Nigeria’s annual fish production has increased from 1.1 million to 1.4 million metric tonnes, Minister of Marine and Blue Economy, Dr Adegboyega Oyetola, has announced.
Oyetola disclosed the figures on Friday during the presidential groundbreaking ceremony for the proposed Bakassi Deep Seaport in Cross River State.
He described the project as an important development in Nigeria’s maritime sector, saying it would strengthen the country’s capacity for international trade and open up new opportunities across the marine and blue economy.
The minister also announced that the Federal Government had approved the release of funds under the Cabotage Vessel Financing Fund (CVFF) to support Nigerian shipowners in acquiring vessels.
The funding initiative is expected to improve local participation in maritime transportation and strengthen the country’s indigenous shipping industry.
Maritime Revenue Climbs to N1.83 Trillion
Providing further details on the sector’s performance, Oyetola said revenue generated by agencies under his ministry had risen significantly over the past two years.
According to him, collections increased from N700.79 billion in 2023 to approximately N1.83 trillion in 2025.
He attributed the improvement to stronger regulatory supervision, increased transparency and measures introduced to address revenue losses within the maritime industry.
The minister also reported sustained improvements in maritime security, stating that Nigeria had recorded no piracy incidents in its waters for more than three years.
Other developments highlighted included Nigeria’s election into Category C of the International Maritime Organisation (IMO) Council and the removal of United States Coast Guard restrictions on Nigerian ports in August 2026.
Bakassi Seaport Expected to Open New Trade Routes
Speaking at the ceremony, Managing Director of the Nigerian Ports Authority (NPA), Dr Abubakar Dantsoho, described the proposed Bakassi Deep Seaport as an important national infrastructure investment.
He said the project could create a new eastern maritime economic corridor, providing improved access to international markets for businesses across the South-South, South-East, Middle Belt and North-East.
According to Dantsoho, the facility could also strengthen trade connections with Central African markets, particularly as the African Continental Free Trade Area (AfCFTA) continues to promote commerce across the continent.
He emphasised that safe navigation would be critical to the port’s successful development.
In this regard, he disclosed that the National Hydrographic Agency had undertaken technical investigations covering hydrographic, geophysical and geotechnical assessments to support the proposed facility.
275-Kilometre Superhighway to Support Port Operations
Rear Admiral Olumide Fadahunsi, Hydrographer of the Federation, said the seaport project would be supported by a proposed 275-kilometre, six-lane superhighway.
The road is expected to connect Calabar, Ogoja and Gakem, improving the movement of goods from the coastal facility towards North-Central and North-Eastern Nigeria.
He added that the highway could also provide better transport access to neighbouring landlocked countries, expanding the potential reach of the port beyond Nigeria’s borders.
$3.5 Billion Infrastructure Investment
The Bakassi Deep Seaport is a proposed maritime development in Bakassi Local Government Area of Cross River State.
Information published on the Cross River State Public-Private Partnership portal puts the estimated project value at $3.5 billion, with the supporting superhighway forming part of the wider development plan.
If successfully delivered, the project could strengthen Cross River’s position in regional maritime trade and provide additional infrastructure for Nigeria’s growing commercial and logistics needs.
The development comes as the Federal Government continues to pursue greater investment in shipping, port infrastructure, fisheries and other areas of the blue economy.
The proposed seaport’s eventual contribution will depend on the completion of the necessary infrastructure, financing arrangements and operational facilities.
