Ahead Of CVFF Disbursement, NNPC Shipping, Caverton Offshore, Stena Bulk Launch “Unity Shipping World”

The Nigerian National Petroleum Corporation (NNPC), in conjunction with Caverton Offshore Support Group and Stena Bulk, has pooled resources to launch what is called Unity Shipping World (USW).

The deal, according to the partners, promises to reinvigorate Nigeria’s shipping prowess on the global stage, aligning with the government’s vision of a thriving, profitable oil sector.

DAILYFOCUS NIGERIA gathered that Unity Shipping World (USW) is a bold initiative aimed at strengthening indigenous capacity in Nigeria’s maritime sector.

It was gathered that the Minister of Marine and Blue Economy, Adegboyega Oyetola, recently received the executive leadership of NNPC Shipping, Stena Bulk, and Caverton Offshore Support Group. The visit followed the launch of their joint venture.

According to the Minister during the visit, the joint venture is a welcome development that aligns squarely with the Ministry’s vision to deepen Nigerian participation in shipping, reduce dependence on foreign vessels, and position the country as a dominant maritime force in Africa and globally.

Reaffirming his stance on local content development, Oyetola declared that the era of indiscriminate cabotage waivers is coming to an end. “These waivers have, for too long, limited the growth of Nigerian operators. That era is ending,” he said.

The Minister also emphasized the administration’s readiness to fast-track the disbursement of the Cabotage Vessel Financing Fund (CVFF)-a critical financial tool to enable Nigerian shipowners to acquire vessels and expand operations.

He further noted that the Ministry is laying the groundwork for a national shipping line through a Public-Private Partnership (PPP) model, describing it as a vital step toward securing Nigeria’s place in global maritime logistics.

“Our waters must serve Nigerian interests,” Oyetola stated. “We are committed to building Nigerian ships, training Nigerian seafarers, and creating sustainable jobs across the industry,” the Minister was quoted.