Nigerian logistics tycoon Taiwo Afolabi’s SIFAX Marine, a unit of SIFAX Group, has announced plans to acquire additional offshore support vessels to boost capacity and respond to growing demand in the oil and gas sector.
This move follows the recent milestone achieved by Nigerian billionaire Muhammadu Indimi, who marked a significant investment in the country’s oil sector with a $315 million offshore vessel.
SIFAX Marine’s expansion reflects a strategic investment in local capacity, with plans to add sea-going barges, creek vessels, and offshore support ships to meet market needs, secure larger contracts, and provide clients with consistent and reliable service.
Afolabi Olayinka, executive director of SIFAX Marine, emphasized that growth will now focus on fleet ownership rather than rate increases alone.
The company has been expanding its presence across aviation, logistics, hospitality, and oil and gas industries, operating in Ghana, South Africa, the US, Belgium, and the UK.
SIFAX Group is also creating new projects in Equatorial Guinea and Djibouti, and actively seeking partnerships and joint ventures to expedite growth.
In August 2025, SIFAX signed a contract with Micura Services Limited to improve operations at the Tin Can Island Port terminal in Lagos.
The group has also started a direct Less-than-Container Load (LCL) export service to the UK in partnership with Netcargo UK Limited.
