News Investigators/ Adegboyega Oyetola, Minister of Marine and Blue Economy, says Nigeria’s annual fish production has increased from 1.1 million to 1.4 million metric tonnes.
Mr Oyetola disclosed this on Friday at the presidential groundbreaking ceremony of the Bakassi Deep Seaport in Cross River.
He described the project as a major step toward strengthening Nigeria’s maritime development and expanding its trade capacity.
The minister said the Federal Government had approved the disbursement of the Cabotage Vessel Financing Fund (CVFF) to Nigerian shipowners for vessel acquisition.
He said revenue generated by agencies under the ministry increased from N700.79 billion in 2023 to approximately N1.83 trillion in 2025.
Mr Oyetola attributed the growth to improved regulatory oversight, transparency and measures to eliminate longstanding revenue leakages.
He also said Nigeria had recorded zero piracy incidents in its waters for more than three years.
The minister listed other achievements as Nigeria’s election into Category C of the International Maritime Organisation (IMO) Council and the lifting of United States Coast Guard restrictions on Nigerian ports in August 2026.
Also speaking, Abubakar Dantsoho, Managing Director of the Nigerian Ports Authority (NPA), described the seaport as a strategic national asset.
He said the project could establish an eastern maritime economic corridor, connecting the South-South, South-East, Middle Belt and North-East to international markets.
The port would also serve emerging markets across Central Africa, particularly with the African Continental Free Trade Area (AfCFTA) facilitating regional trade.
Mr Dantsoho stressed the importance of hydrography to safe navigation, noting that the National Hydrographic Agency had conducted technical surveys for the proposed port.
He said the surveys covered hydrographic, geophysical and geotechnical assessments required for the project’s development.
Also speaking, Rear Adm. Olumide Fadahunsi, Hydrographer of the Federation, said the seaport would be complemented by a dedicated 275-kilometre, six-lane superhighway.
He said the highway, linking Calabar, Ogoja and Gakem, would ease cargo transportation to North-Central and North-Eastern states.
He added that it would also improve access to neighbouring landlocked countries.
The News Agency of Nigeria (NAN) reports that the Bakassi Deep Seaport is a proposed maritime infrastructure project in Bakassi Local Government Area of Cross River.
The Cross River State PPP portal puts the project’s estimated value at 3.5 billion dollars and identifies the superhighway as an integral component.
NAN
