Economy
Oyetola Markets Vast Opportunities in Marine, Blue Economy to Investors
By Adedapo Adesanya
The Minister of Marine and Blue Economy, Mr Adegboyega Oyetola, has called on international investors to seize the vast opportunities in Nigeria’s marine and blue economy, describing the sector as a gateway to Africa’s economic transformation.
The Minister made the call in London, United Kingdom, where he is participating in the ongoing London International Shipping Week (LISW) 2025, one of the world’s premier maritime gatherings.
Speaking at the Africa Maritime and Shipping Assembly, held at the headquarters of the International Maritime Organization (IMO) as part of the LISW last week, Mr Oyetola, represented by the Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Mr Dayo Mobereola, urged investors to look beyond short-term gains and embrace the long-term benefits of investing in Nigeria’s fast-evolving maritime landscape.
Delivering a keynote address on the topic Navigating Regulatory Seas: Steering Africa’s Maritime Governance Towards Seamless Trade, he underlined Nigeria’s commitment to regulatory reforms, port modernisation, maritime security, and sustainable shipping practices as critical pillars that make the country an attractive investment destination.
“Our oceans and inland waterways are our lifeblood, our highways to prosperity, and the very arteries that will fuel the African Continental Free Trade Area,” Mr Oyetola said, stressing that Nigeria is committed to unlocking the full potential of its marine resources.
He noted that the government’s ambitious reforms are geared towards positioning the country as the maritime hub of West and Central Africa.
The Minister highlighted Nigeria’s significant progress in maritime security, citing the success of the Deep Blue Project, which has eliminated piracy in Nigerian waters and contributed to a sharp decline in incidents across the Gulf of Guinea.
He added that Nigeria has recorded three consecutive years without piracy attacks in its territorial waters, a feat that has earned commendations from the International Maritime Bureau.
“This is proof that Nigeria is a safe destination for maritime investments. Security of our seas is non-negotiable, and we are committed to sustaining these gains through technology-driven surveillance, strong legal frameworks such as the SPOMO Act, and regional collaboration,” he declared.
The Minister further pointed to Nigeria’s growing port infrastructure, with the landmark Lekki Deep Sea Port standing as a symbol of public-private partnership success. With its state-of-the-art facilities and capacity to berth the world’s largest vessels, Lekki Port is expected to serve as a vital transshipment hub for landlocked African nations.
“We are now actively collaborating to scale up transshipment operations for countries such as Chad, Niger and Burkina Faso, positioning Nigeria as the maritime hub of the sub-region,” he said.
The Minister also underscored the importance of sustainable growth, insisting that the blue economy must not only drive profit but also safeguard the environment.
He reaffirmed Nigeria’s commitment to green shipping practices, eco-friendly port infrastructure and climate-resilient coastal management strategies.
Beyond security and sustainability, Mr Oyetola stressed the urgency of regulatory harmonisation across Africa’s maritime sector. He noted that fragmented regulations and non-tariff barriers undermine the objectives of the African Continental Free Trade Area.
“It is a paradox that we seek to remove tariffs through AfCFTA while leaving non-tariff barriers, such as disparate port procedures and differing customs regulations, largely intact,” he said.
He called for accelerated implementation of continental instruments such as the Revised African Maritime Transport Charter to create a predictable and investor-friendly environment.
Mr Oyetola appealed to investors and African maritime stakeholders alike to harness the sector’s immense opportunities.
“The regulatory seas ahead may be turbulent, but with a clear vision, a firm resolve, and a spirit of collaboration, we can navigate them successfully. Let us commit to building an African maritime sector that is secure, sustainable, and seamlessly integrated. Let us turn our shared challenges into collective strengths,” he urged.
By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange further appreciated by 0.23 per cent on Thursday, April 23, with the Unlisted Security Index (NSI) adding 8.99 points to close at 3,969.96 points against the previous day’s 3,968 points.
The rise in the share price of Central Securities Clearing System (CSCS) Plc by N2.86 to N69.34 per unit from N66.48 per unit raised the market capitalisation of the NASD bourse by N5.38 billion to N2.380 trillion from N2.375 trillion.
Yesterday, there were two price losers, led by Food Concepts Plc, which lost 29 Kobo to sell at N2.65 per share versus N2.94 per share, while UBN Property Plc dipped by 22 Kobo to N2.03 per unit from N2.25 per unit.
During the session, the volume of securities traded declined by 97.9 per cent to 451,522 units from 21.5 million units on Wednesday, the value of securities depreciated by 52.32 per cent to N23.6 million from N49.5 million, and the number of deals depreciated by 3.6 per cent to 27 deals from 28 deals.
At the close of business, Great Nigeria Insurance (GNI) Plc remained the most active stock by value on a year-to-date basis with 3.4 billion units valued at N8.4 billion, followed by CSCS Plc with 59.5 million units exchanged for N4.0 billion, and Okitipupa Plc with 27.8 million units traded for N1.9 billion.
