Tag: Adegboyega Oyetola

• Importers, agents get Customs’ 30-day deadline to clear consignments 

Minister of Marine & Blue Economy, Adegboyega Oyetola, yesterday said the implementation of the National Single Window (NSW) initiative, a centralised electronic trade platform designed to streamline trade processes for importers and exporters, will boost the Federal Government’s revenue generation by $3 billion annually.

He spoke in Lagos at the opening session of the three-day ‘National Single Window Stakeholders’ Forum.’

According to him, the NSW system is strategically positioned to enhance transparency by reducing redundancies in the trade process, which will allow for the elimination of revenue leakages—an amount estimated to exceed $3 billion annually.

The minister added that once fully implemented, the system could slash average cargo clearance times at Nigerian ports by as much as 60 per cent.

He noted that this remarkable efficiency gain is expected to improve port operations and strengthen Nigeria’s competitiveness in global trade.

“Leveraging the implementation of a National Single Window for Nigeria in the trade industry aligns perfectly with our President Bola Tinubu’s Renewed Hope Agenda.

“It is a strategic enabler for port efficiency, improved revenue collection, and enhanced transparency,” Oyetola said.

The concept of the National Single Window was introduced in 2016 but was revived and commissioned by President Tinubu on April 16, 2024, to improve trade facilitation, enhance Federal Government revenue and improve national security at Nigeria’s borders.

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The essence was to leverage NSW to overcome existing challenges while unlocking opportunities for enhanced trade efficiency in the Nigerian trade system, where current import and export procedures present a major obstacle to trade.

Because trade processes are cumbersome, inefficient, and lack transparency, this results in significant government revenue leakages and low ranking in ease of doing business, amongst other challenges to the different stakeholders in the trade ecosystem.

Oyetola, while noting that countries such as Singapore and the Netherlands have demonstrated how Single Window systems can revolutionise port operations, elevating their status as global trade hubs, said Nigeria can achieve similar success by fully embracing this initiative.

He said, for instance, that the cost of doing business at Nigerian ports can be up to 40 per cent higher than in other West African countries due to delays and administrative bottlenecks, leading to an estimated annual revenue loss of N2.5 trillion within the business community.

“By streamlining operations, improving transparency, and minimising delays, the system not only drives cost savings but also strengthens overall trade facilitation.

“The cumulative impact across all areas, including reduced costs, enhanced efficiency, and greater transparency, ultimately contributes to the overall ease of doing business,” Oyetola stated.

Executive Chairman of Federal Inland Revenue Service (FIRS), Dr. Zacch Adedeji, said the NSW project is not just a step towards improving Nigeria’s trade processes but a leap towards unlocking the vast potential of Nigeria’s, contributing significantly to the realization of a $1 trillion economy by 2031, in line with the President’s Renewed Hope Agenda.

Adedeji, who chairs the National Single Window Steering Committee, said: “The project represents a pivotal stride in Nigeria’s journey towards economic transformation, as it will significantly enhance the country’s revenue collection capabilities, for instance.

“By streamlining processes, reducing leakages, and improving data accuracy, we can maximise revenue generation from import and export activities.

“These increased revenues will be crucial for funding critical infrastructure projects, improving public services, and driving overall economic development in the country.”

No fewer than 3,000 residents of Osun State have benefitted from Ilerioluwa Empowerment Initiative of Minister of Marine and Blue Economy, Adegboyega Oyetola.

The Executive Director, Marine and Operations, Nigeria Ports Authority (NPA), Olalekan Badmus, made this known yesterday in a statement to commemorate his one year in office.

Badmus lauded President Bola Ahmed Tinubu, Oyetola and members of the All Progressives Congress (APC) in Osun State for their support in the national assignment given to him.

He said with the mentorship of Oyetola, Osun State residents had benefited from Ilerioluwa Initiative, which focused on micro businesses, education support and community-oriented infrastructure. 

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He said: “Efforts were put together to promote small scale businesses by distributing motorcycles, deep freezers and 50 units of 2.5KVA generators to youths and traders. 

“Seven hundred and fifty women were given start-up fund to support their businesses via Ilerioluwa Entrepreneurship Support Scheme.

“Over 1,000 students benefited from Ilerioluwa Education Support Scheme. Communities in Osun State also benefited from local infrastructure projects of street lights and boreholes by the initiative.”

He assured residents that Ilerioluwa Initiative would contribute to the Renewed Hope Agenda.

The Minister of Marine and Blue Economy, Adegboyega Oyetola, has highlighted the need for adopting modern audit practices to optimise revenue generation, reduce inefficiencies, and close governance gaps within the Marine and Blue Economy sector.

