Blue Economy
UK, FRANCE TO LEAD 30-NATION TALKS ON HORMUZ SECURITY AS EUROPEAN NAVIES MOBILISE
UK, FRANCE TO LEAD 30-NATION TALKS ON HORMUZ SECURITY AS EUROPEAN NAVIES MOBILISE
By Okeoghene Onoriobe | Waterways News Correspondent, Lagos
The United Kingdom and France are set to spearhead high-level discussions involving approximately 30 countries aimed at reopening and securing the Strait of Hormuz, the world’s most consequential oil and gas shipping lane, according to reports.
The talks, expected to begin this week, will centre on coordinating a multinational response to ensure safe maritime passage through the waterway. A follow-up meeting of defence chiefs of staff is also anticipated as part of the broader security initiative, with a formal conference on strait security likely to be convened shortly thereafter.
The planned coalition effort follows reports that United States President Donald Trump attempted to transfer responsibility for securing the strait to European allies and countries including Japan, Australia, and Canada — a move that did not advance as anticipated. Preparations to safeguard the route have since continued without direct American participation.
An earlier meeting involving several countries was held in London on March 19, where participants signed a joint declaration expressing readiness to support safe transit through the strait. Canada, which had previously declined a similar request from Washington, is now expected to join the expanded coalition. A summit to finalise operational details is likely to take place in Portsmouth.
European nations have already begun deploying naval assets to designated assembly points near Cyprus and in the southwestern Indian Ocean as part of the mission’s early operational phase.
Why the Hormuz Strait Cannot Be Allowed to Close
The Strait of Hormuz — a narrow channel linking the Persian Gulf with the Gulf of Oman and the Arabian Sea, bordered by Iran to the north and Oman and the UAE to the south — is the single most critical chokepoint in global energy shipping. Analysts warn that any sustained closure or disruption would trigger immediate and severe consequences for international oil and gas markets.
Nigeria Watch
What the Hormuz crisis means for Nigerian maritime operators
For Nigeria’s maritime sector, the deteriorating security situation at the Strait of Hormuz is not a distant geopolitical concern — it has direct operational and commercial implications.
Tanker chartering and freight rates: Nigeria remains a significant crude oil exporter, and global tanker availability is tightly linked to route security. Any prolonged disruption at Hormuz — through which an estimated 20 percent of global oil trade passes — will tighten tanker supply worldwide, pushing up charter rates on Atlantic and West African routes. Nigerian crude exporters, including the Dangote Refinery now active in the export market, could face elevated freight costs or vessel scarcity on spot fixtures.
Bunker markets and PMS pricing: A Hormuz closure scenario would likely spike global crude benchmarks, feeding directly into bunker fuel costs for vessels calling at Apapa, Tin Can, and Lekki. Port operators and shipping agents should factor potential bunker price volatility into their near-term cost projections.
LNG supply chains: Nigeria LNG exports transit routes that intersect with Hormuz-dependent supply chains. Disruption to Middle Eastern LNG flows could redirect vessel traffic and reshape global LNG freight patterns, with knock-on effects on Nigerian cargo scheduling and berth availability.
Regulatory watch — NIMASA and the Federal Ministry of Marine and Blue Economy: As a Gulf of Guinea coastal state and Africa’s largest oil producer, Nigeria has a strategic interest in the outcome of these multilateral security talks. NIMASA’s engagement with international maritime security frameworks — including IMO mechanisms — will be worth monitoring as the coalition effort takes shape.
Freight forwarders, port operators, tanker charterers, and energy traders with exposure to Middle Eastern supply chains should treat the Hormuz situation as an active risk variable in their planning for Q2 2026.
NIMASA Receives Over 60 CVFF Applications, Vows Open and Accountable Disbursement
By Okeoghene Onoriobe | Waterways News Correspondent | Lagos
The Nigerian Maritime Administration and Safety Agency (NIMASA) has disclosed that it has received more than 60 applications for the Cabotage Vessel Financing Fund (CVFF), a development that signals fresh momentum in the push to strengthen indigenous participation in Nigeria’s shipping sector.
