Oyetola advances plan to revive national shipping carrier

Minister of Marine and Blue Economy, Adegboyega Oyetola, has disclosed significant progress toward refloating a national shipping carrier to strengthen Nigeria’s maritime industry.

Oyetola made the disclosure on Thursday at the ministry’s three-in-one stakeholders’ engagement and performance retreat in Lagos, outlining efforts to boost indigenous shipping capacity.

“I am pleased to inform you that we have made significant progress toward the refloating of a National Shipping Carrier,” he said.

He said government had secured interest of leading international partners, including AD Ports Group and DP World, to collaborate on the initiative.

“We have secured the interest of reputable international partners who are collaborating with us to bring this vision to fruition,” he added.

According to him, the proposed national carrier will reduce dependence on foreign shipping lines, retain maritime value locally, and create employment opportunities.

He linked the initiative to strategic interventions, including imminent disbursement of the Cabotage Vessel Financing Fund (CVFF), to empower indigenous shipowners and strengthen capacity.

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

Stakeholders at the event described the development as long overdue.

A stakeholder said successful revival of a national carrier would enhance Nigeria’s international trade competitiveness and reposition the country as a regional maritime hub.(NAN)