The Minister of Marine and Blue Economy, Adegboyega Oyetola has signed the performance bond with heads of agencies under the supervision of the ministry as part of measures to ensure
full implementation of the Marine and Blue Economy Policy.
The bond was signed in Abuja on Tuesday at a two-day sectoral retreat for top management staff of the ministry and its agencies.
Speaking at the event, the minister who stated that the bond was a reflection of the ministry’s collective commitment to accountability, results, and service excellence, reaffirmed his commitment to the full and accelerated implementation of the newly approved National Policy on Marine and Blue Economy.
He tasked the top management staff of the ministry and its agencies to recommit themselves to effective leadership, inter-agency collaboration, and measurable performance outcomes.
Oyetola revealed that the marine and blue economy has been placed at the forefront of the federal government’s economic growth agenda under the Renewed Hope framework, adding that it is incumbent on the ministry’s leadership to drive the vision with urgency and discipline.
He described the retreat as a defining moment for reflection, realignment, and purposeful engagement, adding that it was a crucial opportunity to evaluate the sector’s direction and to reposition it for impactful delivery in line with national expectations.
On the essence of the bond signed, Oyetola said: “The signing of performance bonds must reflect practical, measurable commitments. I expect each agency to define and pursue realistic targets in areas such as Increasing the Marine and Blue Economy’s contribution to Nigeria’s GDP within a defined timeframe and creating new jobs across core sub-sectors in the next 12–24 months.
“Enhancing throughput across our ports and terminals, improving the compliance environment, and boosting revenue from maritime activities should be the focus.”
He added that the goals will be tracked and reviewed.
“Monitoring mechanisms must be institutionalised to assess progress quarterly, and reporting structures must be strengthened for transparency and accountability.”
Highlighting his expectations following the bond signed, the Minister said: “We must eliminate duplication, align priorities, and work as a single ecosystem and adopt technology and data-driven management from port operations to fisheries monitoring.”
The minister also highlighted recent milestones, including ongoing efforts to modernise port infrastructure, implementation of the national single window platform, improvements in port efficiency, enhanced maritime security, progress in aquaculture and fisheries, and the commencement of the long-anticipated disbursement process of the Cabotage Vessel Financing Fund (CVFF).
He added that the recent approval of the national policy on Marine and Blue Economy by the Federal Executive Council is a foundational achievement that sets the strategic framework for long-term sectoral transformation.
Oyetola also highlighted Nigeria’s ongoing bid for a Category C seat on the International Maritime Organization (IMO) Council, describing it as a strategic national objective.
He stressed that the Ministry would continue to lead on diplomatic engagement and international outreach, but that every agency must play its part in showcasing Nigeria’s readiness to continue to lead and contribute meaningfully to global maritime affairs.
The Permanent Secretary of the ministry, Olufemi Oloruntola, described the retreat as a critical platform for identifying and resolving the barriers to effective execution, strengthening inter-agency synergy, and defining the specific steps needed to position the Marine and Blue Economy as a major driver of national development in alignment with global trends.
He noted that the performance bonds signed by heads of agencies would be tied to clearly defined Key Performance Indicators (KPIs).
