SIFAX Marine Services Limited has unveiled an ambitious expansion strategy for 2026 aimed at driving asset-led growth and strengthening its position in Nigeria’s offshore and oil and gas marine services market.
The company said the new strategy represents a shift from revenue growth driven largely by rate increases to a more sustainable and scalable model anchored on vessel ownership and fleet expansion.
Speaking on the plan, Afolabi Olayinka, Executive Director of SIFAX Marine, said the company’s recent performance highlighted the need for deliberate investment in owned marine assets to achieve long-term growth.
“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. 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,” Olayinka said.
As part of the expansion drive, SIFAX Marine plans to acquire additional sea-going barges, creek vessels, and offshore support vessels. The planned acquisitions are expected to significantly increase operational capacity, deepen market reach, and unlock access to higher-value contracts, particularly within the oil and gas sector.
The company noted that expanding its owned fleet would allow it to retain more value within the business while providing clients with greater consistency, responsiveness, and certainty in service delivery.
A key pillar of the 2026 strategy is stronger participation in oil and gas projects. To achieve this, SIFAX Marine intends to invest in vessel types that meet higher regulatory classifications, enabling the company to compete more effectively on industry tender platforms and improve its prequalification standing with major operators.
According to Olayinka, the focus goes beyond growth to operational readiness.
“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 said.
The company said the strategy positions SIFAX Marine for long-term competitiveness while supporting Nigeria’s expanding offshore and energy-related maritime activities.
