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Caverton Marine Limited yesterday announced the signing of a landmark concession agreement with Naval Dockyard Limited dwelling on the management, overhaul, and leasing of the boat building GRP (Glass Reinforced Plastic) Warehouse. The signing ceremony, which held at the Naval Dockyard, Victoria lsland, Lagos on Tuesday, December 10, 2024, marked a significant advancement in the development of Nigeria’s marine infrastructure. Welcome to NDL: Admiral Superintendent Naval Dockyard, Rear Admiral Abolaji Orederu welcoming Caverton delegates.
With him were Chief Executive Officer, Caverton Offshore Support Group (COSG), Mr. Olabode Makanjuola, Director at Caverton, Mr. Mina Oforiokuma and Chief Operating Officer (COSG), Mr.
Rotimi Makanjuola when Caverton Marine Limited led by its CEO visited the courtyard to Sign Concession Agreement with Naval Dockyard Limited for Glass Reinforced Plastics (GRP) Boatbuilding Warehouse Development held at Naval Dockyard, Victoria lsland, Lagos on Tuesday December 10th, 2024 The pivotal agreement underscores the dedication of Caverton Marine, a subsidiary of the Caverton Group, to enhancing local production capabilities for high-quality vessels, including GRP ferries, security boats, fishing vessels, and leisure crafts. Speaking at ceremony, Admiral Superintendent of Naval Dockyard, Rear Admiral Abolaji Orederu praised the collaboration between Caverton Marine and Naval Dockyard Limited (NDL). According to him, the collaboration has been on the front burner for the past one year, leading to the approval by the Chief of Naval Staff, Vice Admiral Emmanuel Ikechukwu Ogalla and that of the Board of Director having seen the potential of Caverton Marine’s partnership with Naval Dockyard Limited.
Caverton delegates with Naval Dockyard Limited personnel during the signing agreement ceremony “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 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 company merging, partnering and cooperating together 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 thing in our various phases.
I see lots of potentials 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 remarks, Chief Executive Officer of Caverton Offshore Support Group, Mr.
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 ship building 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.” While stating that the landmark agreement focuses on the management, overhaul, and leasing of the GRP Warehouse, Makanjuola said the initiative marks a significant advancement in Nigeria’s marine infrastructure and serves as a cornerstone 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 epoch event were Mr.
Rotimi Makanjuola, Chief Operating Officer; Mr. Mina Oforiokuma, a director and company secretary, Barr. Amaka Obiora, all of Caverton Offshore Support Group (COSG) and Admiral Superintendent Naval Dockyard, Abolaji Orederu, Managing Director/Accountable Manager, Caverton Helicopters, Captain Ibrahim Bello, Chief Finance Officer, Mr.
Adeola Adedeji, Mr. Ayo Omueti amongst other dignitaries. The GRP Warehouse will serve as a cornerstone of Caverton Marine’s growth strategy, enabling the company to fulfil large-scale boat-building contracts, penetrate new markets across Sub-Saharan Africa, and establish strategic partnerships.
This initiative highlights the crucial role of private sector collaboration with the Naval Dockyard in advancing Nigeria’s maritime sector and blue economy. Renowned to provide safe water transportation that will significantly reduce environmental hazards, Caverton Marine has demonstrated its commitment leading the way in water transport safety and expanding connectivity across Nigeria’s waterways. Early this year, it delivered the aptly named OMIBUS 40-passengers ferries to Lagos State government and is presently developing an electric version of the ferry as well as a security vessel prototype and other vessel types.
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