For four decades, Starzs Investments Company Limited (SICL) has been at the forefront of Nigeria’s maritime industry, building a reputation for operational excellence, innovation and indigenous capacity development. Established in 1986 by Engr. Greg Ogbeifun, the company emerged at a time when local participation in offshore marine logistics was limited and has since grown into one of Nigeria’s leading maritime and offshore logistics providers.
At the heart of that journey is the vision of its Founder and Chairman, Engr. Greg Ogbeifun, whose entrepreneurial philosophy has always extended beyond vessels and contracts to the development of people, institutions and industries. Through resilience, strategic leadership and an unwavering belief in the potential of indigenous enterprise, he built more than a maritime company; he built an institution founded on integrity, excellence and value creation. Long before local content became a national imperative, he was championing indigenous participation, investing in talent and demonstrating that Nigerian-owned companies could compete successfully at the highest levels of the industry.
As SICL marks its 40th anniversary under the theme “Transforming Lives, 40 Years On”, Managing Director/CEO, Iroghama Ogbeifun, reflects on the company’s remarkable journey, the values that have sustained its growth across generations, and the opportunities emerging within Nigeria’s maritime and Blue Economy sectors. She speaks on leadership, innovation, succession, capacity development and why she believes the company’s success story remains rooted in its founder’s vision, sustained by its people, and strengthened by a relentless commitment to excellence.
Over the last decade, Starzs Investments Company Limited (SICL) has recorded significant fleet expansion, increasing from three vessels to 11 vessels, first under the leadership of Engineer Greg Ogbeifun and subsequently under your leadership, from five years ago. How has the organisation been able to record such monumental growth?
Starzs Investments Company Limited (SICL) is Nigeria’s foremost indigenous maritime and offshore logistics company, founded by my father and our Chairman, the visionary Engr. Greg Ogbeifun. The company was established on July 1, 1986, and is celebrating 40 years of operations this year. I must commend his vision, resilience, resourcefulness and remarkable impact on the maritime landscape. Indeed, Engr. Greg is an architect of enduring legacies.
Back to your question, the company has been able to achieve significant growth because the vision for the business has always been clear: to build an enduring, globally renowned frontline organisation that thrives on value creation for stakeholders in the maritime industry. To achieve this vision, we recognised the need to expand our asset base and strengthen our capacity to meet the evolving needs of our clients. Once the vision was clear, strategy and execution naturally followed.
Having identified our niche, which was to become a renowned offshore tug company in Nigeria, we deliberately focused on building our capacity; not just as a tug company, but as a specialist operator of Azimuth Stern Drive (ASD) vessels. At the same time, we invested heavily in human capacity development in line with our founder’s vision because we understood that people drive our assets, systems and processes.
As an organisation operating in the maritime space, we have built a strong foundation for developing the next generation of maritime leaders through training and capacity building. Seafarers are the lifeblood of the industry, but they will not remain in active service forever. That is why preparing the next generation is so important. We have a robust cadetship programme designed to ensure a continuous pipeline of properly trained and qualified maritime professionals. Today’s cadets will become tomorrow’s captains, chief engineers, technical specialists and industry leaders. We see capacity building not as an obligation, but as a responsibility, and it remains central to our vision of shaping future maritime leaders.
Innovation has also played a significant role in our growth journey. STARZS continues to embrace technology to improve efficiency, strengthen safety performance and enhance the way we operate. In an industry such as ours, safety is a critical priority, and technology has become an important enabler of safer and more effective operations.
Reputation is equally important. It is an intangible asset that drives trust and ultimately influences long-term business success. I can confidently say that STARZS has built a strong track record over four decades. Maintaining a leadership position in such a competitive industry is not something that happens by chance. It is the result of professionalism, consistency and operational excellence. We are proud that our long-standing clients continue to recognise and commend our commitment to these values.
The Anniversary Symposium is themed “Anchoring Resilience: 40 Years of Private Indigenous Initiative, Shaping Nigeria’s Maritime Future. What informed this high-sounding theme?
The theme is deeply reflective of who we are as an organisation and what this milestone represents. One thing that has always resonated with STARZS is our commitment to capacity development and our contribution to policy advocacy, policy development and implementation within the maritime industry.
