Business & Economy
How Coastal States Can Grow Nigeria’s Blue Economy – Gov Diri *Appoints Agge Seaport Transaction Adviser
By David Owei
Governor of Bayelsa State, Senator Douye Diri, has advocated for Nigeria’s coastal states to maximise their aquatic potential to contribute to the growth of the country’s marine and blue economy.
Governor Diri also contended that the country’s maritime domain holds enormous potential to boost its economic growth.
The Bayelsa governor stated this on Thursday in a keynote address with the theme, “Sub-National Leadership in Advancing Nigeria’s Maritime and Blue Economy: The Bayelsa Experience and Pathways for Coastal State Development” during the 2nd Quarter 2026 Citizens/Stakeholders’ Engagement organised by the Federal Ministry of Marine and Blue Economy at the Eko Hotel and Suites, Victoria Island, Lagos.
Governor Diri asserted that of Nigeria’s more than 850km coastline, it is the states that have the waterways and that they . must move from being spectators to stakeholders.
He proposed five pathways for coastal states to collaborate for not only their collective progress and that of their communities but also Nigeria’s.
He said there was need for these states to institutionalise and create focal ministries or agencies and give them political and financial authority.
He also urged them to enact blue economy laws that align with the national policy and which reflect their unique geography and people.
According to him, such sub-nationals should secure and map out their domain as well as invest in coastal security and credible ocean data.
Diri, who further stated that the sub-nationals should establish maritime skills hubs, modernise fish processing and build cold storage, proposed that coastal producers be connected to national and global value chains.
The Bayelsa helmsman, who became the first governor in Nigeria to create a full-fledged Ministry of Marine and Blue Economy in the country in 2024, explained that the move was inspired by the Federal Government’s creation of a similar ministry in 2023 by President Bola Tinubu.
He said: “To ignore the Blue Economy in Bayelsa would be to ignore Bayelsa itself. That is why, following the initiative of the Federal Government, Bayelsa is not merely a state with a bespoke ministry, we are a national model for how to institutionalise and mainstream the Blue Economy at the sub-national level.”
On achievements in the sector, he said one of the state’s flagship priorities was the Agge Deep Seaport, which he noted was not merely a port but a gateway vision for regional trade, logistics, industrial development, fisheries exports, and wider integration within the Gulf of Guinea.
Consequently, he said his administration appointed a Transaction Adviser and that work had advanced to the inception report stage.
Diri expressed appreciation to the Federal Ministry of Marine and Blue Economy and other relevant federal institutions as it looked forward to a continued collaboration to move the Agge seaport from vision to bankable reality.
He also stated that Bayelsa had made modest progress in the sector following the creation of the ministry as “the state has moved from natural endowment to institutional recognition; from consultation to policy formulation; from validation to implementation.
“We are currently finalising the Bayelsa State Blue Economy Law. This legislation will provide certainty for investment, protect our ecosystems, and enshrine the rights of coastal communities. Investors do not gamble where the law is silent.”
On opportunities and investments in the sector, Diri said his administration had begun to translate the vision into practical action.
In the area of fisheries and aquaculture, he noted that government had commenced the operationalisation of the Bayelsa Aquaculture Village at Yenegwe, which is a 127-hectare facility designed as a major production, training, and enterprise hub.
According to him, the village has a hatchery capable of producing over three million fingerlings per cycle; 500 grow-out ponds, each measuring 20 metres by 50 metres; and a feed mill with capacity to produce up to 20 tonnes of fish feed per day.
Declaring the event open, the Minister of Marine and Blue Economy, Adegboyega Oyetola, said the successful implementation of the blue economy policy last year marked an important milestone in the sector.
Oyetola noted that it provided Nigeria with a coherent, strategic framework for unlocking opportunities that abound within the country’s ocean space, inland waterways and coastal resources.
He stressed that effective implementation of the national policy in the sector cannot rest solely on the federal government, adding that the states, the private sector and development partners were critical in realising President Tinubu’s Renewed Hope Agenda for the sector and the country.