The agency equally assured stakeholders that the disbursement of the fund would be handled transparently, with strict accountability measures guiding every step of the process.
The disclosure came on Thursday in Lagos, during the signing of the 2026 Performance Bond between NIMASA’s Director-General, Dr. Dayo Mobereola, and the Minister of Marine and Blue Economy, Dr. Adegboyega Oyetola.
At the event, Minister Oyetola left no room for ambiguity, issuing a pointed directive to heads of agencies under his ministry to focus on results and shun complacency.
“Let me emphasise that all Departments and Agencies under the Ministry must remain firmly focused on delivering tangible results,” the Minister stated.
He further stressed that the performance bonds carry real weight, describing them as binding commitments subject to close monitoring and rigorous evaluation — not documents to be signed and shelved.
“These are not ceremonial documents. They are binding commitments. Accountability will not be optional,” Oyetola declared.
Speaking after the signing, Director-General Mobereola said the reforms being pursued at NIMASA are deliberate and are being driven with strong backing from the Ministry, adding that the agency remains firmly aligned with the Federal Government’s Renewed Hope Agenda.
On maritime security, Mobereola highlighted a landmark achievement: Nigeria has recorded zero piracy incidents in its territorial waters over the past four years. He attributed this record to enhanced surveillance systems and improved collaboration among security agencies.
The NIMASA chief also announced that the agency is close to completing the automation of its ship registry processes — a reform expected to eliminate administrative delays, speed up turnaround times, and sharpen Nigeria’s competitiveness in the global maritime industry.
Additionally, Mobereola noted that Nigeria has deposited three maritime conventions with the International Maritime Organization (IMO), with three more pending Federal Executive Council approval. He also highlighted Nigeria’s re-election into Category C of the IMO Council in November 2025 as a milestone that restores the country’s standing in global maritime governance and reinforces its leadership role on the African continent.
Waterways News | www.waterwaysnews.ng
Oyetola Orders NSC Probe into Alleged Plot to Squeeze Out Local Barge OperatorsÂ
Minister vows zero tolerance for anti-competitive behaviour as indigenous operators cry foul over foreign interference at Nigerian seaports
By Oghenewoke Onoriode|Waterways News Correspondent, LAGOS
The Minister of Marine and Blue Economy, Dr Adegboyega Oyetola, has ordered the Nigerian Shippers’ Council (NSC) to investigate allegations that a coordinated effort is underway to push indigenous barge operators out of Nigeria’s seaport logistics chain.
The directive came during the 2026 First Quarter Citizens/Stakeholders’ Engagement, Sectoral Performance Review, and Ministerial Management Retreat of the Federal Ministry of Marine and Blue Economy, held in Lagos on Thursday.
Operators Raise the Alarm
Representatives of local barge operators used the platform to allege that certain foreign interests are engaged in a deliberate campaign to undermine their operations. They told the Minister that policies, operational bottlenecks, and preferential treatment allegedly extended to foreign-linked entities by some terminal operators are tilting the competitive landscape against Nigerian businesses.
The operators warned that if left unaddressed, the situation could erode local capacity and destabilise Nigeria’s maritime logistics ecosystem.
NSC Given the Mandate
Responding to the allegations, Dr Oyetola reaffirmed the Federal Government’s commitment to protecting local investments and ensuring a level playing field in the maritime sector. He directed the NSC — in its capacity as port economic regulator — to conduct a thorough and impartial investigation into the claims.
The Minister was unequivocal: any anti-competitive behaviour or policy inconsistency that disadvantages Nigerian businesses would not be tolerated.
Engagement as Policy Tool
Dr Oyetola also used the occasion to underscore the importance of regular stakeholder engagement in driving effective sectoral governance. He noted that the government remains firmly focused on developing the marine and blue economy as a pillar of national growth, employment generation, and sustainable development.
