No going back on repositioning indigenous shipping industry - Oyetola
By Seun Ibiyemi
The Minister of Marine and Blue Economy, Dr. Adegboyega Oyetola, has reiterated the Federal Government’s unwavering commitment to strengthening Nigeria’s indigenous shipping industry, declaring that there is no going back on efforts to reposition local operators for global competitiveness.
Oyetola made this known on Tuesday in Abuja when he received a delegation from the Nigeria Maritime Exhibition and Conference (NIMAREX) 2025 Planning Committee, led by its Chairman and President of the Nigerian Shipowners Association (NISA), Mr. Sola Adewunmi.
The team also included Ms. Funmi Folorunso, Secretary of the Committee, and Mr. Tounbo Ogunwale, Director of Government Relations.
The visit was to seek the Ministry’s support for the upcoming NIMAREX 2025, scheduled to hold in Lagos from November 17 to 19, 2025.
Commending the committee for reviving the once-dormant platform, Oyetola described NIMAREX as a vital avenue for collaboration, investment promotion, and knowledge exchange within the maritime industry.
He assured that President Bola Ahmed Tinubu’s administration is taking decisive steps to create a conducive operating environment for indigenous shipowners, tackle longstanding structural challenges, and unlock the full potential of Nigeria’s maritime domain.
“Our commitment to indigenous shipping is total and irreversible,” Oyetola stated. “The Federal Government is working round the clock to put in place the right policies, funding mechanisms, and infrastructure that will enable Nigerian shipowners to compete favourably, not just locally but globally. There is no going back on this commitment.”
He further emphasized the government’s goal of ensuring that Nigerian-owned vessels fly the national flag and operate sustainably within and beyond the nation’s coastal waters, a move he said would create jobs, retain economic value, and build a stronger maritime nation anchored on local capacity.
Earlier, Mr. Adewunmi explained that the revival of NIMAREX after several years of inactivity aligns with the government’s renewed drive to attract foreign direct investment (FDI) into the maritime and blue economy sectors.
“NIMAREX is back, and this time it is bigger, broader, and better aligned with national objectives,” he said. “We have the support of key industry associations including NISA, the Shipowners Association of Nigeria (SOAN), and the Nigerian Chamber of Shipping. Our goal is to position Nigeria as a leading maritime hub in Africa.”
Adewunmi commended President Tinubu for creating the Ministry of Marine and Blue Economy, and lauded Oyetola’s visionary leadership and inclusive stakeholder engagement, which he said has rekindled confidence among shipowners and investors.