Also, President of the Dangote Group, Alhaji Aliko Dangote, who was represented by Managing Director of Dangote Ports Operations, Mr. Simon Akin Omole, remarked that Nigeria’s blue economy was no longer defined by its potential but by the collective willingness to unlock it.
“The decisions we make today will determine whether future generations inherit a coastline untapped promise or a globally competitive economy that drives investments, industrialisation and shared prosperity,” he said.
Present at the well-attended event were all the institutional stakeholders in the sector as well as the governors of Akwa Ibom, Ondo and Borno, who were represented by the Deputy Governor, Senator Akon Eyakenyi, Mr. Olu Alade and Dr. Abdulkarim Babagana respectively, and chairman of the Senate Committee on Marine and Blue Economy, Senator Wasiu Sanni.
The governor was accompanied by the Commissioner for Marine and Blue Economy, Dr. Faith Izibenua-Godwin, her Information and Environment counterparts, Mrs. Ebiuwou Koku-Obiyai, and Hon. Ben Ololo as well as the General Manager, Bayelsa Housing and Property Development Authority, Hon. Tonye Isenah and the former Managing Director, Niger Delta Development Commission, Chief Ndutimi Alaibe.
Business & Economy
Livestock Ministry debunks N140m Emir Palace budget report, says items belong to Veterinary College
By AbdulGaneey Akanbi
The Federal Ministry of Livestock Development has debunked reports circulating in sections of the media and on social media alleging that it budgeted funds for the rehabilitation of Emir Palaces and Mosques in the 2026 budget.
In a press statement issued weekend by the Head of Information and Public Relations, Henrietta Okokon, the ministry described the reports as “false and misleading.”
The statement stated categorically that the budgetary provisions being referenced are not contained in the Headquarters budget of the Federal Ministry of Livestock Development.
It explained that the items were wrongly attributed to the ministry, but are actually contained in the budget of the Federal College of Veterinary and Medical Laboratory Technology, Vom, Plateau State.
“Rather, they are contained in the budget of the Federal College of Veterinary and Medical Laboratory Technology, Vom, Plateau State, a self-accounting institution with its own distinct budgetary allocations,” the statement read.
The ministry noted that the sum of N140 million allegedly budgeted for the rehabilitation of Emir Palaces and Mosques in Kaduna State, among other unrelated projects, does not form part of its programmes and priorities.
It said the erroneous attribution has created the impression that the ministry appropriated funds for projects outside its mandate.
The ministry recognized the legitimate concerns raised regarding the alignment and clarity of budgetary proposals submitted by institutions under its supervision.
It assured that in line with its commitment to transparency, accountability and prudent management of public resources, it will strengthen coordination with its agencies to ensure budget proposals are aligned with institutional mandates and clearly articulated.
The statement urged members of the public, media organisations and other stakeholders to distinguish between the budget of the Federal Ministry of Livestock Development and the separate budgets of its agencies and institutions before drawing conclusions or publishing reports.
“As partners in public information, we encourage journalists and media houses to actively verify data with relevant official government sources and seek necessary clarifications prior to publication,” Okokon stated.
The ministry said this collaborative approach will ensure the public receives accurate, verified reporting while preventing the spread of misleading information.
Business & Economy
North/C Dev.Com:N2.9billion per month is a drop in an ocean – Senate tells FG
By George Mgbeleke
The Senate Tuesday through its committee on North Central Development Commission ( NCDC), described the N2.9billion monthly allocation being given to the commission as grossly inadequate when compared to N140billion budget size earmarked for the commission in 2026.
Speaking to journalists after interactive session between the committee and management of the commission , Senator Titus Zam in his capacity as Committee Chairman , said the N2.9billion monthly allocation being given to NCDC will at the end of the year not up to half of projected budgetary allocation for it .
He posited that the N2.9billion monthly allocation from the N140billion budgetary appropriation, is a temporary package which would be improved upon .
” If you give someone that has a budget of 140 billion, N2.9 billion per month, in 12 months, it won’t be up to half of the entire budgetary sum .