Oyetola, who was represented by the Permanent Secretary of the Ministry, Olorutola Olufemi, made the call at the opening of a two-day workshop titled “Modern Audit Techniques as a Panacea to Improve Internally Generated Revenue” held in Abuja.

The Minister stressed that the workshop represents a significant step toward achieving transparency, accountability, and operational efficiency in the sector.

“Challenges such as revenue leakages, inefficiency, and governance gaps have continued to limit our ability to fully optimise internally generated revenue. This workshop provides a valuable opportunity for learning and improvement,” he said.  

“As auditors, your role extends beyond reviewing accounts; you are essentially to help organisations enhance their objectives by identifying areas for improvement and ensuring accountability,” Oyetola noted, emphasising the critical role auditors play in accomplishing these goals.

The Permanent Secretary further urged participants to actively engage with experts and case studies during the workshop while emphasising the Marine and Blue Economy sector offers untapped opportunities for revenue diversification at a time when Nigeria is looking beyond oil to strengthen its economy. 

“From fisheries and shipping to marine tourism, the sector holds immense potential for growth,” he added.  

In his remarks, Director in the Audit Department of the Office of the Auditor General of the Federation (OAuGF), Uchechukwu Nwaede Ogwe, who represented the Auditor General, applauded the initiative. He described the workshop as a platform for stakeholders to collaborate, exchange ideas, and formulate actionable strategies.  

Ogwe emphasised the need for accountability and reform within the sector, stating, “The Marine and Blue Economy presents significant revenue opportunities through fishing licenses, oil and gas royalties, customs duties, and marine tourism. However, inefficiencies in collection systems and governance gaps remain key challenges that require urgent attention.”

Read Also: Oyetola promises to unlock maritime sector’s potential through national policy

He assured the ministry of the continued support of the Office of the Auditor General of the Federation in driving reforms and strengthening internal audit mechanisms to ensure efficient revenue collection.  

Earlier in her welcome address, Director of Internal Audit at the Ministry of Marine and Blue Economy, Jumbo Obenachi Renner, underlined the need for innovative and globally aligned audit strategies to unlock the sector’s potential.  

“To harness the immense opportunities within the Marine and Blue Economy sector, it is imperative to adopt innovative strategies, robust practices, and forward-thinking approaches that align with global best practices,” Renner said.  

She explained that the workshop was designed to equip auditors with the tools and knowledge required to rethink conventional methods and embrace advanced techniques that foster transparency and accountability.  

The Minister of Marine and Blue Economy, Adegboyega Oyetola, has reiterated the federal government’s dedication to developing Nigeria’s maritime sector as a key driver of national growth, in line with the African Union’s Agenda 2063.

Speaking at the second and final executive technical validation workshop for the national policy on marine and blue economy held at the Abuja, Oyetola described the framework as a crucial step toward positioning Nigeria as a global leader in the blue economy.

He highlighted the ministry’s recent series of validation workshops and stakeholder engagements as evidence of its vision for the sector. 

The workshops brought together industry experts, academics, and researchers to chart a path for sustainable maritime development.

“This affirms and reflects the ministry’s unwavering commitment to the growth and advancement of the sector,” Oyetola stated.

Emphasising the maritime sector’s importance to Nigeria’s future economy, the minister called for the integration of marine and blue economy strategies into the country’s broader economic goals. 

Read Also: Oyetola promises to unlock maritime sector’s potential through national policy

He noted that a robust maritime policy could establish Nigeria as a global leader in the blue economy while driving inclusive growth.

‘‘This engagement aims to restore our priorities and solidify a framework for advancing the maritime sector over the next few years. As you are aware, a key factor in driving maritime development is the establishment of a strong policy framework.” Oyetola added.

Permanent Secretary of the ministry, Oloruntola Olufemi, indicated that the purpose of the final executive validation workshop was to reiterate the successes and accomplishments of the previous engagement. 

He also observed that the marine sector is rapidly becoming economically significant and transforming the fortunes of numerous countries on a global scale.

He said: “This workshop is an opportunity to consolidate those efforts and finalise a framework that will guide the sustainable growth of the Blue Economy in Nigeria. Over the past few months, we have witnessed the growing significance of the marine sector in global discourse.” 

And to the stakeholders, Oloruntola declared: “As we face the challenges and opportunities that lie ahead, this policy represents a forward-thinking approach to harnessing the immense potential of our blue economy.”

Marine and Blue Economy Minister Adegboyega Oyetola has said the ministry is planning to unlock the potential in the maritime domain through a national policy.

The minister also said the draft copy of the validated National Policy on Marine and Blue Economy would be submitted to the National Assembly next month to ensure speedy passage into law.

He assured Nigerians that the Federal Government was determined to unlock the potential of the marine resources and establish the sector as a key driver of national prosperity in line with Africa’s Agenda 2063.

