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The Minister of Marine and Blue Economy, Adegboyega Oyetola, has called on banks, development finance institutions, maritime operators and government agencies to invest in Nigeria’s emerging blue economy startups through funding, mentorship and innovation deployment.
Oyetola made the call on Wednesday, in Lagos while delivering the keynote address at the NIMASA Blue Economy Accelerator Programme (BEAP) High-Level Interactive Session with the organised private sector, commercial and development finance institutions and sectoral MDAs.
Represented by the Director, Marine Conservation, Innovation & Technology, Hussaini Shettima, the minister formally unveiled the programme, describing it as a practical initiative to develop Nigeria’s blue economy workforce and unlock new investment opportunities.
He said the global blue economy, currently valued at about $3 trillion, is projected to exceed $6 trillion by 2030, noting that Nigeria’s 853-kilometre coastline, 200-nautical-mile Exclusive Economic Zone, extensive inland waterways and offshore energy resources provide significant opportunities.
Oyetola said the Federal Ministry of Marine and Blue Economy, established in 2023, and the National Policy on Marine and Blue Economy approved in May 2025 demonstrate the Federal Government’s commitment to developing the sector.
He described BEAP as a “paradigm shift” in NIMASA’s role from regulation to catalysing innovation, investment and enterprise development.
“I want to commend the Director-General and CEO of NIMASA, Dr. Dayo Mobereola, and NIMASA’s Executive Management Team, for the vision and institutional boldness this programme represents,” he said.
The minister urged commercial banks to create dedicated lending windows for blue economy businesses, while encouraging development finance institutions to deploy blended finance and green bond instruments.
He also challenged maritime stakeholders to mentor, sponsor and invest in startups emerging from the accelerator, while urging sectoral MDAs to provide pilot deployment opportunities and regulatory pathways for innovative solutions.
In his welcome address, NIMASA Director-General, Dr. Dayo Mobereola, said Nigeria’s maritime economy represents a N5 trillion frontier that remains significantly underexploited.
He noted that despite the country’s coastline, six major commercial seaports and maritime logistics supporting more than two million barrels of oil production daily, Nigeria captures less than three per cent of the value generated across the maritime value chain moving through its waters.
“That is an imbalance we must change,” Mobereola declared.
Implemented in partnership with Opolo Global Innovation Ltd., the NIMASA Blue Economy Accelerator Programme is designed to identify, accelerate and scale Nigerian ventures across 13 innovation tracks, including ocean logistics, port technology, marine conservation and maritime digital services.
The programme will support 13 selected startups through a five-stage development journey, combining technical mentorship, regulatory expertise, access to capital and international partnerships.
Applications open from October 5 to November 13, 2026, with evaluation and due diligence scheduled for November 16 to December 2. The National Innovation Hackathon will hold from December 8–10, while the 12-week accelerator is scheduled to commence in Q1 2027 and culminate in a Demo Day in early Q2.
Winning hackathon teams will proceed to Opolo’s digital Capacity Development Programme, with exceptional teams eligible for direct referral to the accelerator.
