In a significant policy address, Nigeria’s Minister of Marine and Blue Economy, Mr. Adegboyega Oyetola, has declared that the nation’s maritime sector is undergoing a profound transformation. After years of underinvestment and systemic challenges, a series of deliberate reforms is driving a remarkable resurgence, positioning the sector as a central pillar of economic growth, job creation, and national development.
Oyetola, in a statement delivered by his Special Adviser, Dr. Bolaji Akinola, outlined a comprehensive agenda that has moved beyond rhetoric to tackle the foundational obstacles that have long constrained Nigeria’s ports and shipping industry. “We have systematically dismantled long-standing structural, regulatory, and operational barriers,” the Minister stated, attributing the progress to focused leadership and improved coordination across key maritime agencies.
The cornerstone of this revival is the resolution of the infamous Apapa port gridlock. For years, this congestion paralyzed the Lagos port corridor—Africa’s busiest—disrupting continental supply chains and imposing crippling costs on trade. “In early 2024, sustained policy coordination and operational discipline delivered lasting relief,” Oyetola explained. The clearing of this artery has had a multiplier effect: reducing cargo dwell time, slashing logistics expenses, and, most critically, restoring investor confidence in Nigerian ports as reliable gateways for commerce.
On the international stage, Nigeria has reclaimed its seat on the Council of the International Maritime Organisation (IMO) after a 14-year absence. This return is not merely symbolic; it restores the nation’s voice in shaping global maritime regulations on safety, security, and environmental standards, directly impacting the terms under which Nigerian vessels trade worldwide.
Perhaps the most ambitious signal of change is the approval of Nigeria’s first comprehensive port modernization program in over half a century. This historic initiative aims to break the “jinx of obsolete infrastructure,” as the Minister described it. The goal is to attract larger modern vessels, improve cargo handling efficiency, and ultimately position Nigeria as the premier maritime and logistics hub for West and Central Africa, a title long held by competitors like Tema and Abidjan.
The expansion strategy is further evidenced by the issuance of crucial compliance certificates for the Bakassi and Ondo Deep Sea Ports. These greenfield projects are critical for decentralizing port activity, reducing pressure on Lagos, and expanding national capacity to handle future growth.
Financing this new era is a dual breakthrough. First, the establishment of the Regional Maritime Development Bank (RMDB) ends a 16-year stalemate, promising improved access to tailored maritime finance. Second, and of immediate domestic impact, is the activation of the Cabotage Vessel Financing Fund (CVFF). After lying dormant for two decades, this fund is now set for disbursement by the Nigerian Maritime Administration and Safety Agency (NIMASA). “Its activation is a major turning point for indigenous ship ownership,” Oyetola emphasized. This move is designed to empower local operators to acquire vessels, build capacity, and capture more value from the coastal trade reserved for Nigerian-flagged ships.
While the Minister’s account paints a picture of decisive progress, industry observers note that the true test will be in the sustained implementation and maintenance of these gains. The transformation of a sector plagued by decades of neglect requires consistent policy enforcement, continued anti-corruption vigilance, and private-sector partnership. Nevertheless, the outlined achievements—from the concrete relief in Apapa to the strategic financial and international diplomacy wins—suggest Nigeria’s maritime sector is finally navigating a purposeful new course toward becoming a genuine engine of the nation’s Blue Economy ambition.
Reported by Diana Omueza for the News Agency of Nigeria (NAN). Edited by Benson Ezugwu and Christiana Fadare.
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