Joyce Mmereole Okoli
The Nigerian Maritime Administration and Safety Agency (NIMASA) has charted a fresh path for transparency, efficiency, and sectoral growth with the signing of its 2026 Sectoral Performance Bond, a move officials say will accelerate reforms across the nation’s maritime industry.
Supervised by the Honourable Minister of Marine and Blue Economy, Dr Adegboyega Oyetola, the signing signals a renewed push to align the Agency’s operations with national economic priorities and the Federal Government’s Renewed Hope Agenda.
NIMASA’s Director-General, Dr Dayo Mobereola, described the Bond as more than a bureaucratic exercise, calling it a “strategic governance tool” designed to track targets, deepen institutional accountability, and drive measurable results.
Mobereola highlighted ongoing reforms under his leadership, attributing their progress to “purposeful direction and strong ministerial support.” He reaffirmed the Agency’s commitment to meeting its mandate, especially in areas central to Nigeria’s blue economy ambitions.
On maritime security, the DG disclosed an encouraging milestone: Nigeria has recorded zero piracy incidents in its territorial waters for four consecutive years, a feat he credited to enhanced surveillance and improved collaboration among security agencies.
He further announced that NIMASA is close to completing the automation of its ship registry processes, an overhaul expected to boost transparency, cut delays, and position Nigeria more competitively in the global shipping ecosystem.
Providing updates on the Cabotage Vessel Financing Fund (CVFF), Mobereola revealed that over 60 applications have poured in since the platform went live in January 2026. He assured stakeholders that the disbursement process will remain transparent and rigorously monitored.
In line with international obligations, Nigeria has deposited three maritime conventions with the International Maritime Organization (IMO), while three others await Federal Executive Council approval.
Mobereola noted that Nigeria’s return to Category C of the IMO Council in November 2025 has strengthened the nation’s voice in global maritime governance and consolidated its leadership role on the continent.
In his remarks, Minister Oyetola restated the Federal Government’s commitment to leveraging the maritime sector for economic diversification, job creation, and increased foreign exchange earnings.
He emphasized that the Performance Bonds signed by maritime agencies are binding commitments that will be strictly evaluated.
“Accountability is not optional,” the Minister declared, reinforcing the administration’s resolve to ensure measurable progress and value-driven delivery across the maritime sector.