“I suppose that is just a temporary package. When the commission finally comes to fruition, much more funds will be released. So we thank Mr. President, we thank the executive for dropping something now but look forward for more “, he said .
He however added that the Senate Committee will see to judicious spending of the little allocation being collected by the commission now by guiding it on areas that should be focused on .
” North Central is mostly an agricultural land. We have arable land, we have good rainfall, we have vegetation, there’s policy for agriculture. We need the department of NCDC to take agriculture very seriously.
“We also have a challenge of insecurity. The commission is advised to support the security forces and state government to complement their efforts towards mitigating the tides of insecurity within the region.
“We also ask them to take rural development very seriously because we are also rural in nature”, he said .
Business & Economy
Senate threatens NCAA, SMEDAN, ITF, others with sanctions for failing to appear before it,….Cost of Import Duty Exemption rose to N34trillon in 2025-Customs
By George Mgbeleke
Visibly angry at the absence of some key revenue earning of the federal government at Senate public hearing by Senate Committee on Finance on Monday,the panel threatened heads of the Nigerian Civil Aviation Authority (NCAA), Small and Medium Enterprises Development Agency of Nigeria ( SMEDAN), Industrial Training Fund ( ITF), Federal Medical Centre ( FMC) Jabi etc , with severe sanctions for failing to appear before it .
This is as Comptroller – General of Nigeria Customs Service ( NCS), Bashir Adewale Adeniyi has declared that costs of Import Duty Exemption Certificates ( IDEC) approvals on some imported goods and equipments, which commenced in March 2020, rose to N34trillion in 2025.
The Customs CG at the investigative session the committee had with some revenue generating agencies on Monday , said policies of government at different times affect revenue generating capacity of Customs , positively or negatively.
According to him , Customs as a leading revenue generating agency , would have generated far above , what it did in the past years ,if not for some government policies and other extraneous factors that inhibited it from doing so
He specifically informed the committee that Import Duty Exemption Certificates ( IDEC) on some goods and equipments introduced in March 2020 , is one of such policies inhibiting Customs revenue generation .
“IDEC approvals reached about ₦34 trillion in 2025 60% of which as rightly done by government related to military hardware procurements which attracted duty exemptions because of Nigeria’s prevailing security challenges.
” Other government-backed waivers, included
Importation of Compressed Natural Gas (CNG), electric and hybrid vehicles, Healthcare equipment and medical supplies; Industrial machinery and manufacturing inputs; and
Food import intervention programmes”, he said .
He however explained that fiscal policy should not be viewed solely from the perspective of revenue generation but also in terms of achieving broader economic and social objectives but suggested that government should establish stronger monitoring mechanisms to assess whether beneficiaries of duty waivers were delivering the intended economic benefits, such as lower prices, increased production and improved healthcare access.
Earlier in his submission , he said out of the N11. 04trillion revenue projected for 2026, N4.5trillion was generated by 30th of June , leaving balance of about N7trillion left to meet up with the set target for the fiscal year .
However, Bello Gulmare who represented Fiscal Responsibility Commission ( FRC) as Deputy Director , Monitoring &:Evaluation , alleged that Customs as at 2019, has N8.9billion liability of non – remittance of operating surplus into the Consolidated Revenue Fund ( CFR) , which was vehemently kicked against by Customs .
Similar liability on non remittance of operational surplus was made to the Corporate Affairs Commission ( CAC) , totalling N13.9billion from 2023 to 2025 which the Registrar – General of CAC , Hussaini Ishaq Magaji said was being upset gradually .
The committee chaired by Senator Sani Musa ( Niger East), however directed that CAC, the FRC and the committee should hold a meeting to reconcile the details in order to ascertain the exact outstanding balances.
” Detailed report on outcome of the planned meeting , should be ready within the next two weeks for another interface with CAC .
” Heads of agencies like NCAA , ITF , SMEDAN , FMC Jabi etc , who failed to physically attend today’s session , should unfailingly make themselves available at next sitting or risk severe sanction through invocation of relevant section of our rules against them”, he warned .
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