Oyetola spoke yesterday in Abuja at the final technical validation workshop on: National Policy on Marine and Blue Economy.

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The minister, who stressed the need for a national policy in the sector, added: “This strategic initiative reflects President Bola Ahmed Tinubu’s determination to unlock the vast potential of our marine resources, expand opportunities beyond land-based development, and establish this sector as a key driver of national prosperity in line with Africa’s Agenda 2063.

“A key factor in driving maritime development is the establishment of a strong policy framework. Many African countries are intensifying their cooperation to enhance knowledge of the blue economy and adopt policies that will unlock its vast potential. Nigeria is no exception.

“The ministry has a clear vision for the sector, and our presence here today reaffirms the commitment of President Bola Ahmed Tinubu’s Renewed Hope Agenda to exploring the maritime future of our great country.”

Oyetola said Nigeria’s maritime domain holds immense potential, adding that it is a crucial pillar to the country’s future economy.

The ministry’s Permanent Secretary Olufemi Oloruntola said the national policy represented a forward-thinking approach to harnessing the immense potential in the blue economy sector.

He said: “Nigeria is uniquely positioned to benefit from its vast marine resources, and it is through policies like this one that we can unlock these opportunities for economic growth, job creation, and environmental sustainability.”

Minister of Transportation and Blue Economy, Adegboyega Oyetola, has lauded House of Representatives Committee  on Shipping Services for supporting advancment of Nigerian Shipping and Port Economic Regulatory Agency Bill.

Oyetola, who said this when members visited the ministry on oversight yesterday, said the House backing was critical.

He noted the need for continued collaboration to harness potential of the blue economy.

The minister highlighted significance of blue economy as a key driver for economic growth and reiterated the government’s commitment to creating enabling frameworks for its development.

Chairman of the committee, Abdussamad Dasuki, reaffirmed their dedication to fostering a robust partnership with the ministry.

Dasuki noted the legislative role in shaping Nigeria’s maritime policies and ensuring sustainable growth.

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“Our meeting focused on strengthening collaboration, particularly on the bill, which has been passed by National Assembly. We reviewed policy frameworks developed by the ministry to support blue economy agenda,” he said.

Dasuki underscored the strategic importance of blue economy in diversifying Nigeria’s revenue base and creating employment opportunities.

He said the committee was commited to ensuring legislative alignment with the ministry’s objectives.

“This was an opportunity to put heads together and identify areas for mutual support. The committee remains steadfast in its resolve to support the ministry’s efforts to grow maritime and, by extension, the national economy,” he said.

The meeting marks another milestone in the ministry’s drive to solidify partnerships with legislative bodies to advance the maritime sector.

Both parties acknowledged the role of legislative backing in establishing policies to transform the industry and enhance global competitiveness.

Nigerian Shipping and Port Economic Regulatory Agency Bill, a cornerstone of the discussions, seeks to address gaps in the sector by creating a regulatory framework that fosters efficiency and economic growth.

•Its duplication of roles may strain resources, says Navy

Marine and Blue Economy Minister Adegboyega Oyetola has endorsed the establishment of the Nigerian Coast Guards to support the development of the Marine and Blue Economy sector.

Oyetola announced his approval at a public hearing organised by the Senate Committee on Marine Transport on the Nigerian Coast Guards Establishment Bill, 2024.

The minister noted that the Nigerian Coast Guards would act as a vital complement to the Nigerian Navy.

He said the Bill would foster a safe and sustainable maritime environment that aligns with international best practices. Oyetola said: “This public hearing is a testament to the growth of our democracy and the exemplary leadership of Senator Godswill Akpabio, the President of the Senate. 

“In particular, the ministry wishes to commend the efforts of the Senate Committee on Maritime Transport and its Chairman, Senator Wasiu Eshinlokun Sanni, for this initiative.

This depth of synergy between the aspiration of the Executive arm of government and that of the Legislature should be encouraged. It is a cardinal objective of the Renewed Hope Agenda of this administration, led by our pragmatic President, Bola Ahmed Tinubu.

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“The Federal Ministry of Marine and Blue Economy is, therefore, pleased to applaud the initiators of this Bill and the entire National Assembly, particularly this esteemed Senate, for this noble move and its dedication to Nigeria’s blue economy. The ministry expresses its support and endorsement of the proposed Bill and strongly recommends that the Bill be given objective consideration.

“Nigeria has a vast coastline of 853 kilometres, including 10,000 kilometres of inland waterways. It is also blessed with rich and diverse marine resources. The exploitation of marine and blue economy potentials usually comes with inevitable consequences which necessitate special institutional arrangements to guarantee safety and conservation.

