In a move poised to transform Nigeria’s maritime landscape, the Federal Government, in collaboration with China, has unveiled a strategic $2 billion maritime investment plan to accelerate indigenous vessel ownership and establish Nigeria as a dominant regional maritime hub.
The bold initiative, presented to the Minister of Marine and Blue Economy, Adegboyega Oyetola, at the Ministry’s headquarters in Abuja, forms part of a broader Nigeria–China Maritime Strategy under the Renewed Hope Agenda of President Bola Ahmed Tinubu.
The multi-billion-dollar maritime investment drive is spearheaded by the Nigeria-China Strategic Partnership (NCSP) in collaboration with the Global Investment Advisory Community (GIAC). The local execution is being facilitated by Nigerian financial consultancy firm Anabel Capital.
Speaking at the presentation, Oyetola hailed the initiative as a “game changer”, noting its alignment with the government’s maritime sector reforms aimed at fostering indigenous participation and boosting Nigeria’s global shipping relevance.
“We must build capacity quickly, encourage public-private collaboration, and transition toward a Nigeria-owned fleet capable of meeting regional and global demand,” the minister said.
Present at the high-level meeting were the Ministry’s Permanent Secretary, Mr. Olufemi Oloruntola; NIWA Managing Director, Mr. Munirudeen Bola Oyebamiji; NCSP Director-General, Mr. Joseph Tegbe; Anabel Capital CEO, Dr. Nicholas Okoye; and NCSP Project Manager, Ms. Lela Omo-Ikirodah.
The maritime strategy is built around unlocking major shipping investments by:
Capitalizing Nigerian-owned shipping companies
Facilitating access to Chinese shipyards and charter firms
Establishing long-term freight contracts and shipping routes
Providing financing via Chinese investment banks
According to the economic blueprint, the initiative is projected to deliver:
$2 billion in vessel investments
$20 billion in freight contracts for Nigerian maritime operators
$200 million investment in maritime training institutions
$50 million for acquiring training vessels
This partnership is expected to generate over 2,000 maritime jobs annually, while training 25,000 globally certified Nigerian seafarers in the next few years. It will also enhance the country’s capacity to compete with top-tier global shipping markets.
By building a robust ecosystem around local shipping ownership and crew training, the initiative aims to reduce Nigeria’s heavy reliance on foreign-flagged vessels, which currently dominate its import and export logistics.
Nigeria’s maritime industry, despite its massive potential due to the country’s strategic coastal position and booming import-export economy, has struggled with issues such as:
Lack of indigenous vessel ownership
High capital barriers to entry for local operators
Inadequate maritime education infrastructure
Overdependence on foreign shipping firms
With the unveiling of the Nigeria–China Maritime Strategy, these gaps are now being directly targeted with funding, training, and international collaboration.
According to Dr. Nicholas Okoye of Anabel Capital, this partnership is not merely a financing deal but a holistic economic development plan designed to integrate Nigerian operators into the global shipping value chain.
“We are aligning global investment capacity with local talent, creating a future where Nigeria dominates shipping in West and Central Africa,” he said.
The Ministry of Marine and Blue Economy has committed to fast-tracking regulatory approvals and engaging other critical agencies, including the Nigerian Maritime Administration and Safety Agency (NIMASA) and Nigerian Ports Authority (NPA), to provide institutional support for the strategy’s full implementation.
With proper execution and policy backing, the Nigeria–China Maritime Strategy is set to usher in a new era of economic diversification, employment, and sovereign control in the maritime sector.