FMMBE, Jaiz Bank Forge Strategic Partnership to Unlock Nigeria’s Marine, Blue-Economy Potential
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CHIDI UGWU
The Federal Ministry of Marine and Blue Economy has expressed its readiness to partner with Jaiz Bank Plc to unlock and develop Nigeria’s vast marine and blue economy potential through innovative financing and strategic investments.
Speaking while receiving a delegation from Jaiz Bank Plc in Abuja, the Permanent Secretary of the Ministry, Mrs. Fatima Sugra Tabi’a Mahmood, emphasized that the marine and blue economy sector is highly capital-intensive and requires significant long-term investments beyond the capacity of conventional domestic financing.
According to a statement signed by
Anastasia Ogbonna, the Director, Information & Public Relations in the ministry, Mrs.Tabi’a Mahmood noted that the Ministry’s recent international financing engagements, including the assessment of a £1 billion funding facility in the United Kingdom, underscores the scale of investment required to modernize Nigeria’s maritime infrastructure and fully harness the sector’s economic opportunities.
The Permanent Secretary, expressed the Ministry’s commitment to collaborating with Jaiz Bank in critical areas such as maritime infrastructure development, commercial market facilities, inland waterways transportation, fisheries and aquaculture, as well as housing and property development.
“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 maximize the sector’s contribution to national development,” she said.
Mrs. Mahmood identified the optimization of inland waterways transportation as a priority area for partnership, noting that water transport is significantly more cost-effective than road transportation and offers immense potential for reducing logistics costs while easing pressure on the nation’s road infrastructure.
She also called for targeted financing interventions in fisheries and aquaculture to boost domestic fish production, strengthen food security, create jobs, and improve livelihoods across coastal and riverine communities.
In addition, she welcomed collaboration on affordable housing and property development schemes for civil servants, aimed at promoting long-term financial security and wealth creation.
Earlier, the Managing Director, Jaiz Bank Plc, Dr. Haruna Musa, reaffirmed the Bank’s commitment to supporting the Federal Government’s economic diversification agenda through tailored non-interest financing solutions for the maritime sector.
He stated that Jaiz Bank is well-positioned to finance strategic marine and blue economy projects, support contractors involved in critical infrastructure delivery, and facilitate sustainable investments that drive economic growth.
Dr. Musa also proposed the deployment of technology-driven revenue monitoring platforms, Public-Private Partnership (PPP) financing models for large-scale infrastructure projects, and financial literacy and asset acquisition programmes designed to improve the welfare of civil servants.
The meeting concluded with a mutual commitment to establish a Joint Technical Working Group to develop a structured and actionable partnership framework. The collaboration will focus on promoting sustainable indigenous participation, expanding access to non-interest financing, enhancing commercial innovation, and maximizing the economic benefits of Nigeria’s marine and blue economy sector.
The proposed partnership is expected to strengthen investment flows into the sector while advancing the Federal Government’s agenda for economic diversification, job creation, and sustainable national development.
