Maritime Agencies
Oyetola Opens LIMWEEK 2024, Harps On Port Efficiency and Safety
By Izuchukwu Ozoemena
Nigeria’s Marine and Blue Economy Minister, His Excellency Adegboyega Oyetola says in the maritime world, port efficiency and safety are critical components that can never be overlooked while discussing economic growth, trade and investment.
The Minister stated this in Lagos, Tuesday, while declaring open the 2024 edition of the Lagos International Maritime Week (LIMWEEK) and the Business To-Business Conference and Exhibition with the theme ‘Navigating the Future of Africa’s Marine & Blue Economy – Safety First.’
Improvement in safety and ports efficiency, he explained, top the chart on the responsibilities President Bola Tinubu handed to him to achieve as Minister.
The Minister, who was represented by Mr Chinedu Mbam, Legal Director in the Ministry, added that government was fully committed to drive the modernisation and improvement of the ports and maritime infrastructure.
By upgrading the nation’s ports to global standards, he noted, Nigeria will position herself to become a leader in international maritime trade since ports serve as gateway to prosperity.
“We understand that port efficiency and safety are not options; they are imperatives for unlocking the full potential of the blue economy. This is significant because safety remains the cornerstone upon which all maritime operations and business success rest.”
Through key safety initiatives such as the Deep Blue Project, he explained, Nigeria and, indeed the Gulf of Guinea, have achieved reasonable reduction in maritime crimes such as piracy, sea robbery and smuggling.
Mrs Sofiye Uzor (Centre) receiving the Award on behalf of Engr Greg Ogbeifun.
In his contribution, the Lagos Star Commissioner of Police acknowledged his responsibility to secure the maritime domain, including the intricate inland waterways crucial to Nigeria’s economy and Africa’s broader maritime sector. “The Gulf of Guinea, as many of us are aware of, is both a region rich in resources and a key artery for global maritime trade also faces persistent security challenges. The Nigeria Police, through its Maritime Command, has played a pivotal role in securing our maritime domain. Our mandate extends beyond merely patrolling the waterways. We work hand-in-hand with other national and international agencies to protect vital assets, combat piracy and ensure that our marine environment is safe and secure for all stakeholders.”
The Police boss who spoke through Chief Superintendent of Police Segun Falemara said as a matter of routine, the Police collaborates with NIMASA and other critical stakeholders in joint operations to reduce maritime crimes.
“The Marine Police deploys advanced surveillance techniques, leveraging human intelligence and technological solutions to monitor criminal activities along the waterways.”
“Through regional and international partnerships, we ensure our officers are well trained to address emerging maritime threats and security challenges.”
To achieve reasonable security in the Gulf of Guinea, he suggested a coordinated effort from the component littoral states and international partners.
Nigeria, he recalled, has been at the forefront of fostering regional collaboration to ensure a safer maritime environment.
“Some of these include the AGWE Project and the SWAIM SAR Project.” The AGWE Project anchored by the Interpol is a collaborative programme of five West African states aim at training, mentoring and providing equipment for boosting maritime security while SWAIM (Support to West African Integrated Maritime Security) have enhanced the search-and- rescue capabilities in the Gulf of Guinea.
“These initiatives have improved the region’s ability to swiftly respond to maritime emergencies and criminal activities, fostering safety on our waters”. He explained that the United Nations Office on Drugs and Crime has been invaluable in supporting Nigeria’s efforts to combat piracy and armed robbery at sea.
“Through UNODC, the Danish government has funded training programmes that have equipped our offices with Visit, Board, Search and Seizures (VIBSS) procedures in conjunction with the Nigerian Navy to combat illegal activities at sea.
On the proliferation of dangerous materials, he said that partnering with the International Atomic Energy Agency (IAEA) and the US International Counter-proliferation Programme, Nigeria has worked to prevent the smuggling of hazardous materials and weapons of mass destruction into the Gulf of Guinea. This is a critical step towards ensuring that the blue economy is not compromised by illicit activities that would have devastating environmental and security consequences.
The Suppression of Piracy and Other Maritime Offences Act, 2019, he said, has significantly strengthened Nigeria’s legal framework for tackling piracy and other maritime crimes. “It aligns our national laws with international frameworks and provide the necessary legal backing for prosecuting offenders in Nigeria.”
