The federal government has moved closer to reviving a national shipping carrier, with the Minister of Marine and Blue Economy, Adegboyega Oyetola, announcing major progress toward making the initiative operational.
Oyetola disclosed this during the ministry’s stakeholders’ engagement and performance retreat in Lagos, where he outlined ongoing efforts to strengthen Nigeria’s maritime sector and boost indigenous shipping capacity.
“I am pleased to inform you that we have made significant progress toward the refloating of a National Shipping Carrier”, the minister said.
He revealed that the government has attracted interest from leading global maritime operators, including AD Ports Group and DP World, to partner in bringing the project to fruition.
According to Oyetola, the new national carrier is expected to reduce Nigeria’s reliance on foreign shipping lines, retain more economic value within the country, and generate employment opportunities across the maritime value chain.
The minister linked the development to other strategic interventions, notably the planned disbursement of the Cabotage Vessel Financing Fund (CVFF), aimed at empowering indigenous shipowners and enhancing local participation in coastal shipping.
“By empowering local operators, we are strengthening national capacity and positioning Nigeria for greater participation in global shipping”, he said.
Industry stakeholders at the event described the initiative as a long-awaited step that could significantly boost Nigeria’s competitiveness in international trade and maritime logistics.
The move is part of broader efforts by the federal government to reposition the marine and blue economy as a key driver of economic growth and diversification.