Unlocking CVFF & ports improvement: Oyetola’s maritime revolution in two years

Sometime in August 2025, tragedy was averted when small wooden boat carrying nine villagers swayed precariously in the waters of Mokwa Local Government Area of Niger State. As the boat developed a fault in the middle of the journey, the passengers panicked, but unlike previous unfortunate occurrences, they had hope and stayed afloat before rescue came. It was not a mere stroke of fate or luck; the passengers were saved by the life jackets which had been given to them just before they boarded.

Speaking about the incident, Hajia Hadiza Idris Kuta, Niger State’s Commissioner for Transport, said all nine passengers were saved because they were all wearing life jackets. “This is the impact the jacket has had on ferry operations in Niger State,” she said, adding that the 3,700 life jackets donated to the state have been distributed to all boat operators in the 17 local government areas connected by water in the state.

Launched in April this year, the life jacket campaign is a deliberate policy by the Ministry of Marine and Blue Economy under Adegboyega Oyetola, and as seen in Niger State, it has proven to be a life-saving initiative across Nigeria’s inland waterways.

Under the initiative supported by the National Inland Waterways Authority (NIWA), about 42,000 jackets have been distributed across several riverine states, including Niger, Bayelsa, Anambra, Akwa Ibom, Delta, Taraba, Ogun, and others, with strict rules mandating jackets before boarding,

“Our inland waterways are receiving priority attention. We have distributed over 42,000 safety jackets, deployed ferries, patrol boats, and trained water marshals. These efforts are already yielding results in reducing boat mishaps nationwide,” the Minister of Marine and Blue Economy, Adegboyega Oyetola, said at a July 2025 stakeholders’ forum in Lagos.

Earlier in August, while receiving the report of the Special Committee on the Prevention of Boat Mishaps in Nigeria, Oyetola noted that “The safety of our citizens on water is not just a policy responsibility; it is a moral duty. Every life lost in a boat mishap is one too many,” adding that the report will serve as a foundation for immediate and long-term reforms.

“We will study the recommendations closely and act where policy adjustments or institutional coordination are required.”

The life jacket initiative is one among the bold steps taken by the Ministry of Marine and Blue Economy, which was established by the President Bola Tinubu’s administration in August 20, 2023. In just two years, this ministry has carried out significant reforms to not only ensure safety in Nigeria’s inland waterways, but to also improve the maritime sector and the marine and blue economy.

Under Oyetola, there has been concerted efforts to unlock the potential of Nigeria’s 850-kilometre coastline and 10,000 kilometres of inland waterways, from efforts to improve shipping, boosting fish production to upgrading ports infrastructure. This integrated approach has begun to reposition Nigeria as a critical maritime leader in West Africa.

Unlocking the CVFF

Just as safety reforms are reshaping lives along Nigeria’s inland waterways, reforms are underway to unlock opportunities for indigenous shipowners. For over 20 years, the Cabotage Vessel Financing Fund (CVFF) was enmeshed in bureaucratic challenges and remained a mirage for Nigerian shipowners. However, the tides turned when Oyetola broke the bureaucratic barrier. In 2025, the minister directed the Nigerian Maritime Administration and Safety Agency (NIMASA) to commence the disbursement of the CVFF, ushering a historic chapter for indigenous shipowners and the maritime sector.

The CVFF, which will provide incentives for indigenous shipowners to own ship vessels, will also harness the potential of the country’s vast blue economy, and lead to the creation of more jobs for thousands of Nigerians in the maritime sector. Estimates from industry analysts suggest that successful implementation could create over 25,000 new jobs — both direct and indirect — while boosting local fleet capacity by at least 30 percent in five years.

“Nigerians must be at the helm of the shipping business itself. A strong national shipping fleet is essential to retaining value, building local capacity, and asserting our presence on global trade lanes,” Oyetola stated recently in his keynote at the Nigerian Chamber of breakfast meeting in August 2025.

“With a robust and transparent disbursement framework in place, this major step will enable our shipowners to acquire new vessels, expand capacity, and move decisively towards the establishment of a National Flag Carrier — flying our flag proudly across the world’s shipping routes,” he added.