Through the Harmonized
Standard Operating Procedures (HSOPs), efforts are on to ensure that regional maritime security agencies adhere to harmonized SOPs, ensuring a “legal finish” in prosecuting maritime offenders.
Nigeria participates actively in national and regional maritime security conferences such as the Yaounde Architecture for Maritime Security which facilitates coordination between West and Central African states. Mentoring programmes including training supported by international partners such as the US and European Union have played a key role in improving Nigeria’s operational capabilities. “The Nigeria Police also contributes to the 2050 Africa’s Integrated Maritime Strategy (2050 AIM Strategy), comprehensive, concerted, coherent and coordinated approach that improve maritime conditions with respect to environmental and socio-economic development as well as the capacity to generate wealth from sustainable governance of Africa’s blue economy.”
The Police boss assured Nigeria’s commitment to the development of her blue economy through fostering safety and security across her maritime domain.
In his intervention from the perspective of the British Royal Navy, Commander Daniel Waskett, SO2 Marine, disclosed the UK strategy which is to establish long-term and mutually-beneficial partnerships with African nations to build on shared interests for safer, healthier and more prosperous future for all. However, like many nations committed to ensuring a free, secure global common maintenance of international rules-based order and supporting democracy, he stated, the UK is experiencing a time of increased operational demand the Royal Navy is deploying globally at a scale unprecedented for many years.
“Destroyers and Frigates are protecting shipping in the Red Sea to ensure trade can continue freely.”
Highlight of the event, among others, was the conferment of a lifetime achievement award on Engr Greg Ogbeifun, Chairman, Starzs Marine and Engineering Co Ltd.
Maritime Agencies
Customs FOU Zone ‘A’ Hits Smugglers Hard, Confiscates 23, 220 Matchettes, Other Contrabands Worth over N6.19bn.
By Izuchukwu Ozoemena
Acting Controller, Federal Operations Unit Zone ‘A’ of the Nigeria Customs Service, Deputy Comptroller O.O.Afeni has extolled the importance of intelligence-driven enforcement, improved surveillance, risk-based examination, stricter compliance checks and stronger collaboration with relevant government agencies in anti-smuggling operations.
Deputy Comptroller Afeni stated this in Lagos, Tuesday, during his maiden press engagement since assumption of duty.
Between September 30 and November 3, he announced, the Unit recovered ₦683.66 million following enhanced compliance checks, stricter scrutiny of import declarations, correction of under-valuations and issuance of demand notices.
195 smuggling attempts involving prohibited and restricted goods with a Duty Paid Value (DPV) of ₦6.19 billion, he explained, were foiled following four weeks of intensified enforcement operations
Seizures made, he stated, included 5,986 parcels of Cannabis sativa and indica weighing 3,407.83 kilogrammes, 3,028 bags of imported rice weighing 50 kilogrammes each, 995 bags of 25 kilogrammes, 104 bags of 20 kilogrammes and 207 bags of five kilogrammes.
Others were 6,949 cartons of spaghetti, 459 bales and 39 jumbo sacks of second-hand clothing, 23,220 pieces of new matchets, 1,236 used tyres, 21 foreign-used vehicles and 1,250 cartridges of Red Star 12-calibre ammunition.
Other seized items included 57 cartons, 37 packs and six pieces of codeine syrup; 400 grammes of cocaine; 100 grammes of methamphetamine; 250 cartons of Lotus sardines without NAFDAC numbers; 173 cartons of imported frozen poultry products; and 8,025 litres of Premium Motor Spirit (PMS).
Additional interceptions comprised 101 bags of imported sugar weighing 50 kilogrammes each, 12 bags of Grain Oat products weighing 25 kilogrammes each, eight bags of imported creamer powdered milk weighing 25 kilogrammes each, eight live pangolins, 20 cartons of couscous, 33 used rims and one 40-foot container, number SEG U5347239, containing 2,760 pieces of office chairs in Completely Knocked Down (CKD) form.
Eleven means of conveyance were also intercepted.
Deploring the quantum of narcotics intercepted and the risk on public health, Afeni cited the United Nations Office on Drugs and Crime (UNODC) World Drug Report 2025 which identified cannabis as the most available and widely used drug which accounts for an estimated 42 per cent of drug use disorder cases worldwide.
He said the interception had helped prevent the circulation of dangerous substances and their associated social and health consequences.
