When the Federal Ministry of Marine and Blue Economy released its statement on October 21, 2025, reaffirming the Minister’s “unwavering commitment” to supporting indigenous shipping and announcing government’s endorsement of the forthcoming Nigeria Maritime Exhibition and Conference (NIMAREX 2025), at the visitation of some NISA members to solicit his support, many industry observers were quick to applaud the gesture as a sign of progress.
However, for those who understand the stark realities confronting Nigeria’s shipping and maritime industry, the question is not whether NIMAREX should be revived but whether this is the right time to do so.
The planned hosting of NIMAREX – a platform traditionally meant to showcase maritime innovations, technologies, and industry achievements – appears, at this point, to be a misplaced priority. For an industry in near comatose condition, organising a grand exposition suggests that there is something to celebrate. Unfortunately, there isn’t.
The truth is, Nigeria’s indigenous shipping industry has never been this weak. The same unfulfilled promises that have echoed through successive administrations are being repeated once again: promises of funding, capacity development, fleet expansion, and policy support. None has materialised in tangible form.
While the Honourable Minister, Dr. Adegboyega Oyetola may genuinely mean well, the reality on the ground paints a troubling picture – an industry haemorrhaging from policy inertia, lack of fleet renewal, and absence of supportive infrastructure.
A maritime exposition like NIMAREX presupposes that Nigeria has developed enough indigenous capacity to exhibit in shipbuilding, maritime technology, logistics, or shipping operations. But at the moment, what do we have to showcase?
– Dwindling indigenous fleet: Most local shipowners are “spent operators,” to borrow the words of former Minister of Transportation, Rotimi Amaechi. There is simply not enough tonnage flying the Nigerian flag to represent a national fleet.
– Idle cadets and decaying infrastructure: Hundreds of trained cadets remain stranded without sea berths or training placements, while drydocks and slipways across the country lie in disrepair, with
– No access to intervention funds: Not a single indigenous shipowner has accessed the much-talked-about Cabotage Vessel Financing Fund (CVFF) or any other credible funding intervention since the Cabotage Act came into force over twenty years ago.
– Zero or little participation in new industrial opportunities: Even major projects like the Dangote Refinery, which now require significant coastal shipping operations, have yet to meaningfully engage indigenous shipowners as core logistics partners.
In such a fragile state, hosting NIMAREX feels like putting the cart before the horse. It sends the wrong signal to the public and international community that the Nigerian maritime industry is thriving when, in truth, it is struggling to breathe.
What the industry needs now is not another ceremonial event but urgent policy reform and financial intervention. The government must first address the foundational problems that have crippled indigenous shipping, including:
1. The immediate disbursement of the Cabotage Vessel Financing Fund (CVFF) to eligible operators.
2. The establishment of a Maritime Sovereign Fund, as another layer of interventionist fund, to attract long-term private and institutional financing;
3. The enforcement of Cabotage compliance and local content laws; and
4. The restoration of sea-time opportunities and ship repair infrastructure.
Without these, any attempt to project the image of a vibrant industry through NIMAREX or similar expos will ring hollow.
The recent visit by a section of the Nigerian Shipowners’ Association (NISA) to the Minister, primarily to solicit support for NIMAREX, reinforces this misplaced sense of priority At a time when the industry desperately needs capacity development, financing, and policy coherence, such a focus risks diverting attention from the real issues. It creates the impression that indigenous shipowners are doing well and have something to display when the reverse is unfortunately the case. Rather than celebrating, the sector should be in strategic recovery mode; rebuilding fleet capacity, retraining manpower, and regaining competitiveness in coastal shipping.
There is no doubt that NIMAREX is a laudable platform with great potential to unite the maritime industry, attract investment, and showcase Nigerian capability. But timing matters. Hosting such an event in the current climate, without first fixing the fundamentals, is like exhibiting an empty showroom.
Before banners are printed and exhibition halls booked, NISA must first ensure that Nigerian shipowners are empowered to own ships, trained to manage them, and enabled to compete within their own waters.
Let NIMAREX wait until the sector has something real to exhibit; ships, innovations, partnerships, and genuine success stories. Until then, the priority should remain capacity building, access to finance, and policy execution – the true hallmarks of a government serious about repositioning its maritime economy.
Taiwo Franklin Akinpelumi
Industry Stakeholder
Lagos, Nigeria
October 22, 2025