The Ship Owners Association of Nigeria (SOAN) is hoping to access $3.5bn earmarked for fleet expansion.
The money is coming from an oil and gas development fund administered by the National Content Development and Management Board (NCDB).
SOAN president McGeorge Onyung told the Vanguard daily that NCDB had indicated $3.5bn is available for vessels connected to the energy sector.
Nigeria is considering barring overseas vessels from coastal trade, meaning a big potential demand for new domestic ships.
