Esther Oritse
Lagos —
The Minister of Marine and Blue Economy, Adegboyega Oyetola, has stated that President Bola Ahmed Tinubu, GCFR, has approved Nigeria’s hosting of the much-anticipated Regional Maritime Development Bank (RMDB). Additionally, he has named a Nigerian citizen, Mr. Adeniran Aderogba, as the bank’s inaugural president and CEO.
This approval signifies the landmark launch of the bank, which was initially endorsed by MOWCA member states back in 2009. After years of delays in getting the organization up and running, President Tinubu has finally overcome this significant hurdle, providing essential support to the region’s maritime industry.
"This is a highly significant moment for Nigeria and the whole of Western and Central Africa," stated the Minister.
After 16 years of anticipation, the Regional Maritime Development Bank is now set to launch, largely due to the resolute guidance of President Bola Ahmed Tinubu. His endorsement has not only resolved an enduring impasse but also underscored Nigeria’s dedication to regional unification, maritime progress, and economic collaboration.
Envisioned as a specialized financial entity, the Regional Maritime Development Bank aims to offer extended financing options for port facilities, ship procurement, maritime logistics, and multi-modal transportation networks. This key project aligns with President Tinubu’s Renewed Hope Agenda, focusing on enhancing infrastructure, fostering broad-based economic expansion, and strengthening regional collaboration.
The Minister stated that Mr. Aderogba possesses more than thirty years of extensive expertise in maritime management, financial matters, and investments.
“His appointment is a bold and competent choice that will steer the bank from conception to impact,” he said.
Mr. Aderogba’s extensive career spans the public and private sectors. He previously served as Executive Director, Finance and Administration at the Nigerian Maritime Administration and Safety Agency (NIMASA) and was later appointed Acting Director General of the agency. In the financial sector, he held senior leadership roles at First Atlantic Bank Plc and MBC International Bank Ltd, where he oversaw investment banking and structured trade finance.
He founded CLG Securities Limited, an organization offering financial advice and investment services. Throughout his professional journey, he has overseen deals totaling more than $5 billion, encompassing significant international transactions acknowledged for their importance. Initially, Mr. Aderogba launched his career at KPMG, where he honed his skills in audit and finance consultancy.
A respected thought leader in financial markets, Aderogba has contributed significantly to Nigeria’s financial infrastructure, helping to introduce critical instruments such as the Nigerian Inter-Bank Offered Rate (NIBOR) and the Nigerian Foreign Exchange Fixing (NiFEX).
He is an ICAN fellow, having graduated from the University of Lagos, and he presently sits on the advisory board of the Commonwealth Enterprise and Investment Council.
“The appointment of Aderogba and the operationalization of the RMDB will catalyze development, boost trade, and unlock funding for critical maritime infrastructure,” the Minister stated.
“This achievement is yet another testament to President Tinubu’s unwavering resolve to deliver on long-standing commitments and drive transformative change across the region.”
The communication regarding Aderogba’s appointment has been officially conveyed to him via the office of Mr. Babatunde Bombata, who serves as the Director of Maritime Safety and Security.
As Nigeria takes center stage as the home country and an experienced leader leads the way, the Regional Maritime Development Bank is all set to emerge as a robust catalyst for economic expansion, integration, and success across the region.
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