ABUJA, Nigeria — Nigeria is preparing to revive a national shipping carrier through a public-private partnership (PPP) as the Federal Government seeks to expand indigenous participation in the maritime industry and turn the country’s blue economy into a larger source of revenue, trade and employment.

Minister of Marine and Blue Economy Dr Adegboyega Oyetola disclosed the plan at the weekend, saying the government’s maritime reforms had already produced a sharp increase in revenue generated by the ministry.

According to Oyetola, the ministry generated N1.83 trillion in 2025, representing a 160 per cent increase from the N700.79 billion recorded in 2023.

He said the increase reflected improvements in regulatory processes, revenue assurance, digitisation and measures designed to eliminate financial leakages across the maritime system.

The minister said the next phase of the reform programme would focus increasingly on ensuring that Nigerian companies and citizens capture a greater share of the economic opportunities created by the country’s maritime assets.

“We cannot build a truly blue economy if Nigerians remain spectators in their own maritime industry,” Oyetola said.

Government plans national shipping carrier

Oyetola said the Federal Government was developing plans to establish a national shipping carrier through a PPP arrangement, potentially marking a significant shift in Nigeria’s long-running effort to build indigenous shipping capacity.

A national carrier could give Nigerian operators a larger presence in international shipping markets and increase domestic participation in freight services associated with the country’s import and export trade.

The government is also moving to unlock the long-delayed Cabotage Vessel Financing Fund (CVFF), which is designed to provide financing support to Nigerian shipowners seeking to acquire modern vessels.

Oyetola said the disbursement process had commenced.

The move is expected to strengthen the capacity of indigenous operators to participate more effectively in coastal and inland shipping and reduce Nigeria’s dependence on foreign-owned vessels.

Blue economy policy creates investment framework

The minister said Nigeria’s blue economy strategy was reinforced in May 2025, when the Federal Government approved the country’s first National Policy on Marine and Blue Economy.

The policy provides a unified framework covering shipping, fisheries, offshore energy, marine biotechnology and other emerging areas of the marine economy.

According to Oyetola, the policy is intended to provide greater certainty for investors while ensuring that marine resources are developed sustainably.

“At the heart of our mandate is a simple but powerful objective: to turn Nigeria’s vast marine resources into sustainable economic value for Nigerians,” he said.

Nigeria has an approximately 853-kilometre coastline, alongside extensive inland waterways, giving the country significant potential to expand maritime trade, logistics, fisheries, offshore services and other ocean-based industries.

Port modernisation takes centre stage

Port infrastructure remains central to the government’s maritime strategy.

Oyetola said the ministry had launched what he described as Nigeria’s most ambitious upgrade of major seaports in five decades.

The programme covers Apapa, Tin Can Island, Onne, Rivers, Calabar and Warri ports, with investments focused on deeper channels, modern cargo-handling facilities and digitalised terminal operations.

The objective is to enable Nigerian ports to accommodate larger vessels, improve cargo turnaround times and lower logistics costs for importers and exporters.

The minister cited international recognition of the reforms, noting that the World Bank and S&P Global Market Intelligence ranked Tin Can Island Port 10th and Lagos Port Complex, Apapa, 12th among the world’s 20 most improved container ports between 2020 and 2025.

For businesses, improvements in port efficiency can have a direct impact on supply-chain costs and the competitiveness of Nigerian exports.

Apapa congestion measures reshape cargo movement

Oyetola also pointed to progress in tackling the long-standing congestion around the Apapa port complex.

He attributed the improvement to measures including the electronic truck call-up system, dedicated holding bays and increased use of inland barges.

The Nigerian Ports Authority (NPA), he added, has acquired modern tugboats, pilot cutters and dredging equipment to improve marine operations.

“We have moved from managing congestion to building a port system that can compete globally,” Oyetola said.

Reducing port congestion remains strategically important for Nigeria because delays at major gateways can increase demurrage, raise inventory costs and undermine the competitiveness of businesses dependent on imported inputs or export logistics.

Maritime security improves Nigeria’s investment profile

Nigeria has also recorded improvements in maritime security, according to the minister.

Oyetola said the country had maintained zero piracy in its territorial waters for four consecutive years, supported by maritime security assets deployed under the Deep Blue Project.

Improved maritime security can reduce risks and costs for shipping companies operating in Nigerian waters.

The minister said the security gains had contributed to the elimination of costly piracy-related surcharges imposed on vessels calling at Nigerian ports, while strengthening Nigeria’s reputation as a safer maritime corridor.

The progress has also had an international dimension.

Nigeria regains international maritime influence

In November 2025, Nigeria regained its seat on the International Maritime Organization (IMO) Category C Council after a 14-year absence.

The ministry, through the Nigerian Maritime Administration and Safety Agency (NIMASA), also secured the lifting of a 12-year-old U.S. Coast Guard Condition of Entry restriction affecting vessels arriving from Nigerian ports.

