President Bola Tinubu has approved the long-awaited establishment of the Regional Maritime Development Bank (RMDB), ending a 16-year delay. He also appointed Mr. Adeniran Aderogba as the bank's first President and CEO.
The Minister of Marine and Blue Economy, Adegboyega Oyetola, announced the move in Abuja, calling it a historic milestone for Nigeria and the West and Central African region.
"After 16 years of delay, the RMDB is finally taking off under President Tinubu's decisive leadership," Oyetola said.
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Initially approved in 2009 by the Maritime Organization of West and Central Africa, the bank aims to finance port infrastructure, fleet acquisition, shipping logistics, and intermodal transport, aligning with Tinubu's Renewed Hope Agenda.
Aderogba, a maritime expert with over 30 years of experience, previously served as Acting Director General at NIMASA and held top roles in the banking sector. He is also a Fellow of the Institute of Chartered Accountants of Nigeria.
"This bank will unlock funding for critical maritime projects and boost trade across the sub-region," Oyetola added.
