STARZS @40: How Vision, People and Innovation Built a Maritime Powerhouse – Iroghama
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For four decades, Starzs Investments Company Limited (SICL) has stood at the forefront of Nigeria’s maritime industry, earning a reputation for operational excellence, innovation and indigenous capacity development. Founded in 1986 by Engr. Greg Ogbeifun at a time when local participation in offshore marine logistics was limited, the company has grown into one of Nigeria’s leading indigenous maritime and offshore logistics providers.
Central to this journey is the vision of its Founder and Chairman, Engr. Greg Ogbeifun, whose philosophy extends beyond vessels and contracts to developing people, institutions and industry capacity. Through resilience, strategic leadership and a strong belief in indigenous enterprise, he built an institution anchored on integrity, excellence and value creation. Long before local content became a national priority, he was advancing Nigerian participation, investing in talent and demonstrating that indigenous firms could compete at the highest levels of the industry.
As SICL marks its 40th anniversary themed “Transforming Lives, 40 Years On,” Managing Director/CEO, Iroghama Ogbeifun reflects on the company’s evolution, the values sustaining its multi-generational growth, and emerging opportunities within Nigeria’s maritime and Blue Economy sectors. She discusses leadership, innovation, succession, capacity development and how the company’s success remains rooted in its founder’s vision, strengthened by its people and sustained commitment to excellence.
Excerpts:
Over the last decade, STARZS has recorded significant fleet expansion, increasing from three vessels to 11 vessels, first under the leadership of Engr. Greg Ogbeifun and subsequently under your leadership over the past five years. How has the organisation achieved such remarkable growth?
Having identified our niche as a leading offshore tug operator, we deliberately invested in Azimuth Stern Drive (ASD) vessels while developing the skilled workforce required to operate them. We recognised early that our people are the drivers of our assets, systems and long-term success.
Capacity development remains central to our strategy. Through our robust cadetship programme, we are building a pipeline of future captains, chief engineers, technical specialists and industry leaders. We see this not merely as an obligation but as a responsibility to the maritime industry.
Innovation has also been a major driver of our growth. We continue to deploy technology to improve efficiency, strengthen safety and enhance operational performance.
Equally important is our reputation. Over four decades, STARZS has earned the trust of clients through professionalism, consistency and reliable service delivery. Maintaining a leadership position in a highly competitive industry is the result of sustained operational excellence, and we are proud that many of our clients have remained with us for years because of that commitment.
The anniversary symposium is themed “Anchoring Resilience: 40 Years of Private Indigenous Initiative, Shaping Nigeria’s Maritime Future.” What informed this theme?
The theme reflects both our journey as an organisation and the broader role we have played in advancing Nigeria’s maritime industry. Capacity development, policy advocacy and support for industry growth have always been central to STARZS.
Our Chairman has consistently championed the development of Nigeria’s maritime sector and the Blue Economy. Through his service on presidential committees and numerous industry initiatives, he has advocated stronger indigenous participation and policies that support sustainable sectoral growth.
The theme therefore speaks to the resilience required to build and sustain an indigenous enterprise over four decades while recognising the contribution of private-sector operators to job creation, capacity development and industry advancement.
The symposium provides an opportunity for key stakeholders to move beyond discussing challenges and focus on practical solutions. It will bring together shipowners, investors, regulators and policymakers, including the Honourable Minister of Marine and Blue Economy, Adegboyega Oyetola; the Director-General of NIMASA, Dr. Dayo Mobereola; the Managing Director of the Nigerian Ports Authority, Dr. Abubakar Dantsoho; the Executive Secretary of the Nigerian Shippers’ Council, Dr. Pius Akutah; representatives of the Ministry of Finance; and other key stakeholders across the maritime value chain.
Discussions will focus on fiscal incentives, investment opportunities, ease of doing business and policy reforms needed to accelerate growth. Our expectation is that the symposium will produce practical recommendations and a communique that contributes to shaping the future of Nigeria’s maritime and Blue Economy sectors.
While the event celebrates our 40-year milestone, it is equally an opportunity to look ahead and explore how government and the private sector can work together to unlock greater value, strengthen indigenous capacity and position Nigeria more competitively in the global maritime industry.
Our founder is a highly disciplined marine engineer trained by Shell. He is committed to the highest standards of quality and service delivery and only undertakes projects he is confident can be delivered excellently. For him, giving 100 per cent has never been enough; he always strives to exceed expectations.
Integrity is another defining value that has shaped both his leadership and our corporate culture. His guiding principle has always been that a good name is better than silver and gold, and over the years his reputation has become synonymous with integrity.
Beyond integrity, he has consistently demonstrated strategic vision, resilience, innovation and an unwavering commitment to building lasting relationships. These values remain embedded in STARZS and continue to guide how we operate.
We are also a faith-based organisation. Weekly devotion forms part of our corporate culture because we acknowledge that our success is anchored in God. It is a defining aspect of who we are.
Today, STARZS employs more than 200 people, and our Chairman’s commitment to investing in people remains one of the strongest pillars of the organisation. That culture has enabled us to build a resilient business that has thrived for four decades and remains well positioned for the future.