“The existential threat from human activities, include pollution, unregulated coastal development, overfishing and unsustainable exploitation of marine resources, among others.

“It must be emphasised that the protection and sustainable use of marine ecosystems is a vital pathway for national development. It is therefore compelling to preserve these endowments and guarantee sustainable development.”

Commenting on why Nigeria needs a National Coast Guards, the minister said: “It is very important to give credit to the Nigerian Navy for its achievements in safeguarding the Nigerian maritime space and giving Nigeria a good image worldwide. Its collaborative effort with the Ministry of Marine and Blue Economy, its agency- the Nigerian Maritime Administration and Safety Agency (NIMASA) in the Deep Blue Project has shown great results with zero piracy in Nigeria’s territorial water in the last three years.

“However, there is a need to further complement the efforts of our Navy, as it is done in other climes. According to a 2009 publication by the Africa Centre for Strategic Studies, 15 out of the 21 independent maritime nations in sub-Saharan Africa have dedicated coast guards that identify themselves as such, and none has our population, and many of these countries do not have the length of our inland waterways or coastline.

“Also, a 2015 publication by the Institute for Security Studies of the National Defence College of Nigeria highlighted the impact of activities such as illegal, unregulated and unreported fishing in the inland waters, coastal and marine fishing zones in sub-Saharan Africa, which is estimated to cost the region approximately between $3 billion to $5 billion a year in lost revenue.”

He added: “The Lagos-Calabar Coastal Highway development is a major game changer for the entire coastline of the country. The project is expected to unlock the region’s blue economy potential. Hotels, beach resorts, water parks, eco-parks, ferry services, hospitality industries, industrial parks and more are soon to spring up along the coastline. This increase in economic activities will require a dedicated institution that will be responsible for ensuring maritime safety, search and rescue, environmental protection, and the enforcement of civil maritime laws.

“The spate of boat mishaps within our inland waterways is also a strong justification for the need to strengthen our maritime safety and the enforcement of maritime laws and regulations in the inland waterways. This is necessary to boost maritime trade and trans-shipment in Nigeria.

“Also, considering Nigeria’s critical position in the maritime domain on the continent and globally, the establishment of a National Coast Guard would further increase our standing in the comity of maritime nations. This will no doubt attract foreign support and assistance.”

The Chief of Naval Staff (CNS), Vice Admiral Emmanuel Ogalla, noted that though the Bill was presumably perceived to enhance maritime security by establishing an additional military branch, an analysis of both Nigeria’s maritime security needs revealed significant concerns.

Ogalla, who was represented by Rear Admiral Olusegun Eugenio Ferreira, spoke while presenting the Nigerian Navy’s submission to the Senate Committee.

The CNS said the Bill might lead to duplication of roles and put a strain on resources.

He said: “Rather than achieving greater efficiency and security, the proposed Bill risks duplicating roles, straining limited resources, and introducing operational conflicts within Nigeria’s maritime domain.

“Additionally, the bill diverges from the intent of existing national security frameworks, constitutional provisions, and cost-effective governance policies.”

Ogalla added: “Global examples, including those often cited in support of a coast guard, such as the United States model, illustrate that a dual maritime security structure is both context-specific and resource-intensive, a model that may not effectively translate to Nigeria’s unique security and economic landscape.

“This submission will, therefore, outline a range of counterarguments against the establishment of the Nigerian Coast Guard.

“Thereafter, it would be evident that strengthening the Nigerian Navy remains the optimal and most efficient means of further enhancing national maritime security goals within the current economic and security clime.”

..calls for compliance with waterways code 

The Minister of Marine and Blue Economy, Adegboyega Oyetola, has expressed deep condolences to the Kogi State government and families affected by the tragic boat accident in Kupa Ebbe Village, Kupa South Local Government Area of the state. 

The incident, which occurred in the early hours of Thursday, November 28, 2024, claimed several lives and left others injured or missing.  

In a statement issued by the Ministry, Oyetola extended his sympathies, saying: “I extend my heartfelt condolences to the families who have lost loved ones in this unfortunate incident. Our thoughts and prayers are with you during this difficult time.”

He praised the swift response of the National Inland Waterways Authority (NIWA) and the Kogi State Government, which led to the rescue of several survivors. 

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However, he emphasised the need for stricter adherence to safety regulations to prevent such tragedies in the future.  

The Minister called on NIWA to enforce compliance with the Waterways Transportation Code and hold offenders accountable. 

He also urged boat operators, as well as traditional and community leaders, to discourage nighttime boat rides, which significantly increase risks.  

Reaffirming the federal government’s commitment to safe waterways under the administration of President Bola Tinubu, Oyetola stated that his Ministry is collaborating with the Kogi state government and other stakeholders to mitigate future casualties on the nation’s waterways.