The announcement was made by the Minister of Marine and Blue Economy, Dr. Adegboyega Oyetola, during the ministry’s combined citizens and stakeholders’ engagement, sectoral performance review, and ministerial retreat held in Lagos yesterday.
Dr. Oyetola said the government had made “significant progress” in reviving the national carrier and confirmed that reputable international partners had committed to collaborating on the project. “We are working closely with these global partners to bring this vision to reality,” he stated, emphasizing the anticipated benefits for local shipping operators and the wider economy.
The minister highlighted that the revitalised national carrier would not only retain maritime value within Nigeria but also create new employment opportunities in the sector. He noted that the initiative complements other strategic interventions, including the imminent disbursement of the Cabotage Vessel Financing Fund (CVFF), which is designed to empower indigenous ship owners. “By strengthening local capacity, we are positioning Nigeria to play a more competitive role in global shipping,” Oyetola said.
Addressing concerns about port development, Oyetola clarified that the Federal Government’s port modernisation programme is a nationwide effort, rather than being focused solely on Lagos. Procurement processes are already underway for upgrades at ports in Warri, Port Harcourt, Onne, and Calabar, in addition to approved improvements at Apapa and Tin Can Island ports.
The minister also disclosed that new deep seaports have received approval for development in Bayelsa, Cross River, Akwa Ibom, and Ondo states. According to Oyetola, these initiatives are aligned with the government’s economic diversification agenda and are expected to stimulate trade, lower the cost of doing business, and attract investment across multiple sectors.
The announcement signals a renewed commitment to positioning Nigeria as a key maritime hub in Africa while promoting indigenous participation in shipping and port operations.