Regulatory vacuum threatens A’Ibom’s maritime economy

Etim Ekpimah

More than 6,208 maritime service companies operating along Akwa Ibom’s coastline are reportedly functioning without a centralised state regulatory framework, raising fresh concerns over the absence of a dedicated Ministry of Blue Economy.
Stakeholders in the maritime and energy sectors said the lack of such a ministry is undermining effective governance of one of the state’s most strategic economic assets, despite Akwa Ibom’s vast coastal advantage and expanding maritime investments.
According to industry players, the firms are engaged in diverse maritime operations, including offshore services, marine transportation, fisheries, oil and gas logistics, dredging, shipping support and other coastal commercial activities.
They warned that without a specialised ministry, the state risks poor policy coordination, weak environmental monitoring, inadequate data management and limited regulatory oversight across its growing maritime corridor.
The stakeholders noted that this institutional gap could significantly reduce Akwa Ibom’s capacity to maximise opportunities in the maritime sector, especially as the Federal Government intensifies the development of Nigeria’s blue economy through the Federal Ministry of Marine and Blue Economy.
They pointed out that the federal ministry, established by President Bola Ahmed Tinubu and headed by the Minister of Marine and Blue Economy, Adegboyega Oyetola, was created to unlock the sustainable economic potential of Nigeria’s marine resources, shipping and maritime sectors.
Industry leaders further argued that establishing a state Ministry of Blue Economy would create a coordinated platform for investment promotion, job creation, revenue generation, environmental sustainability and stronger partnerships with maritime stakeholders and international investors.
They also stressed the urgent need for stricter safety standards and compliance measures to protect coastal communities and marine ecosystems from the consequences of poorly regulated maritime activities.
The stakeholders called on the Akwa Ibom State Government, led by Governor Umo Eno, to urgently establish policies and institutional structures that would strengthen maritime governance and position the state as a major force in Nigeria’s emerging blue economy.