Our Chairman, Engr. Greg, has been a strong voice and advocate for the growth and advancement of the maritime sector and for unlocking the immense potential of Nigeria’s Blue Economy. The development of the sector is something that is very close to his heart. Over the years, he has served on key presidential committees, pioneered industry initiatives, and played a leading role in championing indigenous participation within the maritime space. His passion has always been to see the Nigerian maritime sector grow, expand and take its rightful position as a leading maritime hub in Africa.
The theme,“Anchoring Resilience: 40 Years of Private Indigenous Initiative, Shaping Nigeria’s Maritime Future,” reflects that journey. It speaks to the resilience required to build and sustain an indigenous enterprise over four decades, while also recognising the role private sector operators have played in developing capacity, creating jobs and advancing the maritime industry.
The symposium itself is an opportunity to bring together key industry stakeholders to discuss not just the challenges facing the sector, but, more importantly, the opportunities that lie ahead. We are intentional about having the right people in the room. We will have shipowners, investors, regulators and policymakers, including the Honourable Minister of Marine and Blue Economy, His Excellency Adegboyega Oyetola; the Director-General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Dr. Dayo Mobereola; the Managing Director of the Nigerian Ports Authority (NPA), Dr. Abubakar Dantsoho; the Executive Secretary of the Shippers Council, Dr Pius Akutah ; as well as representatives of the Ministry of Finance and other critical stakeholders across the maritime value chain.
Discussions will also focus on issues such as fiscal incentives, investment opportunities, ease of doing business and the policy frameworks required to accelerate growth within the sector. Our expectation is that the symposium will generate meaningful conversations, practical recommendations and a communique that can contribute to shaping the future of Nigeria’s maritime and Blue Economy sectors.
While the event marks our 40th anniversary, it is equally an opportunity to look ahead—to explore how government and the private sector can work together to unlock greater value, build indigenous capacity and position Nigeria more competitively within the global maritime landscape.
Can you take us through the origins of the company, the journey over the past four decades, and the leadership qualities and values that enabled Engr. Ogbeifun to build such a successful and enduring enterprise?
The founder of the company, Engr. Greg, is a highly disciplined marine engineer trained by Shell. He is a man who upholds the highest standards of quality and service delivery, ensuring that the company consistently delivers on its promises. Excellence is one of his defining values because he does not get involved in projects, assignments or responsibilities unless he is confident they can be delivered successfully and to the highest standard. In fact, he is not satisfied with giving 100%; he always strives to give 150%.
Integrity is another core value of his, which he has passed down to us both individually and as a business, including myself as his daughter. His mantra is the time-tested truism that a good name is better than silver and gold, and he has demonstrated that principle at every point. As a result, his name has become synonymous with integrity, and he leads by example.
Over the last four decades, he has consistently demonstrated the qualities that have contributed to the growth of STARZS, including strategic vision, innovation, resilience and the ability to align business decisions with his core values of integrity, reputation, relationships and, of course, his faith in God, which has also become one of our corporate values.
We have built those values into who we are as an organisation, where we want to be, and how we operate. We hold weekly devotion sessions, so anyone who joins STARZS understands that they are joining a faith-based organisation. We are proud of that identity and do not shy away from it. We recognise that our success is anchored in God.
Today, STARZS has over 200 employees, and our Chairman remains deeply committed to human capacity development. He firmly believes in investing in people and has made it a core part of our organisation’s philosophy. By aligning these values with our business objectives, he has helped build a resilient corporate culture that has sustained the company for forty years and positioned it for the future.
You took over the affairs of this company from your father a few years ago. What would you say are the hallmarks of your experience so far?
I am grateful to have learned under the tutelage of a committed man of excellence. Becoming the Managing Director/CEO of STARZS did not happen overnight; I moved through the ranks. Before taking over the reins of leadership, I served as the Chairman’s second-in-command, first as Chief Operating Officer and later as Executive Director. I was privileged to work closely with him for seven years before he stepped aside as CEO.
That experience gave me the opportunity to learn directly from his leadership, understand his long-term vision for the business, and appreciate the culture he intentionally built around both the organisation and its people. It also allowed for a deliberate and structured transition, with him guiding me into my own leadership journey.
