The Director-General of the Nigerian Maritime Administration and Safety Agency, Dr. Dayo Mobereola, says that the blue economy as one of the most underfunded sectors globally, despite its enormous potential to drive inclusive growth and sustainability.
Speaking in Lagos during the commemoration of the 2025 World Maritime Day, organised by the Ministry of Marine and Blue Economy. Themed “Our Ocean, Our Obligation, Our Opportunity,” Dr. Mobereola urged key maritime stakeholders to deliberate on strategies for safeguarding ocean resources while maximising their economic value.
He explained that the World Bank’s Development Goal 14 (Life Below Water) remains the least funded of the United Nations Sustainable Development Goals, with an estimated annual financing gap of $150bn.
“Globally, it is acknowledged that public funding alone will never be enough to close this gap. To scale up financing for ocean health and the sustainable blue economy, the private sector must be involved,” Mobereola stated.
He emphasised the importance of creating regulatory frameworks, incentive structures, and de-risking mechanisms that will attract investment to the maritime sector.
The NIMASA boss also called for a collective approach to managing ocean resources sustainably.
“All of us have different roles to play in safeguarding our ocean. We must work together—whether as government, industry, or community. The ocean is our national trust,” he said.
Mobereola stressed Nigeria’s vast maritime endowment, which covers more than 80 per cent of the country’s trade.
He described the ocean as “the lifeblood of our nation, a reservoir of biodiversity, and a gateway to immense opportunities.”
According to him, environmental stewardship, maritime safety, and security remain core obligations.
He highlighted Nigeria’s advocacy for a just and equitable transition to net-zero greenhouse gas emissions, particularly for Sub-Saharan Africa, small island states, and least-developed countries.
“The plastic pollution crisis is also an issue we are addressing with our Marine Litter and Plastic Action Plan,” Mobereola added, noting that NIMASA is also implementing International Maritime Organisation frameworks to ensure a healthy marine environment.
GIK/APA