GNI Plc also closed the day as the most traded stock by volume on a year-to-date basis with 3.4 billion units worth N8.4 billion, trailed by Resourcery Plc with 1.1 billion units transacted for N415.7 million, and Infrastructure Guarantee Credit Plc with 400 million units sold for N1.2 billion.
By Adedapo Adesanya
Fresh foreign exchange (forex) demand pressure saw the Naira depreciate against the United States Dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEX) on Thursday, April 22, by N5.46 or 0.4 per cent to trade at N1,353.91/$1 compared with the preceding day’s value of N1,348.45/$1.
It was the same outcome for the local currency in the official market after it depreciated against the Pound Sterling by N4.13 to close at N1,825.88/£1, in contrast to the preceding session’s N1,821.75/£1, and against the Euro, it dropped 72 Kobo to finish at N1,582.72/€1 versus N1,582.00/€1.
But the Nigerian Naira appreciated against the US Dollar at the GTBank FX desk by N2 during the session to quote at N1,361/$1 compared with Wednesday’s closing price of N1,361/$1, and at the parallel market, it closed flat at N1,375/$1.
FX Pressure came as data showed that NFEM interbank turnover was N28.117 million, lower than the N66.084 million recorded the previous day.
Concerns over liquidity pressures, policy transparency, and confidence in Nigeria’s FX market continue to grip the market while the country’s foreign reserve declines further, even as the Central Bank of Nigeria (CBN) recently said that the recent decline in Nigeria’s external reserves should not be a cause for concern.
Global developments also played a significant role, as rising geopolitical tensions boosted demand for the US Dollar, further weakening emerging market currencies, including the Naira.
As for the cryptocurrency market, there was a mixed outcome as traders reacted to rising geopolitical tensions from the Iran war and fresh inflation data from Japan.
Japanese inflation ticked higher in March, stoking expectations that the Bank of Japan may soon signal rate hikes, which could strengthen the yen and unsettle global risk assets.
The Iran conflict has disrupted oil flows through the Strait of Hormuz, raising energy costs and inflation risks worldwide and potentially complicating efforts by the Federal Reserve to cut interest rates.
Ethereum (ETH) declined by 1.8 per cent to $2,316.53, Bitcoin (BTC) lost 0.6 per cent to sell at $77,935.53, Solana (SOL) fell by 0.5 per cent to $85.67, and Binance Coin (BNB) dropped 0.4 per cent to sell for $634.85.
However, Dogecoin (DOGE) appreciated by 1.4 per cent to $0.0976, Ripple (XRP) grew by 0.7 per cent to $1.43, Cardano (ADA) expanded by 0.6 per cent to $0.2493, and TRON (TRX) improved by 0.2 per cent to $0.3279, while the US Dollar Tether (USDT) and the US Dollar Coin (USDC) traded flat at $1.00 each.
By Aduragbemi Omiyale
The resilience shown by Nigerian Breweries Plc in the 2025 fiscal year, despite a volatile macroeconomic environment, which consumed several businesses, has not got without notice.
Shareholders of the brewery giant applauded the board and management for the strong recovery and improved profitability recorded in the year.
At the company’s 80th Annual General Meeting (AGM) on Wednesday, April 22, 2026, in Lagos, they attributed these achievements to disciplined cost management and a significant reduction in finance expenses.
“We are proud of how the company has withstood the ups and downs of a challenging environment. The return to profitability and the reversal of the negative cash position recorded in the previous two financial years are commendable,” a member of the Noble Shareholders Association, Mr Owolabi Opeyemi, said at the gathering.
Also, the immediate past Secretary of the Independent Shareholders Association of Nigeria (ISAN), Mr Eke Emmanuel, noted that the company’s resilience reflects strong leadership and a sound strategic direction.
“It is good news that we have been here for 80 years. There is no reason why we will not be here for the next 80 years with what we have achieved. To return to this level of profitability and cash position shows the Board has done an enormous amount of work,” he said.
Addressing investors at the AGM, the board chairman, Mrs Juliet Anammah, expressed confidence that the company is firmly on a recovery path following the net losses recorded in the past two years due to macroeconomic pressures and fiscal reforms.
She thanked shareholders for their continued support and reaffirmed that the company will build on its 2025 performance as it accelerates growth ambitions.
“We have a solid foundation built over eight decades, anchored on a strong portfolio of brands, an extensive nationwide sales and supply chain network, ongoing digital transformation, and most importantly, our people. These strengths remain critical to sustaining our leadership position,” the former chief executive of Jumia Nigeria said.
Ms Anammah also addressed the company’s dividend position, noting that the decision not to declare a dividend reflects the need to rebuild retained earnings impacted by prior macroeconomic shocks, particularly foreign exchange-related losses.
“We recognise the importance of dividend payments to our shareholders and sincerely appreciate your continued understanding. While we are not declaring a dividend at this time due to negative retained earnings, we are working diligently to restore the company’s financial position and return to dividend payments as soon as it is sustainable to do so,” she added.
She further noted that the board remains vigilant to external risks, including the Middle East crisis and broader macroeconomic challenges, which may impact the pace of improvement in the 2026 financial year.
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