I became CEO five years ago, and it has been a very rewarding experience. The organisation viewed the transition as more than a change in leadership; it represented a shift to the next generation. As a result, we embraced a next-generation mindset, accelerating the adoption of technology and implementing an organisational transformation framework with clear strategic priorities and measurable goals.
We recognised that the business was no longer founder-led. While I am a member of the founding family, I am not the founder. Therefore, it was important to establish structures, systems and strategic priorities that would continue to deliver value to our stakeholders and sustain growth well into the future.
Participation in the Stanford SEED programme was also a pivotal part of our transformation journey. It influenced how we think about sustainability, governance, succession planning and long-term growth. We strengthened our board structure by introducing independent and non-executive directors, further reinforcing our commitment to strong corporate governance.
One of the most rewarding experiences has been seeing the next generation come into the organisation. We now have employees, interns and cadets joining STARZS whose parents work or once worked with us. That speaks to the enduring trust people have in the organisation and the legacy that has been built over the years.
We have experienced growth and stability under my leadership, with a strong focus on sustainability. The next phase of our journey is expansion; extending the STARZS footprint beyond Nigeria and establishing our presence across other African markets.
The founder has been a champion of indigenous participation in offshore marine logistics, which has increased significantly over the years. What factors have contributed to this growth, and what more do you think needs to be done to strengthen local capacity?
We have seen a lot in terms of advancement, including a boost in the rise of indigenous maritime companies, starting from when our Chairman led one of the first few companies to enter the offshore marine logistics space over 20 years ago. However, to further strengthen local capacity, maritime operators must have access to funding, as this has historically been one of the major challenges facing indigenous companies.
There are two key Acts that have largely driven the level of indigenous participation we see today. The first is the Cabotage Act, which is administered by NIMASA, and the second is the Nigerian Oil and Gas Industry Content Development (NOGICD) Act, which led to the establishment of the Nigerian Content Development and Monitoring Board (NCDMB). Both have played important roles in encouraging the growth of local content and indigenous participation.
From what I have observed, the Nigerian Content Act and the various programmes implemented by NCDMB, particularly the Nigerian Content Intervention Fund (NCIF), have been major catalysts for the growth of indigenous participation within the maritime sector. Many marine companies have benefited from these interventions and have been able to improve their capacity and competitiveness as a result.
Today, we are also seeing NIMASA move towards the disbursement of the Cabotage Vessel Financing Fund (CVFF), which will further support indigenous operators seeking access to affordable financing. Access to long-term, lower-cost capital is important, particularly in a capital-intensive sector such as shipping. However, beyond financing, opportunity is even more important.
Nigerian companies have grown tremendously in both competence and capacity over the years, and the oil companies have become increasingly confident in awarding contracts to indigenous operators that have demonstrated the ability to deliver. NCDMB has also played a critical role in ensuring that available Nigerian capacity is utilised first before foreign alternatives are considered. This has created a market that encourages local companies to invest, expand and build sustainable capacity.
That said, there are still several bottlenecks, which is one of the reasons we have organised the STARZS 40th Anniversary Symposium themed “Anchoring Resilience: 40 Years of Private Indigenous Initiative, Shaping Nigeria’s Maritime Future.”
While progress has been made, there are still policy and structural issues that continue to limit broader indigenous participation.
We must now begin to look beyond the oil and gas space, which has been the primary focus of many local content interventions. NCDMB has done an excellent job of preserving opportunities for Nigerian companies within the oil and gas sector, but there are still several areas of the maritime industry where indigenous participation remains limited.
If you look at crude lifting, cargo transportation and even general cargo logistics, there are very few Nigerian-owned vessels participating at a meaningful scale. The same applies to areas such as fish trawling, where indigenous ownership and participation remain relatively low despite the significant opportunities available.
There are still substantial opportunities across the wider shipping and maritime ecosystem for Nigerian companies to take advantage of. This is where NIMASA can continue to play a catalytic role by creating the right policy environment and enabling frameworks that encourage increased indigenous participation. There are also a number of policy-driven issues that government must address to ensure that Nigerian businesses can successfully access and compete within sectors that are still largely dominated by foreign-owned companies.
Ultimately, the goal should be to create an environment where indigenous companies are not only participating but thriving across the full spectrum of maritime activities. That is how we build sustainable local capacity and unlock the full potential of Nigeria’s maritime economy.
