Starzs to sign shipbuilding contractNigeria may see fresh investment by indigenous shipowners following the return of more than $27 billion in oil and gas Final Investment Decisions (FIDs) and the long-awaited activation of the Cabotage Vessel Financing Fund (CVFF). Tugboats, which support anchoring and crude export operations, remained in demand as long as Nigeria continued exporting oil. NIMASA’s Director-General, Dr Dayo Mobereola, said the revised interest rate reflected the government’s commitment to easing the financial burden on indigenous operators. Beyond Nigeria, indigenous operators are also looking outward, as Ogbeifun disclosed that the lessons of the downturn had reinforced the need to think continentally rather than nationally. Speaking on human capital, Ogbeifun stressed the challenge of providing mandatory sea-time training for cadets, a costly obligation many shipowners struggle to meet.

Source: The Guardian February 09, 2026 18:28 UTC