President Bola Tinubu has greenlighted the establishment of the Regional Maritime Development Bank (RMDB) and appointed Mr. Adeniran Aderogba as its inaugural President and Chief Executive Officer.
Minister of Marine and Blue Economy, Adegboyega Oyetola, announced this landmark decision in Abuja on Thursday, hailing it as a historic breakthrough after a 16-year delay.
Oyetola emphasized the significance of this development, stating, “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.”
The RMDB was initially approved in 2009 by member states of the Maritime Organization of West and Central Africa (MOWCA) but had been stalled until now.
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Oyetola noted that the bank’s core function will be to serve as a financial institution dedicated to providing long-term funding solutions for port infrastructure, fleet acquisition, shipping logistics, and intermodal transport systems.
He added that the RMDB aligns perfectly with President Tinubu’s Renewed Hope Agenda, which prioritizes infrastructure growth and regional partnerships.
Aderogba, who will lead the new bank, brings over three decades of extensive experience in maritime administration, finance, and investment.
The minister praised his appointment as “a bold and competent choice that will steer the bank from conception to impact.”
Aderogba’s distinguished career includes serving as Executive Director, Finance and Administration, and later Acting Director General, at the Nigerian Maritime Administration and Safety Agency (NIMASA).
In the banking sector, he held senior leadership roles at First Atlantic Bank Plc and MBC International Bank Ltd, where he specialized in investment banking and trade finance.
A graduate of the University of Lagos and a Fellow of the Institute of Chartered Accountants of Nigeria, Aderogba also serves on the advisory board of the Commonwealth Enterprise and Investment Council.
Oyetola underscored that Aderogba’s appointment and the operationalization of the RMDB are expected to “catalyze development, boost trade, and unlock funding for critical maritime infrastructure.”
He concluded by calling this achievement “yet another testament to President Tinubu’s unwavering resolve to deliver on long-standing commitments and drive transformative change across the region.”
The Ministry confirmed that Aderogba’s appointment was formally communicated through the office of the Director of Maritime Safety and Security, Mr. Babatunde Bombata.
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