•Orders disbursement of CVFF to shipowners
Minister of Marine and Blue Economy, Adegboyega Oyetola, has announced the Federal Government’s plan to replicate the success of the $1.5 billion Lekki Deep Seaport across the country’s maritime sector, citing it as a model for transformative growth and development.
Speaking at the Nigerian Chamber of Shipping Breakfast Meeting in Lagos yesterday, Oyetola declared that the administration of President Bola Tinubu is committed to building a modern, safe, and globally competitive maritime sector.
Dissecting the theme of the event, “Unlocking Opportunities: The Lekki Deep Seaport Playbook for Trade and Shipping in Nigeria,” the minister noted that a central component of the current administration’s strategy is the nationwide application of the public-private partnership model and logistical efficiency demonstrated by the Lekki Deep Seaport.
He said: “The maritime industry stands at the heart of our economic aspirations — not merely as a conduit for trade, but as a catalyst for industrial growth, job creation, and regional integration.
Achieving our vision to build a modern, safe, efficient, and globally competitive maritime sector that fully unlocks Nigeria’s economic potential will require more than sound policies.
“It demands sustained investment in infrastructure, targeted capacity building, accelerated digital transformation, and strong, enduring partnerships with the private sector.”
Oyetola confirmed that the government is applying the Lekki port model nationwide to actively modernise the Apapa and Tin Can Island Ports, and also upgrading the Eastern Ports in Onne, Calabar, and Rivers, to stimulate balanced regional growth.
He explained that the “Lekki Playbook” is founded on five key pillars: a strategic location, a robust public–private partnership framework, integrated transport links by road, rail, and inland waterways, supportive policies, and technology-driven operations.
Similarly, in a move aimed at empowering indigenous participation, the minister said he has directed the Nigerian Maritime Administration and Safety Agency (NIMASA) to immediately commence disbursement of the Cabotage Vessel Financing Fund (CVFF) to qualified Nigerian shipowners.
He emphasised that a strong national shipping fleet is essential to building local capacity and asserting the country’s presence on global trade lanes, with the ultimate goal of establishing a National Flag Carrier.
The minister urged all stakeholders to replicate, refine, and scale the Lekki port model for the prosperity of Nigeria and the African continent.
