Oyetola: After Generating N1.83tn, Marine Ministry to Revive National Shipping Line
Says Nigeria undergoing most ambitious seaports upgrade in 5 decades Cites zero piracy in Nigeria’s territorial waters for 4 consecutive years States plans advancing to revive national shipping carrier through
Dr. Adegboyega Oyetola, Nigeria's Minister of Marine and Blue Economy, announced plans to revive the national shipping carrier through a Public-private Partnership (PPP) after generating N1.83 trillion in 2025, marking a 160% increase from N700.79 billion in 2023. The ministry has been at the forefront of Nigeria's most ambitious seaports upgrade in five decades, focusing on regulatory reforms, digitalisation, and closure of financial leakages.
Oyetola stated that the long-awaited disbursement of the Cabotage Vessel Financing Fund (CVFF) has commenced, enabling Nigerian shipowners to acquire modern vessels. He emphasized that rebuilding the national shipping industry is essential for a truly blue economy.
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