President Bola Tinubu has approved the long-awaited establishment of the Regional Maritime Development Bank (RMDB), ending a sixteen-year delay. He also appointed Mr. Adeniran Aderogba as the bank’s inaugural Chief Executive Officer.
The development was announced on Thursday in Abuja by the Minister of Marine and Blue Economy, Adegboyega Oyetola, who described the move as a landmark achievement for the maritime sector.
Minister of Marine and Blue Economy, Adegboyega Oyetola, stated that the Regional Maritime Development Bank (RMDB) will function as a specialized financial institution aimed at bolstering port infrastructure, vessel procurement, shipping logistics, and integrated transport networks.
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He emphasized that the RMDB is in line with President Bola Tinubu’s Renewed Hope Agenda, which prioritizes infrastructure development and regional collaboration.
“This is a moment of great significance for Nigeria and the entire West and Central African sub-region.
“After 16 years of waiting, the Regional Maritime Development Bank is finally taking off, thanks to the decisive leadership of President Bola Ahmed Tinubu,” Oyetola said.
The RMDB was initially approved in 2009 by the Maritime Organisation of West and Central Africa (MOWCA) member states but had faced repeated delays until now.
At the helm of the new bank is Mr. Adeniran Aderogba, a seasoned expert with more than three decades of experience in maritime administration, finance, and investment.
, ending a sixteen-year delay. He also appointed Mr. Adeniran Aderogba as the bank’s inaugural Chief Executive Officer.){kind=link}