The Federal Government has once again affirmed its commitment to the completion of the Agge Deep Sea Port in Bayelsa State. This project is described as a transformative maritime infrastructure that will unlock investment opportunities, generate thousands of jobs, and accelerate economic growth in the Niger Delta region.
Minister of Blue Economy Speaks on Project Significance
Dr. Adegboyega Oyetola, the Minister of Marine and Blue Economy, made this known in a statement issued in Abuja. He emphasized that the deep-sea port remains a top priority under the government's agenda to expand Nigeria's maritime infrastructure and deepen the blue economy. According to Oyetola, the project aligns with President Bola Tinubu's economic transformation strategy, which aims to boost trade, industrialization, and sustainable development.
The minister stated that upon completion, the Agge Deep Sea Port will serve as a major maritime gateway in the South-South region. It will enhance Nigeria's competitiveness in regional and international trade while reducing pressure on existing ports. Oyetola said, "The Agge Deep Sea Port project is a critical component of our strategy to expand Nigeria's maritime infrastructure and strengthen the nation's competitiveness in regional and international trade. It will significantly contribute to job creation, economic development, and investment inflows into the Niger Delta region."
Collaboration with Bayelsa State Government
The minister disclosed that the Federal Ministry of Marine and Blue Economy is working closely with the Bayelsa State Government and other stakeholders to fast-track the implementation of the project. He noted that beyond improving maritime capacity, the port will stimulate economic activities across multiple sectors, including logistics, fisheries, shipbuilding, maritime services, and tourism. The project is expected to generate thousands of direct and indirect employment opportunities while attracting both local and foreign investors to the region.
Oyetola commended Bayelsa State Governor Douye Diri for his support and for aligning the state's development plans with the Federal Government's Marine and Blue Economy agenda. He reiterated the government's resolve to deliver the project, describing the Agge Deep Sea Port as a catalyst for regional transformation and a cornerstone of Nigeria's maritime future.
Strategic Infrastructure for Blue Economy
The project is widely regarded as one of the strategic infrastructure initiatives expected to drive Nigeria's emerging blue economy and expand the country's role in global maritime trade. Additionally, the Marine and Blue Economy Ministry has hinted at efforts to attract fresh investment into the maritime sector. Plans are underway to collaborate with Jaiz Bank Plc to finance critical infrastructure and unlock the vast potential of the nation's blue economy.
The partnership was announced during a meeting between ministry officials and the management of Jaiz Bank in Abuja. It is expected to channel new funding into maritime infrastructure, inland waterways transportation, fisheries, aquaculture, and other strategic sectors.
Need for Substantial Long-Term Financing
Permanent Secretary of the ministry, Mrs. Fatima Sugra Tabi'a Mahmood, stated that the marine and blue economy remains one of the country's most capital-intensive sectors, requiring substantial long-term financing to drive growth and modernization. She disclosed that the ministry had recently explored international funding opportunities, including the assessment of a £1 billion financing facility in the United Kingdom, highlighting the scale of investment needed to transform Nigeria's maritime infrastructure and fully harness the sector's economic potential.
According to Mahmood, the ministry is open to partnerships with financial institutions capable of providing innovative funding solutions to support large-scale projects and accelerate sectoral development.
