KEY POINTS
- The clean-energy marine push drives Caverton’s launch strategy.
- Caverton says the electric ferry cuts emissions and operating costs.
- The clean-energy marine push aligns with the firm’s recovery efforts.
Caverton Offshore Support Group Plc has taken a step into cleaner marine transport with the introduction of Nigeria’s first electric passenger ferry, expanding the company’s footprint beyond aviation and conventional marine services.
The project, led by Caverton Marine, gives the firm an early position in the shift toward battery-powered vessels on Lagos waterways and signals its intention to play a long-term role in the transition to quieter, lower-emission transport systems.
Electric Omibus leads clean-energy marine push
The launch centers on a prototype called the Electric Omibus, which Caverton Marine began showcasing last week to regulators, partners and government officials. The company describes it as the first fully electric ferry designed to operate on Lagos waters. It is built for short, high-frequency commercial routes and relies on a battery propulsion system instead of diesel engines. Company officials say this cuts emissions, trims noise levels and reduces maintenance demands since the vessel does not use gearboxes, exhaust assemblies or traditional marine engines.
The vessel is built around a Caverton-designed fiberglass passenger hull paired with dual electric motors powered by a modular lithium battery pack. The battery system includes protective management features and an inverter platform that supports stable acceleration on busy Lagos corridors. Engineers involved in the build say the vessel’s performance during demonstrations showed consistent handling suited for commercial traffic.
Olabode Makanjuola, chief executive of Caverton Offshore Support Group, said the rollout reflects confidence in domestic technical capacity. He told guests during the demonstration that the quiet movement of the ferry mirrors the direction modern transport is taking. He added that the project, developed with partners in China, shows what local firms can execute when supported by the right technical backing.
Clean-energy marine push guides Caverton’s strategy
According to Billionaire Africa, Caverton built the Electric Omibus in partnership with the Lagos State Government and ExploMar Energy Technology Co. Ltd of China, following an agreement reached in August 2024. Early modelling by both sides points to sizeable reductions in carbon output and operational costs compared with petrol-driven vessels.
The unveiling comes as Caverton works through a recovery phase after reporting losses triggered by higher operating costs and exchange-rate pressure. The group posted a loss of more than $36 million in 2024, although revenue rose to N40.18 billion ($27.6 million) from N33 billion ($22.65 million) a year earlier and gross profit increased. More recent numbers show a significant turnaround. Caverton’s net loss for the nine months ending September 2025 narrowed to N4.63 billion ($3.13 million), down sharply from N41.6 billion ($28 million) in the same period in 2024. The improvement came despite slower offshore activity and delays in contract renewals.
Caverton Marine sees the Electric Omibus as a start, not a standalone project. The company believes broader adoption across Nigeria’s waterways will depend on capital costs, regulatory support and the interest of private operators. It argues that the first ferry gives it a working platform for future vessels and provides evidence that local firms can build clean-energy marine craft capable of commercial use.
