The Minister of Marine and Blue Economy, Adegboyega Oyetola, has announced President Bola Tinubu’s approval for Nigeria to host the long-awaited Regional Maritime Development Bank (RMDB) and appointed Mr. Adeniran Aderogba as its first President/CEO.
According to a statement by the Minister’s Media and Communications Adviser, Bolaji Akinola on Thursday, this move ends a 16-year delay since member states of the Maritime Organization of West and Central Africa (MOWCA) agreed to establish the bank in 2009.
“This is a moment of great significance for Nigeria and the entire West and Central African sub-region,” Oyetola said. “After 16 years of waiting, the Regional Maritime Development Bank is finally taking off, thanks to the decisive leadership of President Bola Ahmed Tinubu.”
The RMDB is designed to provide long-term financing for port infrastructure, fleet acquisition, shipping logistics, and intermodal transport systems — in line with the administration’s Renewed Hope Agenda.
Aderogba, a former Executive Director of Finance and Acting Director-General at NIMASA, brings over three decades of maritime administration and financial services experience. He has also held senior banking roles and led major financial transactions exceeding US$5 billion.
The Minister described Aderogba’s appointment as “a bold and competent choice that will steer the bank from conception to impact.”