He gave kudos to the NDLEA, Police, Nigeria Immigration Service, the Army, DSS, NAFDAC, NESREA and other sister agencies for their collaboration.
Afeni assured compliant importers, licensed customs agents and other members of the trading public that the Unit would facilitate legitimate trade but would not tolerate duty evasion, false declarations or activities that threaten national security.
He commended the Customs Comptroller-General, Bashir Adewale Adeniyi, and the NCS management for the confidence reposed in him, while praising officers of the Unit for their courage, professionalism and commitment to duty.
Members of the public, he requested, owe Nigeria a duty to report suspicious activities and support lawful trade even as he warned smugglers and economic saboteurs that Customs is ever prepared to disrupt their networks for the overall interest of the nation.
Maritime Agencies
Oyetola, Omatseye, Akabogu, Other Dignitaries To Attend Network of Nigerian Maritime Journalists Unity Conference in Lagos.
By Izuchukwu Ozoemena
Come November 13, 2026, the Network of Nigeria Maritime Journalists (NNMJ), an umbrella body of all maritime journalists, will convene her Unity Conference.
Venue is the Airport Hotel, Ikeja, Lagos.
This is contained in a release jointly signed by Dele Aderibigbe and Jerry Aguigbo, NNMJ’s President and Publicity Secretary respectively.
The Conference is aimed at bringing together maritime industry regulators, policymakers, outstanding industry leaders and other stakeholders to examine the future of Nigeria’s maritime sector.
Key themes include a special focus on the performance, policy direction and operational efficiency of the maritime industry under the new Marine and Blue Economy Ministry with particular emphasis on port modernisation, empowerment and training programmes, trade facilitation and revenue generation.
Barr Temi Omatseye
The Special Guest of Honour is HE Adegboyega Oyetola, the Minister of Marine and Blue Economy while the former Director-General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Barrister Temisan Omatseye, will chair the conference.
Renowned maritime lawyer, Barrister Emeka Akabogu, SAN, is billed to deliver the keynote address.
Emeka Akabogu, SAN
The event whose theme is “Seaport Modernisation, Trade Facilitation and Revenue” is expected to provide a platform for constructive engagement among government officials, maritime professionals and private-sector operators on practical strategies for strengthening Nigeria’s maritime industry. It will also role out ways and means to maximise the contributions of the Ministry and the sector to national economic growth.
Key areas of discussion will include the modernisation of seaports and the renewal of critical infrastructure, improved trade facilitation, enhanced ease of doing business, revenue growth and measures to curb financial leakages.
Participants will also examine opportunities for expanding the marine and blue economy, creating employment, strengthening maritime safety and security, and improving the overall competitiveness of Nigeria’s maritime sector.
Dele Aderibigbe, President, NNMJ
The conference is also expected to reinforce the role of the maritime media in promoting accountability, providing informed industry analysis and advancing constructive engagement on policies and reforms affecting the nation’s marine and blue economy.
The event tagged the Unity Conference enables the NNMJ to encourage informed dialogue, strengthen collaboration among public and private-sector stakeholders, and promote policy initiatives that will enhance port efficiency, facilitate legitimate trade, improve revenue performance and unlock the economic potential of Nigeria’s maritime sector.
Maritime Agencies
SCAN SUMMIT, 2026: Conversion to Earn Higher Interest Rates, the Bane of the CVFF, Omatseye says.
By Izuchukwu Ozoemena
As the back-and-forth surrounding the disbursement of the Cabotage Vessel Financing Fund (CVFF) keeps playing out, a light has been shed on the actual worth of the accrued sum, talking about the Dollar value, its Naira equivalent, among other things and the impact this could have in determining the number of beneficiaries and the eventual achievement of the objective.
Ship owner and former Director-General, Nigerian Maritime Administration and Safety Agency (NIMASA), Temisan Omatseye, offered the clarification in Lagos, Thursday, at the 2026 edition of the Annual Summit of the Shipping Correspondents’ Association of Nigeria (SCAN) whose theme was ‘Low-Risk Capital for Indigenous Shipowners: Overcoming Regulatory, Financial Bottlenecks’.
Barrister Omatseye explained that contrary to pervading impressions, the $350 million CVFF was not retained in dollars. It was converted into naira to earn higher interests, leaving its dollar value exposed to the vagaries of exchange rate.
The decision to convert the funds into naira was driven by the significantly higher interest rates available in the domestic market at the time compared with dollar deposits internationally.