You took over the affairs of the company from your father a few years ago. What has the experience been like?
I am grateful to have learned under the tutelage of a leader deeply committed to excellence. Becoming Managing Director and CEO did not happen overnight. Before assuming the role, I served as Chief Operating Officer and later Executive Director, working closely with our Chairman for seven years before he stepped aside. That experience gave me a deep understanding of his long-term vision and the culture he intentionally built, while allowing for a deliberate and structured leadership transition.
I have now served as CEO for five years, and it has been an immensely rewarding journey. The transition represented more than a change in leadership; it marked the beginning of the next generation. We accelerated technology adoption, implemented an organisational transformation framework and strengthened our strategic focus.
Recognising that the business was transitioning from founder-led to institution-led, we prioritised governance, sustainability and succession planning. Participation in the Stanford SEED programme further shaped our approach, leading to stronger governance structures, including the appointment of independent and non-executive directors.
One of the most rewarding aspects of this journey has been seeing the next generation join STARZS. Today, we have employees, interns and cadets whose parents either work or previously worked with the company. That speaks to the trust people continue to place in our organisation and the legacy we have built.
We have maintained growth and stability while laying the foundation for the next phase of our journey which is expanding STARZS beyond Nigeria and establishing a stronger presence across Africa.
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 considerable advancement, including the rise of indigenous maritime companies, dating back to when our Chairman led one of the early entrants into the offshore marine logistics space over 20 years ago. However, strengthening local capacity still requires improved access to funding, which remains one of the major challenges for indigenous operators.
Two key Acts have driven indigenous participation. The first is the Cabotage Act, administered by NIMASA, and the second is the Nigerian Oil and Gas Industry Content Development (NOGICD) Act, which established the Nigerian Content Development and Monitoring Board (NCDMB). Both have significantly boosted local content and participation.
The Nigerian Content Act and NCDMB programmes, particularly the Nigerian Content Intervention Fund (NCIF), have been key catalysts for indigenous growth in the maritime sector. Many marine companies have benefited, improving both capacity and competitiveness.
NIMASA’s planned disbursement of the Cabotage Vessel Financing Fund (CVFF) will further support operators seeking affordable financing. Access to long-term, low-cost capital is critical in this capital-intensive sector. Beyond financing, however, opportunity remains even more important.
Nigerian companies have significantly improved in competence, and oil companies are increasingly confident in awarding contracts to indigenous operators with proven capacity. NCDMB has also ensured that Nigerian capacity is considered first before foreign alternatives, encouraging investment and expansion.
Despite this, several bottlenecks remain, which informed the STARZS 40th Anniversary Symposium themed “Anchoring Resilience: 40 Years of Private Indigenous Initiative, Shaping Nigeria’s Maritime Future.” While progress is evident, policy and structural constraints still limit broader participation.
We must look beyond oil and gas, which has dominated local content interventions. While NCDMB has preserved opportunities in that sector, other areas of the maritime industry remain underdeveloped for indigenous players.
In crude lifting, cargo transportation and general logistics, few Nigerian-owned vessels participate at scale. The same applies to fish trawling, where indigenous ownership remains low despite strong potential.
There are still vast opportunities across the wider maritime ecosystem. NIMASA can play a stronger catalytic role by creating enabling policies that encourage participation. Government must also address structural barriers limiting Nigerian firms from competing in sectors still dominated by foreign operators.
Ultimately, the goal is an environment where indigenous companies not only participate but thrive across the maritime value chain. That is how sustainable local capacity is built and Nigeria’s maritime economy fully unlocked.
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 accessed funding through strong banking relationships and strategic partnerships. One local bank has been our partner for over three decades and has consistently supported our growth. Our two new vessels, built with DAMEN Shipyards, were financed by this bank. It has remained dependable in supporting fleet expansion.
We have also leveraged intervention programmes such as the Nigerian Content Intervention Fund (NCIF), which supported the acquisition of our latest vessel. The Bank of Industry (BoI) has also been instrumental in providing access to intervention financing that supported our expansion.
Beyond local funding, we have strategic partnerships with European financiers who have supported vessel acquisition and capacity growth. These partnerships have strengthened our industry position.
Ultimately, access to finance has been driven by credibility, strong relationships and a proven performance record. Financial institutions are more willing to support businesses that demonstrate consistency and reliability over time.
How have foreign exchange volatility and the cost of vessel financing affected ship acquisition, fleet expansion, and operational sustainability in Nigeria?
I commend the current administration for removing the gap between the parallel market and CBN rates. Before exchange rate unification, the disparity created major challenges in sourcing foreign exchange for maritime operations.
Most operating expenses are dollar-denominated. After receiving Naira payments, we still had to convert back into dollars for spare parts, maintenance, equipment and operations, exposing us to substantial foreign exchange risk.
The unification of the exchange rate has removed artificial distortions and improved transparency by allowing the Naira to reflect market realities. While FX exposure remains, there is now greater stability and predictability.
This stability allows businesses to plan better, manage costs more effectively and make long-term investment decisions with reduced uncertainty.
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 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?
