Nigeria Moves to Launch New National Shipping Carrier With Global Partners
The Minister of Marine and Blue Economy, Dr Adegboyega Oyetola, stood before an audience of maritime stakeholders in Lagos on Thursday and announced that the federal government has made significant progress toward relaunching a Nigerian national shipping carrier, the country’s first in over three decades.
Two of the world’s most powerful port operators, Abu Dhabi-based AD Ports Group and Dubai’s DP World, have already indicated their interest in partnering with Nigeria to make the vision a reality.
The numbers behind the announcement tell a sobering story. Since the collapse of the Nigerian National Shipping Line in September 1995, Nigeria has been losing approximately nine billion dollars every single year in freight earnings to foreign shipping companies.
At its height, the old national line operated a fleet of 30 ocean-going vessels, trained generations of Nigerian seafarers, and carried Nigerian cargo across the world. When it was liquidated, brought down by mismanagement, mounting debt, and an inability to compete with more efficient foreign competitors, all 21 of its remaining vessels were sold off.
The country has operated without a national carrier ever since. Foreign giants moved quickly to fill the gap. Companies like MSC, CMA CGM, Maersk, and Hapag-Lloyd captured Nigeria’s shipping market, and the billions of dollars that should have stayed in the Nigerian economy flowed steadily outward instead.
Private indigenous shipowners tried to plug the hole but lacked the capital and support to compete at scale. Oyetola told stakeholders that the new national carrier is not just a business project; it is a strategic tool for national development.
A Nigerian-flagged shipping line would reduce the country’s dependence on foreign operators, keep maritime income circulating within the economy, and create thousands of jobs for Nigerian sailors, logistics workers, and maritime professionals.
The announcement is directly tied to another long-delayed breakthrough. The Cabotage Vessel Financing Fund, a pot of money created under Nigerian law in 2003 specifically to help indigenous shipowners buy and build vessels, finally launched its application portal in January 2026, over two decades after it was established. Disbursements are now imminent, giving Nigerian operators access to capital they have never had before.
Stakeholders at the event welcomed the news with something close to relief, describing it as long overdue. Industry voices have argued for years that Nigeria cannot claim to be a serious maritime nation while its own cargo is carried exclusively by foreign ships.
The government says it will move forward through a public-private partnership structure, with phased development and international expertise guiding each stage of the process. #Nigeria Moves to Launch New National Shipping Carrier With Global Partners#
