Adegboyega Oyetola, Minister of Marine and Blue Economy, announced Thursday that Nigeria is making significant progress toward launching a new national shipping line. Speaking at a stakeholders' retreat in Lagos, Oyetola revealed the government has secured collaboration from international port operators AD Ports Group and DP World for the project. The initiative aims to reduce reliance on foreign shipping firms, keep maritime revenue within Nigeria, and generate jobs. Oyetola stated the new carrier is part of broader efforts under President Bola Tinubu's administration to transform the sector.
He confirmed that the Cabotage Vessel Financing Fund will soon disburse to support indigenous shipowners. Contrary to claims of regional bias, Oyetola said port modernisation is not limited to Lagos, with procurement already ongoing for upgrades in Warri, Port Harcourt, Onne, and Calabar. Approvals have also been given for new deep seaports in Bayelsa, Cross River, Akwa Ibom, and Ondo States. These developments, he said, will decongest existing ports and boost Nigeria's position as a maritime hub in Africa.
Oyetola demanded accountability from all agencies under his ministry, insisting on measurable outcomes and data-driven governance. Performance bonds were signed between the minister and agency heads during the event.
A national shipping line sounds ambitious, but Nigeria has heard this before—Oyetola's predecessors made similar promises with little to show. The involvement of AD Ports Group and DP World suggests this may be less about national ownership and more about public-private leverage. If the government cannot ensure local operators actually benefit from the Cabotage Fund, the new carrier risks becoming another elite-driven venture with minimal impact on Nigerian businesses or port efficiency.
