News
2024 Nigeria’s Blue Economy Outlook & Potentials

By Moses Braimah
The 2024 budget for the Federal Ministry of Marine and Blue Economy focuses on key areas such as ports infrastructural development, modernization of Apapa and Tin Can ports, rehabilitation of Eastern ports, dredging inland and coastal waterways, and building human capacity.

The Minister during his budget defence, emphasizes the importance of effective technical and economic regulation to strengthen Nigeria’s Blue Economy.
Projections for the Blue Economy in 2024 could include anticipated improvements in port infrastructure, increased maritime administration efficiency, growth in human capacity, and positive impacts on economic regulation. These initiatives may attract more ships to Nigerian ports, improve port clearance processes, and contribute to the overall economic growth and GDP of the country.
However, for each specific initiative, potential challenges, and the monitoring of progress throughout the year are important. Additionally, external factors such as global economic conditions and environmental changes should be taken into account.
Briefly, let’s take a look at each.
- Security and Innovation
– A further reduction in piracy incidents through continued collaboration between NIMASA and the Nigerian Navy.
– Expect ongoing investments in maritime safety technologies, potentially leading to a significant improvement in overall security.
- Port Operations
– Positive impact from the commissioning of Lekki Deep seaport on overall port efficiency.
– Increased competition leading to enhanced operations at Apapa and Tin-Can ports.
- Infrastructure Rehabilitation
– Implementation of major port rehabilitation projects, including Apapa and Tin-Can, with a focus on modernization.
– Budget allocation contributing to improved port facilities.
- CVFF Disbursement
– Monitoring progress in CVFF disbursement to indigenous ship owners.
– Assessing the impact on the maritime sector and job creation.
- Blue Economy Potential
– Development of the fishing industry, harnessing wind and renewable energy.
– Exploration of untapped blue economy potential, estimated at $296 billion.
– Job creation, improved food security, and economic growth expected.
- Single Window Platform
– Push for the establishment of a single window platform to streamline port processes.
– Reduction of fees and enhanced efficiency in cargo clearance for import and export.
- Cabotage Act Administration
– Strategic administration of waivers under the Cabotage Act to empower Nigerian shipowners.
– Ensuring the intended impact of the Cabotage Act is realized.
- Illegal Fishing Regulation
– Curtailing illegal fishing activities through effective regulation and punitive measures.
– Safeguarding Nigeria’s marine resources for sustained economic gains.
- Blue Economy Exploitation
– Focus on maximizing opportunities in fishery, wind energy, and renewable energy.
– Job creation, economic growth, and exploration of the $296 billion untapped potential.
- 10. Tourism and Ship Repair Industry
– Collaboration with the Ministry of Tourism for coastal tourism promotion.
– Consideration of the ship repair industry’s potential for economic self-sufficiency.
- Capacity Building
– Emphasis on capacity building initiatives to enhance skills within the maritime sector.
– Training programs to meet evolving industry demands.
- Baseline Studies and Centralized Data Agency
– Initiation of baseline studies for comprehensive understanding of blue economy dynamics.
– Establishment of a centralized Centre/Agency focusing on data, statistics, and research for the sector.
Note. The success of this outlook relies on continuous monitoring, adaptive strategies, and the Ministry’s commitment to fostering innovation, strengthening regulations, and promoting sustainable practices within the Blue Economy.
- Braimah is the Executive Project Director of Pacific Messages
News
LIRS to Invoke NTAA to Recover Unpaid Taxes from Bank Accounts, Others

Lagos Internal Revenue Service (LIRS) pursuant to Section 60 of the Nigeria Tax Administration Act (NTAA), plans to ask Nigerian banks to debit bank accounts of employers who failed to remit tax liability.

This was disclosed in a recent notice on Sunday.
LIRS stressed that the move was in line with the implementation of the country’s NTAA and other new tax laws, which took effect on January 1, 2026.
“Where a taxpayer fails, neglects, or refuses to settle any established outstanding tax liability when due, LIRS may exercise its power under Section 60 to direct any of the following persons to pay the amount owed by the taxpayer:
“Banks and other financial institutions; Employers; tenants, debtors, or customers of the taxpayer; Agents, business partners, and any person holding money on behalf of the taxpayer; Any person owing money to the taxpayer, whether presently due or accruing. Once a substitution notice is issued, the person served is statutorily required to remit to LIRS the amount. Specified in the notice from funds belonging to, or payable to, the defaulting taxpayer,” the LIRS notice partly read.
Meanwhile, Taiwo Oyedele, chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, weeks ago ruled out claims that the government would debit personal accounts over tax remittances.
News
Anambra Cuts Monday Pay to Kill Sit-at-Home

Anambra State will implement pro-rata salary payments for civil servants starting February 2026, targeting chronic Monday absenteeism from the long-running sit-at-home order, Information Commissioner Dr. Law Mefor announced Saturday.

Soludo
Speaking at an Awka briefing after the Executive Council’s end-of-tenure retreat, Mefor said improved security and transport have eliminated excuses for the four-year disruption, which cost the state trillions in lost revenue. “Workers enjoyed full pay despite staying away; now, no work means no pay for that day, calculated over 24 working days,” he stated.
Compliance measures include mandatory Monday clock-in forms, with markets urged to reopen fully amid bolstered security. This builds on a January 22 executive order docking 20% pay from teachers absent on Mondays.
Mefor warned that lost Mondays cripple revenue collection and productivity, rejecting alternatives like Saturday shifts as capitulation to agitators.
News
Stakeholders Demand Stronger Governance and Infrastructure to Drive Tech Adoption @ Lagos AI Summit

As AI adoption accelerates across Nigeria, leaders at the “AI in Action Now” conference 2026 have called for a balance between rapid innovation and strict regulatory governance. The event, held at the Lagos Oriental Hotel, highlighted both the doggedness of Nigerian builders and the risks of unregulated data usage.

Dotun Adeoye, Co-Founder of AI Nigeria, raised alarms over “Shadow AI”, a trend where employees upload sensitive official documents to public AI platforms. He praised the Nigerian Data Protection Commission (NDPC) for its recent aggressive stance, including multi-million-dollar fines against major banks and social media brands.
“Innovation without governance is dangerous. The regulator now has the job of educating players. We are working in partnership with them to ensure players don’t just get fined, but actually understand how to protect data locally rather than storing it abroad, ” Adeoye noted.
Addressing issues of lack of infrastructure to carry AI adoption, Conference Convener Debola Ibiyode admitted that while Nigeria lacks the traditional foundation for AI adoption, the tech community cannot afford to wait.

“The simple answer is we don’t have the infrastructure, but Nigeria has never really had infrastructure to drive anything, and we still thrive, ” Iboyode said, encouraging students and builders to look beyond current limitations. “Once we start to build based on what we have now, it will encourage those who need to provide the infrastructure to do their part. The world will not wait for us,” she insisted.
To bridge this gap, she highlighted the AI Foundry Africa, an incubator designed to mentor ideas into market-ready products.
Meanwhile, speaking to journalists on the sidelines, Biodun Ogunleye, the Lagos State Commissioner of Energy and Mineral Resources, echoed the sentiment that the government’s role is to facilitate the right environment through partnership. He emphasized that data generated from interactions with the government must have long-term value.
“We must ensure that in all facets from production to interaction with government, the tools required to ensure data has value are appreciated,” Ogunleye stated.
He concluded that through private-sector collaboration, the government can focus on its primary functions while leveraging AI to ensure the nation aspires for the future.
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