Ports infrastructure development

Another milestone achieved under Oyetola’s leadership is the long-standing Apapa port gridlock, which was addressed through a bouquet of solutions. These include digital systems, traffic restructuring, and logistics upgrades to clear the systemic chaos at the Apapa and Tin-Can Island Ports.

“Under the leadership of President Bola Ahmed Tinubu, GCFR, this administration is committed to taking the lessons of Lekki and applying them nationwide to transform our entire port system into a network of modern, efficient, and competitive gateways,” Oyetola said recently.

He added that, “To this end, we are modernising the Western Ports in Apapa, upgrading the Eastern Ports in Onne, Calabar, and Rivers to stimulate balanced regional growth, and finalising the Port Community System — integrated with the National Single Window — to create a paperless, transparent, and secure digital environment for all maritime stakeholders.”

In improving ports infrastructure, the strategic economic importance of the Lekki Deep Seaport as a game changer in the maritime sector development cannot be overemphasised.

Located within the Lagos Free Trade Zone and valued at $1.5 billion, Lekki Deep Sea port is regarded as the first deep-sea facility of its kind in West Africa. Already, it has created thousands of direct and indirect, jobs and is projected to contribute over $200 billion to government revenue during its concession period.

At the August 2025 Lagos breakfast meeting, Oyetola described the Lekki Deep Seaport as a landmark achievement, adding that the Federal Government, in collaboration with the Lagos State Government and private sector partners, has completed critical access roads linking the port directly to major highways.

“For the first time in decades, a major Nigerian port is not trapped behind logistical bottlenecks. Cargo now moves out faster, investors move in with confidence, and trade flows without unnecessary delay,” Oyetola stated, noting that the Deep Sea port is already enhancing Nigeria’s competitiveness as a logistics hub.

“The success of Lekki offers a replicable model for trade and shipping growth in Nigeria. The “playbook” is in our hands; now we must replicate it, refine it, and scale it for the prosperity of Nigeria and the African continent,” he said.

Mapping a blueprint for growth

But there can be no sustainable growth without a deliberate strategy. This is why the Ministry of Marine and Blue Economy envisioned Nigeria’s first National Policy on Marine and Blue Economy, a 10-year roadmap to harness the country’s vast ocean and inland water resources for economic growth, job creation, and environmental sustainability.

In May 2025, Oyetola’s vision came to life when President Tinubu approved the National Policy on Marine and Blue Economy. Reiterating the objective of the policy recently, the Minister noted that the policy aims to diversify Nigeria’s oil-dependent economy. by creating jobs, attracting investment, and protecting the environment, in alignment with the administration’s Renewed Hope Agenda.

Under Oyetola leadership, the Ministry of Marine and Blue Economy has also recorded significant gains in other areas, including the establishment of the Regional Maritime Development Bank, which will help to finance shipping, port modernisation, and critical maritime infrastructure.

Nigeria’s bid for the IMO Council’s Category C seat, is also focused on positioning the country as a regional maritime leader and shaping global maritime laws for the benefit of the African continent.

The transfer of the Federal Department of Fisheries and Aquaculture to the ministry in 2024 has also led to a 100% compliance rate in Turtle Excluder Devices (TEDs) regulations, ensuring vital access to global markets like the US and EU, which is expected to improve export earnings. This crucial step will further enhance food security and livelihoods.

Small wonder that the ministry scored 75% in a 2024 performance evaluation by the Central Results Delivery Coordination Unit, ranking among federal ministries. It’s a testament of Oyetola’s quiet but impactful leadership in effective policy implementation across infrastructure, security, and stakeholder engagements.

“The opportunities before us are immense, and our determination to unlock them is greater still. Together, let us build a maritime sector that drives inclusive growth, strengthens our regional leadership, and positions Nigeria as Africa’s most efficient and reliable gateway to global trade,” Oyetola stated recently.

A bold statement by the Minister, but it is certainly one that is achievable.

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