FG, China to Unlock $2 Billion in Maritime Investment Under NCSP Strategy

by KakakiOodua Media Services in Economy, International, National, News

The Federal Government of Nigeria, through the Ministry of Marine and Blue Economy, is set to unlock over $2 billion in maritime investments following the formal presentation of the Nigeria–China Strategic Partnership (NCSP) initiative to the Honourable Minister, H.E. Adegboyega Oyetola, CON.

The NCSP delegation, led by its Director-General, Mr. Joseph Tegbe, visited the Ministry’s headquarters in Abuja where they unveiled a comprehensive Nigeria–China Maritime Strategy. The strategy is designed to boost indigenous capacity, facilitate ship acquisition, and reposition Nigeria as a major player in regional and global maritime trade.

According to the NCSP leadership, the plan outlines strategic mechanisms to empower Nigerian-owned shipping companies by providing direct access to Chinese shipyards, maritime financiers, and technical training institutions. The initiative is also expected to create new opportunities for maritime education, enhance capacity development, and support technology transfer to deepen local content across the industry.

Minister Oyetola described the strategy as a development hat aligns perfectly with President Bola Ahmed Tinubu’s Renewed Hope Agenda and the Ministry’s roadmap for a prosperous blue economy. He reiterated the Federal Government’s unwavering commitment to developing a robust, competitive, and inclusive maritime industry that is driven by local expertise and investment.

“This proposal is not just timely, it is visionary. It presents a pathway to achieving true indigenous participation in shipping and maritime logistics while opening up our economy to credible international partnerships,” the Minister stated.

He further emphasized the strategic importance of the maritime sector to Nigeria’s economic diversification efforts, adding that the government will provide the necessary institutional and policy support to ensure the full implementation of the Nigeria–China Maritime Strategy.

The NCSP initiative is expected to serve as a catalyst for vessel financing, employment generation, and infrastructural development across port cities, while positioning Nigeria as a maritime hub for West and Central Africa.

As the global shipping industry continues to evolve, the Federal Ministry of Marine and Blue Economy is intensifying efforts to harness Nigeria’s vast maritime resources, improve regulatory frameworks, and attract long-term investments in line with global best practices.

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