By Faith Anisiobi, The Sight News
The Federal Ministry of Marine and Blue Economy has reaffirmed its commitment to leveraging strategic partnerships and innovative financing to accelerate infrastructure development and unlock the economic potential of Nigeria’s marine and blue economy.
Permanent Secretary of the Ministry, Mrs. Fatima Sugra Tabi’a Mahmood, stated this on Thursday in Abuja while receiving a delegation from Coronation Group on a courtesy visit.
Mahmood said the successful implementation of the Ministry’s programmes and projects depends on sustained investment and long-term financing, stressing that collaboration with credible financial institutions is essential to mobilize the capital required to develop key sectors of the marine and blue economy.
She assured the delegation that the Ministry would carefully evaluate the financial products and services presented to identify areas that align with its strategic priorities, policy objectives and operational needs.
The Permanent Secretary also directed the relevant department of the Ministry to undertake a comprehensive review of the proposals with a view to identifying viable areas for collaboration, including the possibility of syndicated financing for major infrastructure projects.
She added that investment opportunities for Ministry staff, including investment and share acquisition schemes, would also be examined in line with existing regulatory and institutional guidelines.
Mahmood commended Coronation Group for its longstanding relationship with the Ministry, appreciating the organization’s support for civil service capacity development and digital transformation initiatives.
Earlier, Director of Coronation Group, David Aluko, presented the company’s range of financial services, highlighting its expertise in merchant banking, securities, registrar services, insurance, asset management, financial advisory, wholesale and long-term lending, bond issuance, syndicated financing and fund management.
Aluko disclosed that the Group’s ₦20 billion Infrastructure Development Fund was established to finance critical infrastructure projects while providing sustainable investment opportunities for institutional and private investors.
He added that the Group has the capacity to mobilize long-term capital, structure infrastructure financing solutions and support government development initiatives through transparent and regulated financial instruments under the supervision of the Securities and Exchange Commission (SEC).
The meeting, according to the Ministry, is part of its broader strategy to deepen collaboration with the private sector, attract sustainable investments and deploy innovative financing solutions to enhance the growth and competitiveness of Nigeria’s marine and blue economy.
