Against the backdrop of a dwindling marine fisheries resource base, declining catch rates, and escalating conflicts about securing rights over oceanic resources, this paper emphasises the need to relook at the marine fisheries regulatory regime in the country with a view to better align it to address outstanding issues and emerging challenges. It proposes a number of interventions that include revisiting the marine fisheries regulatory acts, expanding regulation to areas beyond territorial waters, carrying out commensurate institutional reforms, harnessing technological advancements, facilitating co-governance along with relevant stakeholders, operationalising the fao Code of Conduct for Responsible Fisheries, and garnering multilateral cooperation.