Nigeria Secures UAE Backing for National Carrier

By Enakaye Peculiar

The Federal Government has secured the interest of investors from the United Arab Emirates to support the revival of a national shipping carrier, a move aimed at strengthening Nigeria’s maritime sector and boosting economic growth.

Minister of Marine and Blue Economy, Adegboyega Oyetola, disclosed that discussions with leading global maritime firms have reached an advanced stage, signaling renewed investor confidence in the country’s shipping industry. He explained that the proposed national carrier would reduce dependence on foreign shipping lines, retain more revenue within the country, and create employment opportunities for Nigerians.

The initiative is part of broader reforms in the maritime sector, including plans to disburse the Cabotage Vessel Financing Fund (CVFF) to empower indigenous shipowners and enhance local participation.

Oyetola also highlighted ongoing port modernisation efforts across key locations such as Lagos, Warri, Port Harcourt, Onne, and Calabar, alongside plans to develop new deep seaports to expand capacity and ease congestion.

The government believes these combined efforts will lower the cost of doing business, attract more investment, and position Nigeria as a leading maritime hub in Africa.

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