Nigeria has announced a new partnership with AD Ports Group and DP World towards the establishment of a new National Shipping Line, signalling a major step in strengthening Nigeria’s maritime industry.

Announcing this on Thursday in Lagos during the Ministry of Marine and Blue Economy’s three-in-one stakeholders’ engagement and performance retreat, the Minister of Marine and Blue Economy, Adegboyega Oyetola, stated that, “I am pleased to inform you that we have made significant progress toward the refloating of a National Shipping Carrier.

“We have secured the interest of reputable international partners like AD Ports Group and DP World. They are collaborating with us to bring this vision to fruition.”

Oyetola explained that the new national carrier will play a critical role in reducing dependence on foreign shipping lines, retaining maritime value within the Nigerian economy, and creating employment opportunities.

He linked the initiative to other strategic interventions, including the imminent disbursement of the Cabotage Vessel Financing Fund, which is aimed at empowering indigenous shipowners.

“By empowering local operators, we are strengthening national capacity and positioning Nigeria for greater participation in global shipping,” he said.

Oyetola also used the opportunity to clarify that the Federal Government’s port modernisation programme is a nationwide initiative, dismissing concerns that the focus is restricted to Lagos.

He disclosed that procurement processes are already underway for the modernisation of ports in Warri, Port Harcourt, Onne, and Calabar, alongside the approved upgrades for Apapa and Tin Can Island ports.

The Minister explained that the modernisation effort goes beyond infrastructure, describing it as “a transformative intervention” by the administration of President Bola Ahmed Tinubu that will enhance port efficiency, reduce vessel turnaround time, and improve cargo handling capacity.

He further revealed that approvals have been granted for the development of new deep seaports in Bayelsa, Cross River, Akwa Ibom, and Ondo states.

“These projects will expand Nigeria’s maritime capacity, decongest existing ports, open up new economic corridors, and position our country as a leading maritime gateway in Africa,” he said.

Oyetola noted that the initiative aligns with the Federal Government’s broader economic diversification agenda and is expected to stimulate trade, reduce the cost of doing business, and attract investment across multiple sectors.

On revenue generation, Oyetola announced a remarkable 160 per cent increase in revenue generated by agencies under his Ministry, attributing the surge to sweeping reforms and a renewed focus on accountability.

“In 2023, our agencies generated ₦700.79 billion. By the end of 2025, this figure had risen to approximately ₦1.83 trillion. This remarkable achievement is the result of deliberate and sustained reforms,” he stated.

The Minister explained that the gains were driven by strengthened regulatory oversight, improved revenue assurance mechanisms, digitalisation of key processes, and a firm commitment to blocking leakages.

Oyetola linked the ministry’s improved performance to broader sectoral reforms, including port modernisation, approval for disbursement of the Cabotage Vessel Financing Fund (CVFF), and ongoing efforts to enhance indigenous participation in maritime activities.

Industry stakeholders at the event, including terminal operators, shipowners, trade associations, and the diplomatic corps, commended the Ministry’s performance, describing it as a sign of growing institutional discipline and investor confidence in Nigeria’s marine and blue economy.

 

 

Copyright © 2026 Nigerian Tribune Provided by SyndiGate Media Inc. (Syndigate.info).