Oyetola described the developments as evidence that Nigeria’s maritime reforms are extending beyond domestic infrastructure and regulation.

“These achievements demonstrate that Nigeria is not only reforming its maritime sector at home; we are reclaiming our rightful voice and influence internationally,” he said.

For international shipping companies, stronger regulatory and security credentials could improve confidence in Nigeria as a regional maritime hub.

Deep seaports and inland logistics expand

The government is also pursuing new maritime infrastructure beyond Nigeria’s existing major gateways.

Oyetola said deep-seaport projects were being advanced in Akwa Ibom, Cross River, Bayelsa, Ondo, Lagos and Rivers states.

At the same time, the operationalisation of inland dry ports is intended to bring cargo-handling and customs-clearance services closer to businesses located far from the coastline.

He cited the Funtua Inland Dry Port in Katsina State as an example of efforts to extend the benefits of maritime infrastructure into Nigeria’s hinterland.

The strategy could help reduce pressure on coastal ports while lowering the cost of moving cargo between inland production centres and international markets.

Port regulation saves users N86bn

Regulatory reforms have also produced financial benefits for port users, Oyetola said.

The minister said the new Nigeria Port Economic Regulatory Authority (NPERA) Act had strengthened the regulatory framework, while interventions by the agency had saved port users more than N86 billion in unjustified demurrage.

Nearly 300 commercial disputes, he added, had been resolved through Alternative Dispute Resolution mechanisms.

The ministry has also moved to curb unauthorised shipping charges and reduce capital flight through freight and foreign-exchange verification.

For importers and exporters, stronger economic regulation could improve cost predictability and reduce disputes associated with port operations.

Nigeria invests in seafarers and maritime skills

The government is also seeking to increase the number of Nigerians participating in the maritime industry’s skilled workforce.

Oyetola said free seafarer training, academic programmes and sea-time placements had expanded opportunities for young Nigerians, contributing to an increase of more than 80 per cent in average seafarer earnings.

He also said the ministry, through the Nigeria Port Economic Regulatory Agency, formerly known as the Nigerian Shippers’ Council, facilitated a N200,000 monthly minimum wage for maritime and shipping workers.

The emphasis on human capital reflects a broader challenge for Nigeria: infrastructure investment will generate limited local economic value if the country lacks the skilled workforce required to operate ships, ports, logistics systems and maritime technologies.

Maritime logistics support refinery growth

Nigeria’s changing energy landscape is also creating new opportunities for the maritime sector.

Oyetola said the ministry supported the Federal Government’s Naira-for-Crude policy by streamlining marine logistics for domestic refineries.

The development could become increasingly important as Nigeria expands domestic refining capacity and seeks to reduce its historical dependence on imported petroleum products.

Efficient marine logistics will be critical for moving crude oil, refined products and other energy commodities between producers, refineries, storage facilities and domestic and international markets.

Inland waterways and fisheries also targeted

The government’s blue economy programme extends beyond seaports and shipping.

Oyetola said inland-waterway safety measures had included the distribution of thousands of life jackets, alongside plans to replace unsafe wooden boats with modern fibreglass vessels.

In fisheries, he said national fish production reached 1.4 million metric tonnes in 2025.

Nigeria also achieved 100 per cent compliance with Turtle Excluder Device requirements among inspected commercial shrimp trawlers, a measure designed to protect marine biodiversity while preserving access to international markets.

The development illustrates the increasingly interconnected nature of Nigeria’s blue economy strategy, spanning transportation, trade, fisheries, offshore energy, environmental protection and maritime security.

Digitalisation and regional finance

The ministry has also begun digitising its internal processes through an Enterprise Content Management System (ECMS), which Oyetola said was designed to improve efficiency and transparency.

He also said the ministry helped resolve a 16-year impasse that paved the way for the operationalisation of the Regional Maritime Development Bank (RMDB) in Nigeria.

Access to specialised maritime financing could become important as the government seeks to expand indigenous shipping capacity, modernise vessels and develop large-scale marine infrastructure.

From maritime potential to economic value

Nigeria’s maritime transformation comes at a time when governments and investors globally are paying greater attention to blue-economy opportunities, including shipping, port

logistics, offshore energy, fisheries and marine technology.

The country’s geographic position gives it the potential to serve not only its domestic market but also the wider West and Central African region.

The government’s challenge will be to convert individual infrastructure and regulatory reforms into a coherent maritime ecosystem in which Nigerian businesses can compete effectively with international operators.

The proposed national shipping carrier and renewed push to disburse the CVFF could become important tests of that ambition.

For Nigeria, the objective is ultimately larger than increasing government revenue.

It is about ensuring that ships, ports, logistics, finance, skills and marine resources generate more value within the Nigerian economy, while making the country a more competitive gateway for regional and international trade.

“The blue economy is no longer an untapped frontier. It is becoming a major engine of national prosperity, regional competitiveness and sustainable growth,” Oyetola said.