On Monday, the Federal Government greenlit a ₦286 billion investment package focused on upgrading maritime infrastructure and enhancing safety across Nigerian waters. President Bola Tinubu presided over the Federal Executive Council meeting in Abuja where these strategic initiatives were finalized.
Minister of Environment Balarabe Abbas Lawal, speaking on behalf of Marine and Blue Economy Minister Gboyega Oyetola, confirmed that four key projects were sanctioned. These efforts are designed to optimize port functionality and improve security within coastal and inland regions.
The council authorized ₦59.05 billion for two marine pollution control vessels intended to clean up waste and plastic debris. Additionally, ₦80.03 billion was allocated for six pilot cutter boats to assist the Nigerian Ports Authority in navigating ship movements. To increase emergency preparedness, the government approved ₦34.06 billion for two specialized firefighting vessels to protect oil terminals and port facilities.
Finally, a contract worth ₦112.85 billion was secured for the capital and maintenance dredging of the Escravos Channel. This public-private partnership aims to remove navigational hazards and align local operations with global safety standards. These investments collectively target long-term growth for Nigeria’s blue economy.