Access to finance is critical in ensuring fleet expansion for conglomerates. How are you able to access finance in a high-interest rate environment such as Nigeria’s?
We have been able to access funding through a combination of strong banking relationships and strategic partnerships. One of the local banks has been our banking partner for over three decades and has consistently supported our growth journey. Our two brand-new vessels, which were built with DAMEN Shipyards, were financed by this bank. The bank has remained a dependable banking partner whenever we have needed to expand our fleet.
We have also leveraged intervention programmes such as the Nigerian Content Intervention Fund (NCIF), which supported the acquisition of our latest vessel. In addition, the Bank of Industry (BoI) has been supportive, enabling us to access intervention funds that have contributed to our growth and expansion.
Beyond local financing, we have developed strategic partnerships with European partners who have also supported our fleet acquisition efforts. These partnerships have been instrumental in helping us build capacity and strengthen our position within the industry.
At the end of the day, our ability to access funding has been driven by credibility, strong relationships and a proven track record of performance. Financial institutions and partners are more willing to support businesses that have demonstrated consistency, reliability and the ability to deliver results over time.
How have foreign exchange volatility and the cost of vessel financing affected ship acquisition, fleet expansion, and operational sustainability in Nigeria?
I want to praise the current administration for the abolition of the discrepancy between the black-market rate and the CBN rate. Before the unification of the Naira, the gap between the official Central Bank of Nigeria (CBN) rate and the parallel market rate created significant challenges in sourcing foreign exchange for day-to-day operations, particularly for businesses operating in the maritime sector.
Shipping companies typically earn revenue in multiple currencies. In our case, we were paid in both USD and Naira, with the Naira portion often derived from a conversion of the dollar component. At the time, the International Oil Companies (IOCs) would convert at the prevailing CBN rate. When there was a discrepancy of, say, ₦400 or more between the official rate and the parallel market rate, it had a direct impact on our earnings because the eventual value realised was significantly lower. As a result, our revenues were substantially affected during that period of foreign exchange volatility.
At the same time, most of our operating expenses are denominated in US dollars. After receiving the Naira portion of our revenues, we still had to convert a significant amount back into dollars to purchase spare parts, carry out vessel maintenance, procure equipment and meet other operational obligations. This exposed operators like us to considerable foreign exchange risk.
The unification of the exchange rate has helped remove those artificial gaps and brought greater transparency to the market by allowing the Naira’s value to be determined more by market fundamentals. While businesses will always have to manage foreign exchange exposure, we have seen a much greater level of stability and predictability compared to what existed previously.
Today, that stability gives businesses more confidence to plan, manage costs and make longer-term investment decisions without being exposed to the level of uncertainty that characterised the earlier period.
Cabotage Vessel Finance Fund (CVFF) has been an issue over the years in the industry. What advice do you have for the government in its effort to make the funds available to shipowners?
The government has already taken a significant step by making the fund available earlier this year. As a member of the Board of NIMASA, I can say that the disbursement of the Cabotage Vessel Financing Fund (CVFF) has been one of the major priorities of the Honourable Minister of Marine and Blue Economy, His Excellency, Adegboyega Oyetola. One of his key objectives has been to ensure that the fund is finally made available to qualified indigenous shipowners. As part of that process, the CVFF application portal was launched earlier this year.
So far, about 70 applications have been received through the Cabotage Services Department within NIMASA, and 12 Primary Lending Institutions (PLIs) have been onboarded to participate in the scheme. About 20 per cent of applicants have successfully completed their applications and are currently undergoing the relevant processing by the PLIs.
I am optimistic that a number of companies will emerge as beneficiaries of the fund. The Minister has demonstrated a strong commitment to the process and has publicly stated that the necessary approvals have been obtained from Mr President to put the required structure in place for disbursement.
At this stage, the responsibility largely rests with the private sector to meet the credit and financing requirements of their respective Primary Lending Institutions and position themselves to access the fund.
For many years, the CVFF was seen as an aspiration that might never materialise. Today, we are much closer to seeing it become a reality. For that reason, I believe it is fair to say that, after decades of expectation, the long-standing CVFF jinx has finally been broken.
Offshore marine logistics is a highly specialised sector requiring reliability, safety, and operational excellence. How has Starzs positioned itself to compete with international operators in this space?
