FG Partners Abu Dhabi Ports, DP World in Refloating National Shipping Line
Minister of Marine and Blue Economy, Adegboyega Oyetola (4th from left) flanked by staff of the Ministry and heads of agencies in the maritime sector during the signing of performance bond and stakeholders engagement in Lagos on Thursday
—As Minister Oyetola Says Port Modernisation Not Limited to Lagos
By DAPO OLAWUNI
The Minister of Marine and Blue Economy, Dr. Adegboyega Oyetola, has announced significant progress towards the refloating of a national shipping carrier, signalling a major step in strengthening Nigeria’s maritime industry.
Oyetola made the disclosure during the ministry’s combined citizens and stakeholders’ engagement, sectoral performance and ministerial retreat in Lagos on Thursday, where he outlined ongoing 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.
The Minister revealed that the government has 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.
According to Oyetola, the new national carrier will play a critical role in reducing dependence on foreign shipping lines, retaining maritime value within the Nigerian economy, and creating employment opportunities.
He linked the initiative to other strategic interventions, including the imminent disbursement of the Cabotage Vessel Financing Fund, which is aimed at empowering indigenous shipowners.
“By empowering local operators, we are strengthening national capacity and positioning Nigeria for greater participation in global shipping,” he said.
Meanwhile, the Minister has clarified that the Federal Government’s port modernisation programme is a nationwide initiative, dismissing concerns that the focus is restricted to Lagos.
Oyetola stressed that inclusive infrastructure development remains central to the Ministry’s mandate.
“Let me address a concern that has been raised in some quarters — that our focus is limited to Lagos ports. This is not the case,” he said.
He disclosed that procurement processes are already underway for the modernisation of ports in Warri, Port Harcourt, Onne, and Calabar, alongside the approved upgrades for Apapa and Tin Can Island ports.
“We are committed to a balanced and inclusive development of port infrastructure across the country,” Oyetola emphasised.
The Minister explained that the modernisation effort goes beyond infrastructure, describing it as “a transformative intervention” by the administration of President Bola Ahmed Tinubu that will enhance port efficiency, reduce vessel turnaround time, and improve cargo handling capacity.
He further revealed that approvals have been granted for the development of new deep seaports in Bayelsa, Cross River, Akwa Ibom, and Ondo States.
“These projects will expand Nigeria’s maritime capacity, decongest existing ports, open up new economic corridors, and position our country as a leading maritime gateway in Africa,” he said.
Oyetola noted that the initiative aligns with the Federal Government’s broader economic diversification agenda and is expected to stimulate trade, reduce the cost of doing business, and attract investment across multiple sectors.
Stakeholders at the event described the move as a long-awaited development that could significantly improve Nigeria’s competitiveness in international trade.
