Nigeria targets return to sea power with Maritime Bank-backed carrier

Thirty years after the collapse of its former national fleet, the Nigerian government plans to establish a state-owned shipping carrier to champion its interests in global trade.

The ambition is, in addition to other things, anchored on financing from the Regional Maritime Development Bank (RMDB) to develop the country’s maritime sector.

The blueprint of operation, unveiled by the bank’s president, includes aiding cabotage vessel acquisitions, shipbuilding and repair of Nigeria’s outdated port facilities.

The bank, which recently struck a $150 million deal with Nigeria for the upgrade and expansion of “a major shipyard”, said it is also prioritising port construction and modernisation, developing inland waterways transportation, and funding multimodal logistics.

“Our implementation plan addresses critical gaps in maritime infrastructure and capacity, with a sharp focus on building a national carrier to assert Nigeria’s presence in international shipping,” said Adeniran Aderogba, the bank’s pioneer president during a meeting with top officials of the Federal Ministry of Marine and Blue Economy recently in Abuja.

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“This is not just about financing projects, it’s about creating a legacy of maritime excellence, resilience, and regional integration,” he said.

Nigeria will hope not to make a former mistake. The country’s previous carrier, called the Nigerian National Shipping Line (NNSL), was liquidated in 1995 after 36 years as a state-owned enterprise due to struggles with mismanagement, corruption, and competition from more efficient foreign lines.

At its peak, NNSL operated a fleet of 24 oceangoing vessels and played a key role in training Nigerian seafarers and supporting national trade. Upon shutdown, all its vessels were sold off.

Stakeholders at the meeting were able to agree that success would rely on “synergy” among all Ministries, Departments and Agencies (MDAs). focused on aligning national efforts toward maritime sector growth and infrastructure development.

“Collaboration with all relevant government agencies and private sector actors is central to our mission,” Aderogba said.

An inter-ministerial committee is to be set up to provide immediate policy support for projects implementation.

Aderogba said that the carrier, among other interventions, is crucial to elevating Nigeria’s position in global maritime and trade, especially improving its rank in West and Central Africa.