Positioning one’s business to be a global player requires shifting from a domestic mindset to an agile, international mindset. It demands deliberate market research, cultural adaptation of your brand and a strong digital infrastructure to navigate foreign markets. At STARZS, we are very intentional about this. We achieve it by focusing on the things I have spoken about earlier; professional excellence, human capacity development, safety and technology.
STARZS continues to evolve. Last month, I was in Athens, Greece, attending Posidonia, one of the largest maritime conferences in the world, which is held every two years. When I attend events like that, I am primarily looking for technologies that can improve the way we do things, enhance efficiency, strengthen safety and create greater value for our clients. It is also an opportunity to build new partnerships and stay abreast of global industry trends.
If you look at STARZS’ trajectory, you will see that although we are an indigenous Nigerian company, we have always operated with a global outlook. We are committed to proper maintenance, we do not cut corners, and, most importantly, we continue to invest in our people. Those principles have helped us build a business that can compete effectively while remaining grounded in the realities of our local operating environment.
Our local knowledge is, in fact, one of our greatest advantages. We understand the terrain, the regulatory environment and the specific needs of our clients. When that local insight is combined with international best practices, strong safety standards, continuous training and a commitment to excellence, it creates a compelling value proposition. More importantly, investing in and developing our people remains one of the most important ways we have positioned STARZS to compete successfully. The maritime industry is highly specialised, and the quality of your people will ultimately determine the quality of your service delivery.
The oil and gas industry depends heavily on marine support vessels for offshore operations. How has Starzs adapted its fleet and operations to meet the evolving needs of clients?
It has been a roller coaster for us as a company because of our reputation as an entity of integrity and reliability. Let’s take TotalEnergies for example. We have worked with this oil giant for over 16 years now and have built enduring business relationships. One of the things that STARZS is very good at is building and maintaining relationships within the industry.
We also have a very strong representative internationally who is able to match the requests from our clients with available assets around the world that can meet their needs. This enables STARZS to position itself more competitively.
I think being constantly in touch with our client base is essential. Attending industry fora where we can interact with both our clients and potential clients operating in the same space, as well as attending events to keep up with the direction of the industry, is extremely important.
We also focus on upcoming projects and try to anticipate their needs before they arise. For instance, what kind of equipment will be required and which of those services will STARZS be positioned to provide? We do not want to build capacity when the need comes; we strive to build capacity before the need arrives.
So, what investments has STARZS made in technology, safety systems and personnel development to improve efficiency and service delivery in offshore logistics?
As we all know, technology is revolutionising the maritime industry by driving sustainability and improving safety, and STARZS has embraced it. For instance, I will talk specifically about the STARZS safety app that we developed. We noticed that our crew were struggling to access and follow the company policies and safety procedures that guide their daily operations onboard. We therefore decided to provide a solution that would be right at their fingertips.
We developed an app called the STARZS Safe 40+ App, which is available to all our crew members on their mobile phones. Through the app, they can access all the safety management system policies, processes and procedures that guide their activities. They are also able to report safety observations, hazards, near misses and incidents directly through the platform. Everything they need is conveniently available to them, and because every crew member has a smartphone, they can interact with the system and report safety issues seamlessly.
We also use the app to recognise safety champions; employees with the highest levels of safety reporting during the week. Recognising them on the platform serves as both an incentive and a source of motivation for others to do better. It is one of the technologies we are particularly proud of.
We also invested in another software and digital hardware solution that was developed during the COVID-19 pandemic when human-to-human interaction was very limited and we could not easily provide physical support to offshore vessels.
This technology enabled us to remotely diagnose mechanical issues onboard our vessels and guide the crew on how to resolve them, even if only through temporary measures initially. More importantly, it helped us quickly identify the root cause of a problem and significantly reduce troubleshooting and repair times at that time. Those are some of the key innovations we have introduced. Of course, we also have CCTV systems installed on all our vessels.
Through these systems, we can monitor vessel activities in real time. Even during offshore safety drills, we are able to observe what is happening onboard from the office through the live CCTV feed and evaluate performance remotely. This has significantly enhanced oversight and strengthened our safety culture across the fleet.
How important is vessel availability and operational uptime in offshore logistics, and what measures does Starzs take to maintain world-class operational standards?
