Joyce Mmereole Okoli
In a major policy shift aimed at revitalizing Nigeria’s maritime industry, the Minister of Marine and Blue Economy, Adegboyega Oyetola, has announced a definitive end to the era of indiscriminate cabotage waivers, vowing to boost local participation and capacity in the nation’s shipping sector.
Oyetola made the declaration in Abuja during a high-level meeting with stakeholders from NNPC Shipping, global maritime company Stena Bulk, and Nigerian offshore service provider Caverton Offshore Support Group. The meeting followed the unveiling of Unity Shipping World (USW) , a joint venture by the three entities designed to enhance domestic and regional shipping of crude oil, refined petroleum products, and LNG.
“The era of indiscriminate waivers is coming to an end,” Oyetola said. “We cannot continue to undermine our local capacity under the guise of temporary foreign intervention. It is time to build Nigerian tonnage, support Nigerian jobs, and give indigenous operators a fair chance to thrive.”
Under the Coastal and Inland Shipping (Cabotage) Act of 2003, domestic shipping within Nigeria’s coastal waters is reserved for Nigerian-owned, -crewed, and -built or -flagged vessels. However, waivers granted over the years to foreign vessels ostensibly due to insufficient local capacity have significantly limited opportunities for local players.
To counter this, Oyetola reaffirmed his directive to the Nigerian Maritime Administration and Safety Agency (NIMASA) to begin disbursing the long-delayed Cabotage Vessel Financing Fund (CVFF), which is expected to support Nigerian shipowners in acquiring modern vessels.
“The disbursement of the CVFF is no longer optional, it is imperative,” he stressed. “Our indigenous operators must be empowered to compete effectively.”
The Minister also reiterated plans to establish a national shipping carrier through a Public-Private Partnership (PPP), a move he believes will solidify Nigeria’s status as a maritime force in West Africa.
During the visit, Caverton Offshore’s CEO Bode Makanjuola described the launch of Unity Shipping World as a “game-changer” for the sector, pledging to build a modern, efficient, and sustainable fleet that supports NNPC’s logistics needs and services the broader energy market.
“This partnership is the culmination of extensive planning and a shared vision,” Makanjuola said. “Unity Shipping World will proudly fly the Nigerian flag and play a critical role in training and empowering Nigerian seafarers.”
NNPC Shipping Managing Director Panos Gliatis and Stena Bulk CEO Erik Hånell both expressed confidence in the venture’s potential to reshape Nigeria’s maritime and energy logistics landscape.
“This strategic alliance enhances domestic refining, imports, and exports, reinforcing Nigeria’s pivotal role in global energy logistics,” Gliatis said.
