Minister of Marine and Blue Economy, Adegboyega Oyetola, has announced plans to end waivers for foreign vessels under the Coastal and Inland Shipping (Cabotage) Act of 2003, as part of efforts to strengthen the nation’s maritime sector.
He said the move aims to boost local participation in the shipping industry, create employment opportunities, and support the growth of indigenous shipping companies.
The Cabotage Act restricts domestic coastal shipping operations to Nigerian-owned, Nigerian-crewed, and Nigerian-built or -flagged vessels. However, the law provides for waivers that allow foreign vessels to operate in the absence of sufficient local capacity.
Oyetola noted that the frequent granting of such waivers over the years has undermined the development of the country’s maritime industry by limiting opportunities for local operators.
He emphasised that ending the waivers would help reposition the sector, encourage investment in local shipping capacity, and ensure greater benefits for the Nigerian economy.
The minister dropped the hint while receiving a high-level delegation from NNPC Shipping, Stena Bulk, and Caverton Offshore Support Group in Abuja.
The visit comes on the heels of the formal unveiling of Unity Shipping World (USW), a newly formed joint venture by NNPC Shipping, Stena Bulk, and Nigerian offshore service leader, Caverton Offshore Support Group. The joint venture aims to establish a robust tanker operation capable of transporting crude oil, refined products, and LNG within Nigeria, West Africa, and globally.
“The era of indiscriminate waivers is coming to an end,” Oyetola declared. “We cannot continue to undermine our local capacity under the guise of temporary foreign intervention. It is time to build Nigerian tonnage, support Nigerian jobs, and give indigenous operators a fair chance to thrive. That is the only sustainable path to maritime development.”
As part of this renewed focus on indigenous capacity, the Minister had directed the Nigerian Maritime Administration and Safety Agency (NIMASA) to immediately commence the process that will lead to the disbursement of the Cabotage Vessel Financing Fund (CVFF).
Also speaking during the visit, the CEO of Caverton Offshore Support Group, Bode Makanjuola, described the joint venture as a game-changer for the country’s maritime industry.
Managing Director of NNPC Shipping, Panos Gliatis, said, “With this strategic alliance, we are enhancing domestic refining, imports, and exports – reinforcing Nigeria’s pivotal role in global energy logistics.”
Stena Bulk’s President & CEO, Erik Hånell, echoed the sentiments, noting that the venture aligns with his company’s goals.
IN a related development, Comptroller-General of the Nigeria Customs Service (NCS), Adewale Adeniyi, has championed President Bola Tinubu’s Renewed Hope Nigeria First policy by endorsing locally manufactured vehicles during a high-level inspection in Abuja.
He led a high-profile inspection of the locally made vehicles produced by members of the Nigeria Automotive Manufacturers Association (NAMA) at the Customs headquarters.
Adeniyi praised the aesthetics and performance claims of the vehicles, expressing confidence in their quality and functionality, saying: “We have been assured by the manufacturers that the vehicles are quite efficient.”
The CGC lauded the policy initiative in the automobile industry.
“What gives me joy is that in all the vehicles I have seen today, there is an imprint of Nigeria, which shows that they are fully assembled here. It gives me joy that Mr. President’s policy is on the right course,” he added.
Adeniyi assured stakeholders that the Service will continue to patronise Nigerian-made vehicles and also promote policies that support the growth of the local automotive industry.
Chairman and Chief Executive Officer of Cedric Masters Group, Ilekuba Anslem, commended the Customs boss for his unwavering support for the automobile industry.
Also, the Chairman and Chief Executive Officer of Nord Automobile Limited, Oluwatobi Ajayi, praised the CGC, stating that he had, before the announcement of policy been championing made-in-Nigeria vehicles.
Similarly, a Director at Innoson Vehicle Manufacturing Company Limited (IVM), Jonas Ojukwu, assured the Service of the company’s commitment to delivering the best to it.
Other stakeholders from Mikano Motors and Stallion Motors echoed similar commitments, pledging their support for the Service and the broader vision of an industrialised and self-reliant Nigeria.
