Nigeria, China to unlock $2b maritime investment

August 7, 2025 by Chikodi Okereocha

The Federal Government, through the Ministry of Marine and Blue Economy, is advancing a Nigeria–China Maritime Strategy aimed at unlocking over $2 billion in shipping investment.

The initiative, which will accelerate indigenous vessel ownership and position the country as a regional maritime hub, has been formally presented to the Minister of Marine and Blue Economy, Adegboyega Oyetola, at the Ministry’s headquarters in Abuja.

The $2 billion investment deal is the result of a strategic collaboration between the Nigeria-China Strategic Partnership (NCSP) and the Global Investment Advisory Community (GIAC), through its Nigerian operator, Anabel Capital.

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The strategy is designed to catalyse local participation in the maritime industry by capitalising Nigerian-owned shipping companies and linking them with Chinese shipyards, charter firms, and investment banks.

It also outlines substantial investment in vessel acquisition, maritime training institutions, and the procurement of modern training vessels.

According to the economic blueprint, the initiative will deliver $2 billion in vessel investments, $20 billion in freight contracts for Nigerian operators, $200 million for maritime training, and $50 million for training vessels.

The programme is expected to create over 2,000 new maritime jobs annually, train 25,000 globally certified Nigerian seafarers, and build a robust local shipping ecosystem.

Minister Oyetola described the strategy as a “game changer” that aligns with the Ministry’s overarching priorities for sectoral reform and economic growth

He stressed the need to rapidly build indigenous capacity, deepen public-private collaboration, and transition toward Nigerian ownership of commercial vessels.

Also present at the meeting were Permanent Secretary of the Ministry, Mr. Olufemi Oloruntola; Managing Director/CEO of the National Inland Waterways Authority (NIWA), Mr. Munirudeen Bola Oyebamiji; Director-General of the NCSP, Mr. Joseph Tegbe; Managing Director of Anabel Capital, Dr. Nicholas Okoye; and Project Manager at NCSP, Ms. Lela Omo-Ikirodah.

The Nigeria–China Maritime Strategy forms part of broader efforts to translate strategic diplomacy into high-impact, private-sector-driven economic outcomes, in line with the Renewed Hope Agenda of President Bola Ahmed Tinubu.