SIFAX Marine Services Limited has announced a far-reaching expansion strategy for 2026 aimed at driving asset-led growth and repositioning the company as a stronger player in Nigeria’s offshore and oil and gas marine services market.
The Executive Director of SIFAX Marine, Mr. Afolabi Olayinka, said the new strategy represents a deliberate shift from revenue growth driven largely by rate increases to a more sustainable and scalable business model anchored on vessel ownership and fleet expansion.
According to him, recent operational experience has reinforced the need for long-term investment in owned marine assets to achieve sustained growth and competitiveness.
“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,” Olayinka said. “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 us capacity, resilience, and long-term competitive advantage.”
To implement the strategy, SIFAX Marine plans to acquire additional sea-going barges, creek vessels and offshore support vessels. The planned acquisitions are expected to significantly expand operational capacity, deepen market penetration and unlock access to higher-value contracts, particularly within the oil and gas sector.
The company said the expansion of its owned fleet would enable it to retain more value within the business while offering clients improved consistency, responsiveness and certainty in service delivery.
A key pillar of the 2026 expansion plan is increased participation in oil and gas projects. SIFAX Marine intends to acquire vessel types that meet higher regulatory classifications, a move expected to improve its eligibility for industry tenders and strengthen prequalification prospects with major oil and gas operators.
“Asset expansion is not just about growth; it is about readiness,” Olayinka explained. “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.”
The regulatory readiness initiative is expected to position the company for technically demanding and higher-margin offshore contracts that have traditionally been beyond the reach of operators without sufficient owned assets and compliance credentials.
Beyond fleet acquisition, SIFAX Marine disclosed that it is exploring strategic partnerships and joint ventures to accelerate market entry and scale operations more rapidly. The company is also considering expansion into vessel management and other complementary services that support offshore operations, further strengthening its positioning as a full-spectrum marine services provider.
