The Minister of Marine and Blue Economy, Adegboyega Oyetola, has announced plans to end the issuance of waivers under the Coastal and Inland Shipping Act (Cabotage Act) 2003. This was disclosed in a statement by his spokesperson, Dr. Bolaji Akinola, after a meeting in Abuja with representatives of NNPC Shipping, Stena Bulk, and Caverton Offshore Support Group.
The visit also marked the official unveiling of Unity Shipping World (USW)—a new joint venture aimed at strengthening Nigeria’s tanker operations across local and international markets.
The Cabotage Act reserves coastal shipping for Nigerian-owned, crewed, built, or flagged vessels. However, due to limited local capacity, waivers have often been granted to foreign ships. Oyetola said this practice has hindered the growth of indigenous shipping companies and denied Nigerian professionals opportunities in the maritime sector.
“The era of indiscriminate waivers is ending,” he said. “We must build Nigerian tonnage, support local employment, and give indigenous operators a fair chance to succeed.”
To support this transition, Oyetola directed the Nigerian Maritime Administration and Safety Agency (NIMASA) to begin disbursing the Cabotage Vessel Financing Fund (CVFF). The fund is intended to help local shipowners acquire vessels and improve operational capacity.
He also reiterated the federal government’s plan to establish a national shipping line through a Public-Private Partnership, aimed at boosting Nigeria’s maritime presence in the region.
Caverton Offshore CEO Bode Makanjuola said Unity Shipping World would offer efficient and sustainable marine transport services, focusing on building a modern fleet and supporting NNPC’s logistics, as well as serving other energy stakeholders. He noted that the joint venture combines local knowledge with international standards and is committed to safety, sustainability, and training for Nigerian seafarers.
Panos Gliatis, Managing Director of NNPC Shipping, said the alliance would enhance domestic refining and Nigeria’s role in global energy logistics. Stena Bulk CEO Erik Hånell added that the partnership aligns with the company’s commitment to growth in key energy markets and supports Nigeria’s shipping and energy ambitions.
