Marine Ministry, Jaiz Bank Forge Partnership to Unlock Nigeria’s Blue Economy Potential
Oru Leonard
Marine Ministry, Jaiz Bank Forge Partnership to Unlock Nigeria’s Blue Economy Potential
Abuja, June 4, 2026 – The Federal Ministry of Marine and Blue Economy has signalled its readiness to partner with Jaiz Bank Plc to drive investment and unlock the vast opportunities within Nigeria’s marine and blue economy sector through innovative financing and strategic collaborations.
The commitment was made during a meeting in Abuja between the Ministry’s Permanent Secretary, Mrs. Fatima Sugra Tabi’a Mahmood, and a delegation from Jaiz Bank Plc led by its Managing Director, Dr. Haruna Musa.
Mrs. Mahmood described the marine and blue economy as a highly capital-intensive sector that requires substantial long-term investments beyond the capacity of conventional domestic financing. She noted that the Ministry’s recent international financing engagements, including the assessment of a £1 billion funding facility in the United Kingdom, highlight the scale of resources needed to modernise Nigeria’s maritime infrastructure and unlock the sector’s full economic potential.
According to her, the Ministry is open to collaborating with Jaiz Bank in key areas including maritime infrastructure development, commercial market facilities, inland waterways transportation, fisheries and aquaculture, as well as housing and property development initiatives.
“The Marine and Blue Economy is a sector with enormous investment opportunities and large-ticket projects. Any partner that can bring value to the table will find us willing and ready to collaborate as we work to expand, explore, and maximise the sector’s contribution to national development,” she said.
The Permanent Secretary identified inland waterways transportation as a priority area for partnership, noting that water transport remains significantly more cost-effective than road transportation and offers considerable potential for reducing logistics costs and easing pressure on the nation’s road network.
She also called for increased financing support for fisheries and aquaculture to boost domestic fish production, enhance food security, create employment opportunities, and improve livelihoods in coastal and riverine communities across the country.
In addition, Mrs. Mahmood welcomed collaboration on affordable housing and property development schemes targeted at civil servants, aimed at promoting financial security and long-term wealth creation.
Speaking during the meeting, Jaiz Bank Managing Director, Dr. Haruna Musa, reaffirmed the bank’s commitment to supporting the Federal Government’s economic diversification agenda through tailored non-interest financing solutions designed for the maritime sector.
He stated that Jaiz Bank is well-positioned to finance strategic marine and blue economy projects, support contractors executing critical infrastructure projects, and facilitate sustainable investments capable of driving economic growth.
Dr. Musa also proposed the deployment of technology-driven revenue monitoring platforms, Public-Private Partnership (PPP) financing models for large-scale infrastructure development, and financial literacy and asset acquisition programmes to improve the welfare of civil servants.
The meeting ended with both parties agreeing to establish a Joint Technical Working Group that will develop a structured framework for collaboration.
The proposed partnership will focus on expanding access to non-interest financing, promoting indigenous participation, enhancing commercial innovation, and maximising the economic benefits of Nigeria’s marine and blue economy sector.
Stakeholders believe the collaboration could significantly strengthen investment flows into the sector while advancing the Federal Government’s objectives of economic diversification, job creation, and sustainable national development.
Cover Photo Caption: The Permanent Secretary, Federal Ministry of Marine and Blue Economy, Mrs. Fatima Sugra Tabi’a Mahmood (middle) flanked by the Managing Director, Jaiz Bank Plc, Dr. Haruna Musa (right) alongside Directors in the Ministry and delegation from Jaiz Bank.
(FMMBE Press)