Vessel availability drives our revenue. If our vessels are not available, they cannot be utilised, and if they are not utilised, we cannot generate revenue. It is therefore a critical measure of operational performance and business sustainability.
We set clear targets for each of our assets at the beginning of every year, taking into account planned maintenance periods that are necessary to keep the vessels operating safely and efficiently. Those targets are then communicated across the organisation so that everyone understands the objectives and their role in achieving them.
We also ensure that the vision flows from top management throughout the organisation, giving employees a sense of ownership and responsibility. Our people understand that they have a direct role to play in helping us achieve our utilisation targets, and that level of commitment is extremely important to the success of our operations.
Utilisation is critical not only to the success of our business but also to its long-term sustainability.
Getting the employees’ commitment and ownership also drives accountability, where everyone recognises that they are accountable for their decisions and actions. Equally important is equipping them not just with the right tools, but also with the right knowledge. That is why we place a strong emphasis on human capacity development, ensuring our people have what it takes to drive vessel utilisation, maintain vessel availability and deliver value to our clients.
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Looking ahead, what opportunities do you see for growth in Nigeria’s offshore marine logistics market, particularly in deep-water exploration and production activities?
We are seeing increased adoption of technology within the industry, from security and cybersecurity solutions to autonomous shipping. Autonomous shipping is emerging strongly, and everyone is looking for more efficient, safer and cleaner ways of operating.
Those focus areas present significant opportunities because activity within Nigeria’s oil and gas industry will continue to expand. We are already seeing the first floating LNG project coming on stream. The question then becomes: what will be required to support that type of operation, which is the first of its kind in Nigeria and West Africa?
We are likely to see movement in areas that require us to stretch beyond our comfort zones; to think cleaner, operate more efficiently, embrace more technology and digital solutions, and place even greater emphasis on safety. That is where the opportunities lie.
Environmental stewardship is becoming increasingly important in offshore operations. As a company with over four decades of maritime experience, what differentiates Starzs from other indigenous marine logistics businesses?
After four decades in the maritime business, the defining difference is moving from knowing how to do the job to knowing exactly how to deliver value. This is what separates businesses that survive on “hustle” from those that build a lasting legacy.
STARZS has been around for forty years. Not only have we reached that milestone, but we have also successfully transitioned from one generation of leadership to another without any decline in business growth, performance or success. That in itself is a significant achievement.
STARZS, as a company, is committed to protecting the environment. It is one of our strategic priorities and key focus areas. While we are doing a lot from an onshore environmental perspective, we also have a tree-planting programme as STARZS.
We have also signed an MoU with a recycling company and donated recycling receptacles to selected communities in Rivers State, as well as waste receptacles, to help promote a stronger recycling culture. While we continue to drive these initiatives onshore, we are equally focused on ensuring that new assets being built align with our environmental objectives. The goal is to make our vessels more environmentally friendly and reduce carbon emissions over time.
We have built a sustained track record in the industry. We are ISO-certified and have about 20 years of sustained offshore experience. For us to have maintained our relationship with TotalEnergies, one of the largest IOCs in the world, for over 16 years, STARZS has had to remain a consistent partner and demonstrate an unwavering commitment to excellence.
That is what truly differentiates us. Beyond the assets and years of operation, we have built credibility, trust and a reputation for reliability. Those are qualities that can only be earned over time and sustained through consistent delivery.
You were recently appointed to the board of NIMASA. How do you contribute to policies that strengthen indigenous shipping, maritime capacity development and industry competitiveness?
On the Board of NIMASA, I serve as the Chairman of the Technical and Operations Committee. This gives me valuable insight into a number of activities within the agency and provides an opportunity to contribute my quota to the advancement of the sector. Since my appointment, one of the key areas of focus has been the Cabotage Vessel Financing Fund (CVFF).
In that capacity, I have also contributed to discussions around strengthening the ship registry, including facilitating engagements between Lloyd’s Register and the agency. As a globally recognised classification society, Lloyd’s Register can support efforts to strengthen the Nigerian ship registry, particularly as the ongoing digitalisation process continues.
I have also had the opportunity, thanks to the Director-General of NIMASA, Dr. Dayo Mobereola, to bring my experience to bear as the only maritime operator on the Board. This allows me to contribute practical industry perspectives from both the technical and customer-service sides of the business to various projects and initiatives being undertaken by the agency.
