Lagos: The Minister of Marine and Blue Economy, Adegboyega Oyetola, has disclosed significant progress toward refloating a national shipping carrier to strengthen Nigeria’s maritime industry. Oyetola made the disclosure on Thursday at the ministry’s three-in-one stakeholders’ engagement and performance retreat in Lagos, outlining efforts to boost indigenous shipping capacity. “I am pleased to inform you that we have made significant progress toward the refloating of a National Shipping Carrier,” he said.
According to News Agency of Nigeria, Oyetola stated that the government had secured the interest of leading international partners, including AD Ports Group and DP World, to collaborate on the initiative. “We have secured the interest of reputable international partners who are collaborating with us to bring this vision to fruition,” he added.
He explained that the proposed national carrier would reduce dependence on foreign shipping lines, retain maritime value locally, and create employment opportunities. Oyetola linked the initiative to strategic interventions, including the imminent disbursement of the Cabotage Vessel Financing Fund (CVFF), to empower indigenous shipowners and strengthen capacity. “By empowering local operators, we are strengthening national capacity and positioning Nigeria for greater participation in global shipping,” he said.
Stakeholders at the event described the development as long overdue. A stakeholder mentioned that the successful revival of a national carrier would enhance Nigeria’s international trade competitiveness and reposition the country as a regional maritime hub.