The federal government has unveiled a new National Marine and Blue Economy policy, designed to cut logistics costs.

The policy is also designed to boost trade competitiveness and attract private sector investment into the transport and maritime sectors.

The Minister of Marine and Blue Economy, Adegboyega Oyetola, disclosed this on Wednesday at the 2025 Transportation Correspondents Association of Nigeria Annual Summit in Lagos.

Mr Oyetola explained that the policy would provide a framework for seamless intermodal integration across road, rail, barge, and pipeline channels.

He added that the policy was aimed at transforming Nigeria into a logistics hub for West and Central Africa.

“By lowering the cost of doing business, improving turnaround times and creating an enabling environment for private capital, we are positioning Nigeria as a preferred logistics destination in Africa,” Oyetola said.

He highlighted key interventions already underway, including the operationalisation of the Lagos–Ibadan Standard Gauge Rail line.

He stated that the rail line was intended to facilitate port cargo evacuation, expand barge operations at Lagos and Onne ports, and complete the Apapa–Oshodi Expressway.

He included the commissioning of the 27-kilometer Lekki Port Access Road as another intervention.

Mr Oyetola also identified the development of inland dry ports in Ibadan, Kaduna, Kano, and Funtua to ease pressure on seaports and support regional economies.

Mr Oyetola stressed that the success of the reforms depended on collaboration among shipping lines, terminal operators, freight forwarders, investors, and regulators.

He added that Nigeria must adopt digital, green, and climate-resilient logistics solutions to remain globally competitive.

Additionally, transportation minister Sa’idu Ahmed Alkali stated that the government had recently approved the National Land Transport Policy after decades of futile struggle.

Mr Alkali said that the policy would undoubtedly serve as a veritable tool to facilitate all developments in the land transport sub-sector.

The minister appreciated President Bola Tinubu for spearheading the National Transport Sector Reform project through laudable policies, initiatives, and commitments.

He said these commitments would aid the actualising of the Renewed Hope Agenda by making public transportation efficient, effective, safe, secure, integrated, and affordable.

Earlier, the TCAN Chairman, Tola Adenubi, regretted that Nigeria had yet to have an acceptable protocol to guide the entire transport system, leaving the space open to all comers.

Mr Adenubi added that, although transportation addressed the challenges of moving from one point to another, doing so seamlessly had remained man’s major headache.

(NAN)