The Minister of Marine and Blue Economy, Adegboyega Oyetola, has announced a historic breakthrough in regional maritime finance: President Bola Ahmed Tinubu has approved Nigeria as the host country for the long-awaited Regional Maritime Development Bank (RMDB) and has appointed Mr. Adeniran Aderogba as the Bank’s first President and Chief Executive Officer.
This development, unveiled in a press statement by the Minister’s Adviser on Media and Communications, Bolaji Akinola, brings to fruition a project that was first conceived in 2009 by member states of the Maritime Organization of West and Central Africa (MOWCA).
“This is a moment of great significance for Nigeria and the entire West and Central African sub-region,” Oyetola stated, adding that the bank’s launch was made possible by the “decisive leadership” of President Tinubu.
He emphasized that the President’s approval has not only ended a 16-year deadlock but also reaffirms Nigeria’s leadership in maritime development, regional integration, and economic cooperation.
The Regional Maritime Development Bank is envisioned as a specialized financial institution tasked with providing long-term funding solutions for:
- Port infrastructure development
- Fleet acquisition
- Shipping and logistics
- Intermodal transport systems
It aims to bridge financing gaps in the maritime sector and foster economic growth across West and Central Africa.
Mr. Aderogba brings over 30 years of strategic leadership experience in maritime administration, finance, and public sector investment. He previously served as Executive Director, Finance and Administration at the Nigerian Maritime Administration and Safety Agency (NIMASA), and later as Acting Director General of the agency.
