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Defends N11.7 billion 2025 budget proposal
From Adesuwa Tsan and Idu Jude, Abuja
The Minister of Marine and Blue Economy, Adegboyega Oyetola, has decried the poor allocation to the ministry in the national budget, saying it is hampering the implementation of key projects across the country.
Oyetola also stressed the need for more funds to be allocated for the dredging of numerous inland waterways across the country to improve economic activities and generate revenue for the federal government.
The Minister made this known on Tuesday while defending the 2025 budget proposal before the National Assembly Joint Committee on Marine and Blue Economy.
He emphasised that the lack of funds may hamper the blue economy project if care is not taken, while highlighting that three of the agencies under the ministry—NPA, NIMASA, and NSC—are fully self-funding and make significant remittances to the Consolidated Revenue Fund (CRF/TSA).
Further speaking, he informed the lawmakers that the National Inland Waterways Authority (NIWA) and the Maritime Academy of Nigeria, Oron, derive their funding from both the national budget and internally generated revenue.
Oyetola urged the committee to rectify cases of placement of agencies under the wrong parent agencies, saying, “The Council for the Regulation of Freight Forwarding in Nigeria (CRFFN), based on my passionate plea, has been readmitted into the budget for funding, albeit erroneously under the Federal Ministry of Transport. I trust that you will rectify this. The five agencies under the Fisheries and Aquaculture sector (Institutes and Colleges) are expected to come fully under the Ministry in the 2025 budget.”
Briefing on the performance of the 2024 budget, he said the total capital appropriation for the Ministry of Marine and Blue Economy was N10,848,512,984 (Ten Billion, Eight Hundred and Forty-eight Million, Five Hundred and Twelve Thousand, Nine Hundred and Eighty-four Naira), out of which the sum of N9,973,802,613 (Nine Billion, Nine Hundred and Seventy-three Million, Eight Hundred and Two Thousand, Six Hundred and Thirteen Naira) has been utilised/committed at the end of December 2024.
“The remaining balance of N874,710,371 (Eight Hundred and Seventy-four Million, Seven Hundred and Ten Thousand, Three Hundred and Seventy-one Naira) will be expended in the first quarter of 2025,” he added.
Going further, Oyetola said the sum of N191,086,917 (One Hundred and Ninety-one Million, Eighty-six Thousand, Nine Hundred and Seventeen Naira) was appropriated for overhead expenditure and N191,086,917 was released as of December 2024 and expended.
The former Osun State governor added that the Ministry also received a take-off grant of N625,000,000, out of which the sum of N523,763,955 was committed to the ministry’s activities.
“All activities related to the Fisheries Department were funded by this grant,” he stated.
Speaking on the projected activities of the ministry for 2025, he stated, “As a newly created Ministry, our initial focus was to set up enduring structures and systems for the effective management of the blue economy sector. The notable deficiencies in the sector, such as general infrastructure decay, silted river courses, inadequate fish production, and inadequate river crafts, require major attention.
“The Ministry is, therefore, initiating several projects and programmes aimed at addressing these challenges. The Ministry, as you are aware, is pleased with your review of the legal frameworks for the sector; on our part, we are also reinforcing the Ministry’s oversight and monitoring mandate over its agencies. All of these require greater budgetary provisions.”
For further clarification, he said under the 2024 Appropriation, the Ministry finalised the preparation of Nigeria’s National Blue Economy Strategy, including the Fisheries and Aquaculture Policy, the Strategic Roadmap for Nigeria’s Blue Economy, and the National Policy for Marine and Blue Economy, which are the foundation for a sound policy framework for the Ministry.
He also disclosed that under its mandate and the charge given by Mr. President, the Ministry is developing dry ports at Ijebu-Ode and Moniya in Ogun State and Oyo State, respectively, for fast-track delivery and to decongest the Western Port System. Oyetola said design consultancies for the project are ongoing.
On the spate of boat mishaps on inland waterways occasioned by increased traffic on waterways, he said that the Ministry has targeted the provision of life jackets to the riverine communities in the states to boost the safety of passengers, in addition to the replacement of rickety wooden boats used for commercial transport. This is alongside standardised crafts and capital dredging at selected locations on major rivers planned for 2025.
However, he lamented that “the Ministry was unable to access the 2024 Capital Appropriation of the Fisheries and Aquaculture Department.”
Addressing the 2025 budget proposal, the minister said the Ministry is initiating major projects in the fisheries and aquaculture subsector to boost fish production. These projects are deliberately tied to the government’s capital budgets to guarantee fast-tracked delivery and assured food security, he added.
“The Ministry also has a quantum investment through the capital budget, which is necessary for the Ministry to deliver on its lofty mandate and potential. Greater budgetary provision is therefore advocated.
“The proposed total capital budget of N11,770,533,003 (Eleven Billion, Seven Hundred and Seventy Million, Five Hundred and Thirty-three Thousand, Three Naira) and overhead of N453,856,327 (Four Hundred and Fifty-three Million, Eight Hundred and Fifty-six Thousand, Three Hundred and Twenty-seven Naira), though inadequate, is proposed this year for the kind consideration of the parliament.”
In his remarks, the Chairman of the Senate Committee on Marine and Blue Economy, Senator Wasiu Sani Eshinlokun, assured the Minister that the Senate will support it to achieve its goals in 2025. He added that the committee will continue to perform its oversight duties optimally in the overall interest of the country.
Members of the committee, however, pointed out some grey areas regarding the budget proposal and directed the Ministerial team to, as a matter of urgency and importance, make amends and submit to the committee.