Marine Ministry Eyes Innovative Financing to Unlock Blue Economy Potential
Oru Leonard
The Federal Ministry of Marine and Blue Economy has signalled a renewed push to attract long-term private sector financing for critical infrastructure, as it explores strategic partnerships with financial institutions to fast-track the development of Nigeria’s marine and blue economy.
Permanent Secretary of the Ministry, Mrs. Fatima Sugra Tabi’a Mahmood, disclosed this while receiving a delegation from Coronation Group during a courtesy visit in Abuja. She said sustained investment and innovative financing remain essential to delivering the Ministry’s programmes and unlocking the country’s vast maritime economic opportunities.
Mahmood said the Ministry would review the financial products presented by the firm to identify areas that align with its strategic priorities, including possible syndicated financing for major infrastructure projects. She also directed relevant departments to evaluate the proposals and examine staff investment opportunities in line with existing regulations.
The Permanent Secretary commended Coronation Group for its continued support to the Ministry, particularly in civil service capacity development and digital transformation initiatives.
Coronation Group Offers ₦20bn Infrastructure Fund to Support Marine Sector Projects.
Coronation Group has unveiled its readiness to support the Federal Ministry of Marine and Blue Economy with innovative financing solutions, including access to a ₦20 billion Infrastructure Development Fund aimed at funding critical national infrastructure.
Speaking during a courtesy visit to the Ministry in Abuja, the company’s Director, Mr. David Aluko, said the Group possesses expertise across merchant banking, securities, insurance, asset management, financial advisory, wholesale lending, bond issuance, syndicated financing and fund management.
According to him, the infrastructure fund is designed to mobilise long-term capital for strategic projects while creating sustainable investment opportunities for both institutional and private investors.
Aluko added that the Group can structure transparent financing solutions regulated by the Securities and Exchange Commission (SEC) to support government development initiatives.
FG Strengthens Public-Private Partnership Drive for Marine and Blue Economy Growth.
The Federal Ministry of Marine and Blue Economy is intensifying efforts to deepen collaboration with the private sector as part of its strategy to accelerate investment, infrastructure development and competitiveness in Nigeria’s maritime sector.
During a meeting with officials of Coronation Group in Abuja, Permanent Secretary Mrs. Fatima Sugra Tabi’a Mahmood reaffirmed the Ministry’s commitment to exploring innovative financing mechanisms capable of unlocking the sector’s full economic potential.
She said the Ministry would carefully assess proposals presented by the financial services firm to ensure they align with government policies and operational priorities.
The engagement, according to the Ministry, forms part of broader efforts to attract sustainable investments, diversify funding sources and position the marine and blue economy as a major driver of Nigeria’s economic growth.
Cover Photo Caption: The Permanent Secretary, Federal Ministry of Marine and Blue Economy, (FMMBE), Mrs. Fatima Sugra Tabi’a Mahmood (middle), Director, Government and Federal Capital Relationship, Mr. David Aluko, (4th left), Director, Human Resource Management, FMMBE, Sarah London-Kurere, (3rd right), Director, Information & PR, FMMBE, Anastasia Ogbonna (2nd left) with Ministry & Coronation staff after the visit.
