The Nigerian Maritime Administration and Safety Agency (NIMASA) has signed a 2026 Sectoral Performance Bond in demonstration of its commitment to accountability, improved performance, and sustained growth in the maritime sector.
Speaking on the signing of the bond during a Retreat in Lagos, which was supervised by the Minister of Marine and Blue Economy, Dr. Adegboyega Oyetola, the Director-General of the agency, Dr. Dayo Mobereola, described the bond as a governance instrument designed to track deliverables, strengthening institutional accountability, and aligning the agency’s operations with national priorities.
According to him, the agency’s ongoing reforms are driven by purposeful leadership aimed at delivering its mandate in line with the Renewed Hope Agenda of the present administration.
The industry expert explained that based on the NIMASA management’s commitment to security in the maritime sector through enhanced surveillance systems and improved inter-agency collaboration., Nigeria had recorded zero piracy incidents in its territorial waters over the past four years.
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Mobereola hinted that the agency had reached an advanced stage of automating its ship registry processes with a view to improving efficiency, reducing delays, and boosting Nigeria’s competitiveness in global maritime business.
Giving an update on the Cabotage Vessel Financing Fund (CVFF), he clarified that more than 60 applications had been received since the portal was launched in January 2026, promising that the disbursement process will be transparent and strictly monitored.
The NIMASA boss also disclosed that Nigeria had deposited three conventions with the International Maritime Organization (IMO) just as three others are awaiting Federal Executive Council’s (FEC’s) approval, underscoring the country’s commitment to international maritime standards.
Mobereola also maintained the the election of Nigeria into category C at the IMO Council in November 2025 had improved the country’s recognition in the global maritime governance system and strengthening its leadership role in Africa.
In his keynote address at the event, the minister reiterated the government’s commitment to leveraging the opportunities in the maritime sector to drive its ongoing economic diversification, job creation, foreign exchange earnings and other economic benefits to the country.
Oyetola stressed that the Performance Bonds represented binding commitments of the NIMASA’s management that will be closely monitored, pointing out that “accountability is not optional” for the agency and other relevant agencies in the nation’s marine sector.
