By Diana Omueza
Abuja, Jan. 7, 2026 (NAN) – Nigeria’s maritime sector, long hampered by systemic challenges, is undergoing a profound transformation. According to the Minister of Marine and Blue Economy, Mr. Adegboyega Oyetola, a series of deliberate reforms and a renewed strategic focus are driving a remarkable resurgence after decades of neglect and underinvestment.
In a statement issued by his Special Adviser, Dr. Bolaji Akinola, Oyetola framed this revival as a cornerstone for national development, now contributing significantly to economic growth, job creation, and Nigeria’s position in global trade. This progress, he asserts, stems from systematically dismantling the structural, regulatory, and operational obstacles that have constrained the sector’s potential for years.
The Pillars of Progress: From Gridlock to Global Council
The minister outlined several key achievements underpinning this new era:
1. Conquering the Apapa Gridlock: For years, the notorious traffic paralysis around the Lagos port corridor was a symbol of Nigeria’s logistical inefficiency, disrupting supply chains and inflating costs. Oyetola highlighted that through sustained policy coordination and operational discipline in early 2024, lasting relief was achieved. The practical impact is substantial: reduced cargo dwell time (the time a container sits in the port), lower logistics costs, and restored functionality to Nigeria’s primary commercial gateways. This single fix removed a major disincentive for both local and foreign investment.
2. Reclaiming a Global Voice: A strategic diplomatic and regulatory achievement was Nigeria’s return to the International Maritime Organisation (IMO) Council after a 14-year absence. This is more than ceremonial; it restores Nigeria’s influence in shaping global maritime regulations on safety, security, and environmental standards, ensuring the nation’s interests are represented at the highest level.
3. Breaking the Infrastructure Jinx: Perhaps the most forward-looking milestone is the approval of Nigeria’s first comprehensive port modernization program in over half a century. This initiative aims to move beyond incremental repairs to a full-scale transformation. The goal is to attract larger, modern vessels (like Post-Panamax ships), drastically improve cargo handling capacity, and position Nigeria as a true maritime and logistics hub for West and Central Africa, competing with ports in Togo, Ghana, and Côte d’Ivoire.
Expanding Capacity and Unlocking Capital
The transformation extends beyond Lagos. Oyetola noted the issuance of crucial compliance certificates for the Bakassi Deep Sea Port (Cross River) and the Ondo Deep Sea Port. These deep-sea ports are critical for handling the largest container ships and diversifying port access, reducing congestion risk and opening new economic corridors.
Furthermore, two major financial breakthroughs are set to fuel indigenous participation:
- The Regional Maritime Development Bank (RMDB): Established to resolve a 16-year stalemate, this bank aims to provide the region with much-needed access to affordable, long-term financing for maritime infrastructure and vessel acquisition.
- Activation of the Cabotage Vessel Financing Fund (CVFF): After lying dormant for over two decades, this fund, administered by NIMASA, is finally set for disbursement. This is a pivotal move for Nigerian shipowners. The CVFF will provide critical capital for acquiring modern vessels, enabling them to compete effectively in coastal shipping (cabotage) and retain more of the nation’s maritime trade value domestically.
Oyetola attributed these successes to focused leadership, institutional reforms, and improved inter-agency coordination. The cumulative effect, he stated, is restored investor confidence, improved operational performance, and the solid repositioning of the maritime sector as a critical pillar of Nigeria’s economic diversification and industrialization agenda.
Edited by Benson Ezugwu/Christiana Fadare
