Caverton Marine Limited has entered into a shipbuilding agreement with Dockyard Limited, marking a key milestone in the development of Nigeria’s marine infrastructure.
The signing ceremony, held at the Naval Dockyard in Lagos on Tuesday, highlights Caverton Marine’s commitment to boosting local vessel production, including GRP ferries, security boats, fishing vessels, and leisure crafts.
Speaking at the ceremony, Rear Admiral Abolaji Oreder, the Admiral Superintendent of Naval Dockyard, praised the collaboration between Caverton Marine and Naval Dockyard.
He stated that the collaboration, which has been a priority for the past year, received approval from the Chief of Naval Staff, Vice Admiral Emmanuel Ogalla, as well as the Board of Directors, who recognized the potential of Caverton Marine’s partnership with Naval Dockyard Limited.
He said, “We are happy that this is happening under our watch. This is very historic transformative, a landmark development in the history of Naval Dockyard because we believe in the capability and capacity of Caverton Marine as a company of high repute that can deliver.
“All over the world today, there are three things that companies prioritize if you want to move your entity forward. I call it three Cs: Collaboration, cooperation, and coordination, which if combined together, it will give significant results that can’t be achieved as a single entity.
“And that is why you see companies merging, partnering, and cooperating because when you come together you are stronger.
“That is what we are witnessing today. Caverton Marine will join us in the yard where they will operate in the GRP workshop and I believe the collaboration is going to change the face of what we are doing here. We have been concentrating on building steel ships and Caverton Marine is on the building of Glass Reinforced Plastics GRP. And I want to believe that this partnership will enable us to do bigger things in our various phases.
“I see lots of potential coming up from this agreement signing today and we are very hopeful that it will be very beneficial to all the stakeholders, the Caverton Group, the Naval Dockyard Limited and of course, the Nigerian Navy and indeed our nation. In this era of Marine and Blue Economy, this is a major milestone and I believe this is just the beginning of great things.”
In his address, the Chief Executive Officer of Caverton Offshore Support Group, Olabode Makanjuola, said, “Today marks a significant milestone as we celebrate the signing of a concession agreement between Caverton Marine Limited and Naval Dockyard Limited for the development of the dockyard GRP Warehouses. I want to take a moment to acknowledge the remarkable contributions of the Naval Dockyard, Nigeria’s foremost shipbuilding and repair yard, and a hub of Nacala engineering.
“Your tireless dedication to promoting and developing shipbuilding design and maintenance in Nigeria and across Sub-Saharan Africa is commendable and reflects a shared vision for the future of our maritime industry.
“This partnership underscores Caverton Marine’s commitment to enhancing local production capabilities for high-quality vessels, including GRP ferries, security boats, fishing vessels, and leisure crafts. Our collaboration with the Naval Dockyard aims to revitalize the GRP manufacturing capacity, transforming it into a world-class facility that embraces innovative manufacturing processes and fosters capacity development and training for our workforce.”
Makanjuola emphasized that the landmark agreement focuses on the management, overhaul, and leasing of the GRP Warehouse. He described the initiative as a major step forward for Nigeria’s marine infrastructure and a key element of the company’s growth strategy.
“The GRP Warehouse will not only enable us to fulfill large-scale boat-building contracts but also allow us to penetrate new markets across Sub-Saharan Africa and establish strategic partnerships that will elevate our operations. This endeavor highlights the crucial role of private sector collaboration with the Naval Dockyard in advancing Nigeria’s maritime sector and enhancing our blue economy,” the Caverton Offshore Support Group boss added.
Also present at the event were the Chief Operating Officer, Mr. Rotimi Makanjuola; Director and Company Secretary
Mr. Mina Oforiokuma; Barr. Amaka Obiora, all of Caverton Offshore Support Group (COSG); Admiral Superintendent of Naval Dockyard, Abolaji Orederu; Managing Director/Accountable Manager of Caverton Helicopters, Captain Ibrahim Bello; Chief Finance Officer, Mr. Adeola Adedeji; Mr. Ayo Omueti, and other distinguished guests.
