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By Steve Agbota
SIFAX Marine Services Limited has concluded plans to invest in its own marine fleet as part of its 2026 growth strategy, aimed at repositioning the company as a stronger contender in Nigeria’s offshore oil and gas marine services market, which foreign operators largely dominate.
Afolabi Olayinka, Executive Director of SIFAX Marine, stated that the asset-led growth strategy represents a decisive shift from revenue growth driven primarily by rate increases to a more sustainable and scalable model built on vessel ownership and fleet expansion.
Olayinka, in a statement by the Head, Corporate Communications, SIFAX Group, Olumuyiwa Akande, explained that while rate adjustments supported revenue performance in the last financial year, the future of SIFAX Marine lies in building a strong owned fleet that gives the company capacity, resilience and long-term competitive advantage.
“Our experience over the past year has made one thing very clear, sustainable and exponential growth will only come from deliberate investment in marine assets that we own and control,” he said.
Olayinka said the company plans to acquire additional sea-going barges, creek vessels and offshore support vessels.
According to him, these assets are expected to significantly boost operational capacity, deepen market reach and unlock higher-value contracts, particularly within the oil and gas sector.
He said by expanding its owned fleet, SIFAX Marine aims to retain more value within the business while offering clients greater consistency, responsiveness and certainty in service delivery.
He added that a central pillar of the 2026 strategy is increased participation in oil and gas projects, noting that the company plans to acquire vessel types required for higher regulatory categorisations, enabling it to access more opportunities on industry tender platforms and improve its prequalification prospects with major operators.
“Asset expansion is not just about growth, it is about readiness. Our focus is to ensure that SIFAX Marine is properly equipped to respond swiftly to market demand, especially in offshore support and oil and gas marine services where capacity, compliance and reliability are critical,” he explained.
He explained that this regulatory readiness drive is expected to position the company for technically demanding and higher-margin offshore contracts that have traditionally been out of reach for operators without sufficient owned assets and compliance credentials.
He said that beyond vessel acquisition, the company is also exploring strategic partnerships and joint ventures to accelerate market entry and scale operations faster.
He further added that the company is considering expansion into vessel management and other complementary services that support offshore operations, further strengthening its value proposition as a full-spectrum marine services provider.