The objective is simply to find ways to improve processes, add value and contribute to the continued growth and development of the maritime sector.
How do you balance your responsibilities on the board of NIMASA and still carry out your responsibilities as the leader of one of Nigeria’s foremost indigenous maritime companies?
At STARZS, we have a very strong corporate governance structure in place. When I was appointed to the NIMASA Board, we immediately restructured by appointing a Deputy Managing Director, Mr Adeniyi Adeyi, because I now have to wear two hats; one at STARZS and the other at NIMASA. Mr Adeyi, as my deputy, has helped create the capacity and focus required for me to effectively discharge my responsibilities in both roles.
It is important to note that my role at NIMASA is non-executive; I am not involved in the day-to-day running of the agency. I participate at Board level, where management engages the Board on matters requiring oversight, guidance and technical input. As the only maritime operator on the Board, I am able to contribute practical industry experience where relevant.
Therefore, my role at NIMASA does not detract from my primary responsibilities at STARZS. However, having a Deputy Managing Director in place, supported by a strong governance structure and management team, has made the lines of responsibility much clearer and enabled me to effectively serve both as a Board Member of NIMASA and as MD/CEO of STARZS.
As Managing Director/CEO of Starzs Investment Company, what’s your vision for expanding the company’s offshore marine logistics footprint over the next decade?
Well, the goals are clear: to scale our maritime enterprise over the next few years, with a focus on digital integration, the green energy transition and capturing greater domestic capacity. Over the next decade, I want to see STARZS operating in different countries across Africa. Our goal is to become a truly pan-African company, and that remains our growth strategy for the next decade.
We are already working deliberately towards that objective. We have opened the STARZS Liberia office, where we are exploring opportunities in port logistics services. We also have opportunities in Namibia through a local partnership focused on offshore marine vessel provision.
We have embraced these opportunities and are positioning ourselves to take advantage of them. The objective is not simply expansion for expansion’s sake, but sustainable growth built on the same values and standards that have defined STARZS over the last forty years.
We are confident that by harnessing these opportunities and remaining focused on operational excellence, innovation and people development, STARZS will successfully establish itself as a pan-African maritime company within the next decade. That is the direction of our growth journey and the future we are working towards.
How have you impacted your host communities as a company?
STARZS has always sought to make a positive impact as a responsible corporate citizen by addressing social issues, supporting community development and investing in the next generation through education, skills development and social infrastructure. We recognise that our operations are carried out within these communities and, as such, we have worked deliberately to build strong relationships and lasting partnerships with them over the years.
Part of what we are launching this year as our Corporate Social Responsibility (CSR) initiative is the 40 for 40 Skills Acquisition Programme, through which we will train 40 people drawn from our four host communities (Onne, Ogu, Rumuadaolu, Bonny) in skills relevant to the oil and gas and maritime industries. For us, this initiative is about more than just training; it is about creating opportunities, building capacity and empowering individuals with skills that can improve livelihoods and open doors to sustainable careers.
We are also continuing our scholarship programme. Under this scheme, STARZS sponsors indigenes from these communities to attend the Maritime Academy, and those who perform exceptionally well are given automatic placements onboard our vessels as cadets. We see this as part of our commitment to nurturing the next generation of maritime professionals and creating pathways for young people to participate meaningfully in the industry.
Beyond scholarships, we have made significant investments in education within our host communities. We have renovated schools, upgraded classroom blocks and provided desks and writing boards to create a more conducive learning environment for students. In one of the schools, we installed a solar-powered borehole after discovering that the toilet facilities had been abandoned due to a lack of water. We subsequently rehabilitated the toilets and restored access to water, making the facilities functional once again.
As part of our 40th anniversary activities, we will also be distributing over 3,000 educational materials across schools within the communities we serve, further reinforcing our commitment to education and youth development.
Environmental sustainability is another area where we continue to make a contribution. We are carrying out environmental clean-up and recycling initiatives, including the placement of recycling and waste receptacles within selected communities to encourage proper waste management and strengthen the recycling culture.
Ultimately, we believe that our success is closely linked to the well-being of the communities in which we operate. These initiatives reflect our commitment to creating shared value and ensuring that our impact extends beyond our business operations. They are some of the ways we continue to give back to the communities that have supported our journey over the last