At the time when calls for the disbursement of the CVFF was at the peak, he explained, interest rates in Nigeria stood between 23 and 25 per cent while dollar-denominated investments offered returns of about one to two per cent. The strategy was to convert dollar CVFF receipts to naira to maximise interest earnings in the domestic financial market.
“Interest rate at that time was quite high, 23 per cent, 24 per cent, 25 per cent. And interest rate in dollars was about one or two per cent. Dollar interest rate is very, very low internationally,” he said.
Dollar receipts were changed to naira while the overall proceeds were lodged into local currency accounts which guaranteed higher interest rates. But the naira depreciation of 2023, significantly affected the fund’s value when measured in dollars. He cautioned that the original $350 million valuation could not be assumed to remain unchanged because the funds were held in naira rather than dollars.
“So you cannot be looking at $350 million as of 2019 to be the same $350 million today, because the money is held in naira,” he said.
Omatseye urged stakeholders to distinguish between the fund’s historical dollar valuation and its current value, explaining that the latter would depend on the actual naira balance and the prevailing exchange rate.
“When you guys speak of $350 million, CVFF is not held in dollars. It’s in naira, and at the present exchange rates, keep your realistic eye,” he said.
He added that determining the fund’s current dollar equivalent required converting the available naira balance at the applicable exchange rate. The former NIMASA director-general also noted that any claims about an increase in the fund’s value should be established through verifiable financial records.
Speaking through Mrs Anastasia Ogbonna, Director of Press at the Federal Ministry of Marine and Blue Economy, the Minister, H.E.Adegboyega Oyetola reaffirmed the Federal Government’s commitment to accelerating the disbursement of the CVFF to qualified indigenous shipowners. Oyetola announced that he had directed NIMASA to commence the disbursement process to eligible beneficiaries as, according to him, President Bola Tinubu was committed to building a competitive maritime sector that would enable Nigerian entrepreneurs participate meaningfully in domestic and international shipping.
Access to long-term financing at commercially- sustainable rates, he added , remains a major challenge for indigenous shipowners because vessel acquisition requires substantial capital, while high borrowing costs, collateral requirements and lengthy repayment periods place operators at a disadvantage.
He said the government had taken concrete steps to operationalise the CVFF, established under the Coastal and Inland Shipping (Cabotage) Act of 2003 to support indigenous vessel ownership.
Oyetola disclosed that in January 2026, a dedicated application portal was launched to promote transparency, accessibility and efficiency in the process, while the number of approved Primary Lending Institutions (PLIs) was increased from five to 12. He added that NIMASA had been directed to work closely with the approved lending institutions to accelerate the assessment of applications and disbursement to qualified beneficiaries. However, he stressed that the fund must be administered with transparency, rigorous due diligence and prudent risk management, describing it as a revolving facility whose sustainability depended on responsible borrowing, repayment and accountability.
“Our commitment to the effective implementation of the Cabotage Act remains equally firm. We recognise that protecting the legitimate participation of Nigerians in domestic shipping must go hand in hand with building their financial, technical and operational capacity, ” he said. Oyetola also urged financial institutions to develop financing products suited to the commercial realities of the maritime industry and called on shipowners to embrace sound corporate governance, proper financial reporting and disciplined repayment practices. He said reducing investment risks required more than making funds available, stressing the importance of a predictable regulatory environment, credible business plans, transparent financing arrangements, effective insurance and reliable revenue streams.
Beyond the CVFF, the minister said the government was pursuing broader initiatives to strengthen indigenous participation in shipping, improve maritime safety, develop Nigerian seafarers and expand services supporting vessel ownership and operations.
He also disclosed that the government was exploring a commercially driven national shipping line initiative based on private capital, professional management, strategic partnerships and international expertise. The initiative would complement indigenous operators, expand Nigeria’s shipping capacity and operate on a sustainable commercial basis. Oyetola said the government’s broader objective was to encourage greater Nigerian ownership of vessels capable of serving domestic trade and competing in international shipping, while creating more opportunities for Nigerian seafarers to gain sea-time experience and secure employment. He called for stronger collaboration among government, shipowners, financiers, regulators and industry professionals to remove regulatory and financial bottlenecks, strengthen indigenous shipping and ensure that Nigerians secure a greater share of opportunities in the maritime economy.
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