“The government must provide adequate funding to ensure the ministry realizes its potential,” Nweke argued. He pointed out that the allocation would barely cover the critical tasks required for the ministry’s growth, highlighting the country’s vast maritime potential and the need for a much more substantial budget.
Government’s Prioritization of Traditional Infrastructure
SEREC further criticized the government for its lack of prioritization of the blue economy, noting that the proposed N49.7 trillion expenditure for 2025 significantly exceeds the budget for 2024. Nweke suggested that the allocation reflects the government’s ongoing uncertainty about the potential of the blue economy to drive economic growth, implying that the ministry is still in an experimental phase.
Inadequate Funding for Maritime Agencies
Captain Tajudeen Alao, President of the Nigerian Association of Master Mariners, also weighed in on the issue, emphasizing the challenges faced by the Ministry of Marine and Blue Economy. Alao described the N38.3 billion allocation as insufficient, especially considering the responsibilities of various agencies under the ministry, including those involved in fisheries.
He pointed out that the allocated amount barely covers the take-off grants and the additional responsibilities required for the ministry’s proper functioning.
Need for More Integration and Coordination
Dr. Obiora Madu, Director-General of the African Centre for Supply Chain, argued that the budget allocation must be higher due to the ministry’s new status and the integration required across multiple sectors. Madu, also the president of the Association of Outsourcing Professionals, emphasized the need for coordination between the marine economy and several other ministries, which could complicate the ministry’s operations.
Madu suggested that creating a dedicated Marine Economy Commission might be a better solution to oversee the various interconnected sectors within the blue economy. He also highlighted the importance of tourism within the blue economy, underscoring that the sector’s growth requires significant attention and funding.
Conclusion
The controversy surrounding the N38.3 billion allocation underscores the challenges faced by Nigeria in fully realizing the economic potential of its marine resources. Critics argue that without adequate funding and better prioritization, the Ministry of Marine and Blue Economy will struggle to meet its goals and contribute meaningfully to Nigeria’s economic diversification efforts. The ongoing debate calls for a reevaluation of the government’s commitment to the blue economy and the necessary investments to ensure its success.
