Nigeria and China deepen marine economy cooperation with $2bn investment deal focused on ports, aquaculture exports, and maritime job creation
Nigeria China deepen marine economy cooperation as both countries commit to boosting port development and expanding markets for Nigerian aquaculture exports.
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At a key meeting in Abuja, Nigeria’s Minister of Marine and Blue Economy, Adegboyega Oyetola, and Chinese Ambassador Yu Dunhai discussed strengthening ties in maritime infrastructure, fisheries, renewable ocean energy, and coastal development.
Oyetola highlighted Nigeria’s 853-kilometer Atlantic coastline and extensive inland waterways as rich marine assets ripe for development.
“We believe Nigeria has a lot to learn from China’s marine and blue economy model,” said Oyetola.
Ambassador Yu praised Nigeria’s maritime strengths and referenced the Lekki Deep Seaport—constructed by China Harbour Engineering Company—as a hallmark of Sino-Nigerian cooperation.
The port handles ultra-large container vessels, creating jobs and boosting Nigeria’s trade profile in West and Central Africa.
The Chinese Ambassador also revealed an upcoming agreement to facilitate Nigerian aquaculture exports to China, with zero tariffs already approved, promising new opportunities for local producers and strengthened food trade ties.
Further solidifying cooperation, Nigeria and China signed a $2 billion maritime investment deal aimed at accelerating indigenous vessel ownership and transforming Nigeria into a regional maritime hub.
The deal includes:
- $2bn in vessel investments
- $20bn in freight contracts for Nigerian operators
- $200m for maritime training
- $50m for training vessels
This initiative is expected to create over 2,000 new maritime jobs annually and train 25,000 globally certified Nigerian seafarers, nurturing a robust local shipping industry.
Both parties reaffirmed their commitment to leveraging their strong bilateral relations to unlock Nigeria’s marine economy potential.
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“With China’s cooperation, we are confident of unlocking tremendous opportunities for the benefit of our people,” Oyetola concluded.