Technology is reshaping the maritime industry by improving safety and sustainability, and STARZS has actively adopted it. A key example is the STARZS Safe 40+ App, developed to address challenges our crew faced in accessing and applying onboard safety procedures.
The app gives crew members mobile access to all safety management policies, processes and procedures. It also allows them to report safety observations, hazards, near misses and incidents directly, ensuring real-time reporting and ease of use since every crew member operates with a smartphone.
We also use the platform to recognise safety champions based on reporting performance, which serves as motivation and reinforces a stronger safety culture.
During the COVID-19 period, we introduced a digital remote diagnostics system combining software and hardware to support offshore vessels with limited physical interaction. It enabled remote fault diagnosis, guided crew interventions, and helped identify root causes faster, significantly reducing downtime and repair time.
In addition, CCTV systems across all vessels provide real-time monitoring from shore, including during safety drills, allowing performance assessment and stronger operational oversight. Together, these tools have strengthened safety compliance, responsiveness and fleet-wide discipline.
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 directly drives revenue; without utilisation, there is no income. It is therefore a core measure of operational performance and sustainability.
At the start of each year, we set utilisation targets for every vessel, factoring in planned maintenance to ensure safety and efficiency. These targets are cascaded across the organisation so every team understands its responsibilities.
We reinforce alignment by ensuring leadership vision is embedded throughout the organisation, giving employees ownership of outcomes. This strengthens accountability, as staff understand their direct impact on operational performance.
We also place strong emphasis on equipping personnel with the right tools and knowledge. Human capacity development remains central to sustaining vessel availability, improving utilisation, and delivering consistent value to clients.
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 maritime operations, the key difference is the shift from simply executing tasks to consistently delivering value. This separates short-term operators from legacy institutions. STARZS has not only reached the 40-year mark but has also successfully transitioned leadership across generations without any decline in performance or growth. That continuity is a major achievement.
Environmental protection is a core priority. We run tree-planting initiatives and have signed an MoU with a recycling company, providing recycling and waste receptacles in selected communities in Rivers State to promote sustainable practices. We are also aligning new vessel acquisitions with environmental goals to reduce emissions and improve efficiency.
Beyond environmental initiatives, we maintain ISO certification and about 20 years of sustained offshore experience. Our long-term partnership with TotalEnergies for over 16 years reflects our consistency, reliability and commitment to excellence. What differentiates STARZS is not just assets or longevity, but credibility, trust and sustained performance built over time.
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?
I serve as Chairman of the Technical and Operations Committee at NIMASA, which allows me to contribute to key sector initiatives. A major focus has been the CVFF. I have also contributed to strengthening the ship registry, including engagements with Lloyd’s Register to support digitalisation and global best practices.
As the only maritime operator on the Board, I provide practical industry insight to ongoing projects, helping align policy with operational realities. The objective is to improve processes and strengthen sector competitiveness.
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?
STARZS operates a strong governance structure. Following my appointment to the NIMASA Board, we created the role of Deputy Managing Director, filled by Mr Adeniyi Adeyi, to support day-to-day management.
My role at NIMASA is non-executive, focused on oversight and technical input at Board level, not operational management. This structure ensures clear separation of responsibilities, allowing me to effectively serve on the NIMASA Board while continuing as MD/CEO of STARZS without disruption to operations.
What’s your vision for expanding STARZS offshore marine logistics footprint over the next decade?
The goal is to scale our maritime enterprise with a focus on digital integration, the energy transition and expanding domestic capacity. Over the next decade, we aim to become a truly pan-African company, which remains our core growth strategy.
We are already progressing deliberately in this direction. We have opened a STARZS office in Liberia, where we are exploring port logistics opportunities, and we are also engaged in offshore vessel partnerships in Namibia.
These expansions are not driven by scale alone but by sustainable growth anchored on the same values of excellence, innovation and people development that have defined STARZS for 40 years.
By leveraging these opportunities and maintaining operational excellence, we are positioning STARZS as a pan-African maritime company within the next decade.
How have you impacted your host communities as a company?
STARZS is committed to being a responsible corporate citizen through education, skills development, infrastructure support and environmental initiatives. We recognise that our operations are embedded in host communities and have prioritised long-term partnerships with them.
As part of our CSR programme, we are launching the 40 for 40 Skills Acquisition Programme, training 40 people from our four host communities (Onne, Ogu, Rumuadaolu and Bonny) in oil and gas and maritime-related skills. The aim is to build capacity and improve employability.
We also run a scholarship programme, sponsoring indigenes to study at the Maritime Academy, with top performers offered cadet placements onboard our vessels to support career development in the industry.
In education, we have renovated schools, upgraded classrooms, and provided learning materials. In one case, we installed a solar-powered borehole, restored water access and rehabilitated sanitation facilities to improve usability.
As part of our 40th anniversary, we are distributing over 3,000 educational materials across our host communities.
We also support environmental sustainability through clean-up initiatives and the provision of recycling and waste receptacles to promote proper waste management.
Ultimately, our community investments reflect our belief that long-term business success is tied to shared value and the well-being of the communities we serve.