Nigeria Watch
The allegations against terminal operators echo long-standing concerns in the Nigerian maritime industry about the marginalisation of indigenous players in port operations. Local barge operators form a critical link in Nigeria’s cargo evacuation chain — particularly at Apapa and Tin Can Island ports — and their displacement would deepen the country’s dependence on foreign logistics providers.
The NSC’s mandate as port economic regulator makes it the appropriate body to probe these claims. However, the effectiveness of the investigation will depend on the Council’s willingness to act on its findings — including, where necessary, imposing sanctions on terminal operators found to have violated fair competition principles.
For the Federal Ministry of Marine and Blue Economy, Thursday’s engagement signals a more assertive posture on indigenous content in maritime logistics — one that stakeholders will be watching closely.
Waterways News — Covering Nigeria’s Maritime, Shipping and Blue Economy Sector
Blue Economy
Tinubu Approves Cargo Tracking Scheme That Could Save Nigeria N900bn in Lost Import Revenue
Tinubu Approves Cargo Tracking Scheme That Could Save Nigeria N900bn in Lost Import Revenue
Presidential approval secured for ICTN as Nigerian Shippers’ Council begins procurement; scheme expected to go live before year-end
By Emetena Ikuku, Lagos
President Bola Ahmed Tinubu has approved the full implementation of the International Cargo Tracking Note (ICTN), a flagship initiative of the Nigerian Shippers’ Council (NSC) designed to plug revenue leakages in the country’s import trade and strengthen regulatory oversight of inbound cargo.
The approval, confirmed at a stakeholders’ engagement convened by the Federal Ministry of Marine and Blue Economy in Lagos, ends months of uncertainty over the scheme’s future and sets the stage for what industry analysts say could be one of the most consequential reforms in Nigeria’s maritime sector in recent years.
What the ICTN Does
The ICTN is a real-time, online cargo tracking system that monitors the movement of inbound shipments from origin to destination. Beyond logistics visibility, it is designed to function as an economic intelligence tool — capturing import data that can be used to close gaps in revenue declaration and combat under-invoicing.
Industry projections suggest the system could help Nigeria recover up to N900 billion annually in import revenue currently lost to leakages — a figure that underscores the commercial stakes of getting the rollout right.
Procurement Underway
Pius Akutah, Executive Secretary and CEO of the Nigerian Shippers’ Council, confirmed to stakeholders that presidential approval had been secured and that procurement processes were already in motion. He expressed confidence that the ICTN would become operational before the end of the year.
Akutah acknowledged that previous implementation attempts had been suspended due to unresolved operational challenges, but said the Council had drawn lessons from those setbacks.
He noted that the Minister of Marine and Blue Economy, Adegboyega Oyetola, is personally committed to ensuring a seamless rollout, with the ministry taking deliberate steps to resolve all outstanding issues before the scheme goes live.
Nigeria Watch
The ICTN revival is significant beyond its revenue implications. For years, Nigerian freight forwarders, cargo agents, and port operators have operated in an environment where cargo data is fragmented and often unreliable — creating fertile ground for manifest fraud, valuation disputes, and customs evasion.
A fully operational ICTN would give the NSC, the Nigeria Customs Service, and the Nigerian Ports Authority (NPA) access to a unified cargo data stream, potentially transforming how import risk is assessed at Apapa, Tin Can Island, and the emerging Lekki Deep Sea Port.
For the broader blue economy agenda being championed by Minister Oyetola, real-time cargo intelligence also supports Nigeria’s ambitions to position its ports as West Africa’s premier logistics hub — a goal that requires the kind of regulatory credibility the ICTN is designed to provide.
Stakeholders will be watching the procurement timeline closely. The scheme has been suspended before, and the maritime industry’s confidence in its delivery will depend on whether the ministry can demonstrate tangible progress before the year runs out.
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