FG expands maritime investments, targets 50,000 new jobs

The Federal Government has stepped up efforts to unlock opportunities in Nigeria’s maritime sector, with ongoing investments projected to create about 50,000 jobs across shipping, port operations, fisheries, and related services. Recent government projections linked 30,000 jobs to the Cabotage Vessel Financing Fund (CVFF) and another 20,000 to port modernisation projects.

Speaking at the commissioning of the new Institute of Maritime Studies multipurpose building at the University of Lagos on Thursday, Minister of Marine and Blue Economy, Adegboyega Oyetola, said the investment drive forms part of a broader strategy to position the blue economy as a major pillar of growth, employment, and diversification.

The facility, donated by the Nigerian Maritime Administration and Safety Agency, features modern lecture halls, laboratories, and specialised training infrastructure aimed at strengthening research, teaching, and innovation in maritime studies.

Oyetola described the project as a major boost to the Federal Government’s human capital agenda, stressing that the future of the industry depends on producing highly skilled professionals through institutions such as the University of Lagos.

He noted that with more than 90 per cent of Nigeria’s trade moving through maritime routes, the sector remains central to expanding trade efficiency, unlocking investment opportunities, and supporting long-term job creation.

According to the minister, the planned disbursement of the CVFF is expected to significantly expand indigenous shipping capacity and generate around 30,000 jobs, while ongoing port modernisation programmes could add another 20,000 positions as Nigeria strengthens its competitiveness as a regional maritime hub.

He also highlighted the progress of the Nigerian Seafarers Development Programme, under which 2,459 Nigerians have received maritime training in countries including the United Kingdom, Egypt, the Philippines, India, and Romania, with 1,088 already earning their Certificates of Competency.

Beyond shipping, the minister pointed to opportunities in fisheries and aquaculture, noting that Nigeria’s annual fish demand of 3.6 million metric tonnes offers major prospects for food security, wealth creation, and employment.

In his remarks, NIMASA Director-General, Dayo Mobereola, said the agency is working with eight Nigerian universities and international institutions, including the World Maritime University, to deepen manpower development in the sector.

He said the partnership with UNILAG would strengthen research capacity, support evidence-based policymaking, and produce graduates ready to meet the demands of the global maritime economy.

Vice-Chancellor of UNILAG, Folasade Ogunsola, said the new building would enhance training in maritime law, shipping management, logistics, port operations, and marine environmental studies.

She added that the institute is strategically positioned to serve as a hub for innovation and interdisciplinary research capable of driving national development.

The Pro-Chancellor and Chairman of Council, Wole Olanipekun, commended the Federal Government’s sustained support, reaffirming the university’s commitment to advancing maritime education and capacity building.

Established in 2013, the Institute of Maritime Studies has continued to grow into a strategic centre for maritime research and professional training in Nigeria and across Africa, with Thursday’s commissioning drawing key players from both academia and the maritime industry.