Greg Ogbeifun is a widely respected name in Nigeria’s maritime industry. An industrialist, marine engineer, shipowner and a sought-after maritime expert, he is one of those individuals who does not just participate in the industry -he helps shape it, often drawing from both experience and conviction.
Trained in the United Kingdom through a Shell BP Nigeria scholarship in 1972, Ogbeifun ventured into business in 1988 and has, over the past four decades, built an enterprise that cuts across shipping, automobile care services, energy, security and hospitality.
His Beginning
In 1984, he established Starzs Investments Company Limited- a company that has grown to acquire and deploy vessels supporting Nigeria’s Oil and Gas maritime operations.
Then, on October 28, 1992, he founded Starzs Marine & Engineering Limited, Nigeria’s first privately owned ship repair yard. Today, that same shipyard is undergoing a $365 million expansion expected to increase capacity significantly, including the installation of a 10,000-ton ship lift, with Afreximbank playing a key financing role.
“I established the first privately owned ship repair yard in this country years ago. We are expanding from a 500-ton floating dock to a 10,000-ton ship lift facility—this is about building capacity for Nigeria’s maritime future.
“The $365 million expansion is something I have worked on quietly for years. These things take patience and vision. Any vehicle is a toy compared to a ship. I am a marine engineer—I spent ten years training for this. Shipping is not just business; it is infrastructure. It is about national capacity,” he said in a recent media interview in Benin.
To think that the Conglomerate began with ₦100...
Starzs was his first business and his nearly 40-year journey in shipping puts him in a rare class of professionals who possess deep, working knowledge of global shipping-knowledge gained not from theory, but from years onboard international vessels and in the trenches of running companies.
In his 2022 memoir, *Not Always Easy: My Voyage from Obscurity*, he recounts starting out with just ₦100 in his coffers. For context, in 1988, ₦100 was roughly $22. Even at the time, that amount could hardly start any serious business-let alone shipping, which is as capital-intensive as it is technical.
But then again, knowledge is power.
Armed with expertise in ship operations and repairs—something scarcely found among Nigerians at the time—Ogbeifun understood the value he carried, even when the capital was not there. And that, more than anything, shaped his early decisions.
Shipping Under Policy Shifts
To fully understand his trajectory, you have to look at the industry he stepped into.
The late 1980s were anything but stable for Nigeria’s maritime sector. Indigenous participation in shipping was minimal—capital was scarce, access to finance was limited, and the industry itself is governed by strict international conventions where non-compliance could attract heavy penalties, even jail terms.
At the same time, Nigeria was transitioning under the Structural Adjustment Programme (SAP), moving from protective policies to liberalised frameworks. The Nigerian National Shipping Line (NNSL) was already struggling, and policy direction at the time was, in many ways, uncertain.
Six companies had “national carrier” status, collectively owning 24 vessels—19 of which belonged to the already ailing NNSL. Despite the UNCTAD 40:40:20 cargo sharing formula, Nigerian operators moved only about 11% of the nation’s cargo. The remaining 89%? Foreign operators. And really, that has always been the crux of the matter.
At the time, an average used supply vessel or small tanker cost about $2–3 million. Today, you are looking at $5 million to $30 million, conservatively speaking.
So, when you consider this, Ogbeifun’s strategy of acquiring and refitting abandoned or comatose vessels was not just clever—it was necessary. Especially as he was not a beneficiary of the Ship Acquisition and Ship Building Fund (SASBF), a scheme that has, over the years, been criticised for weak governance and lack of transparency. It largely served political interests more than the industry—but I digress.
Governance as Strategy
By the 2000s, it had become clear that several government-led interventions in shipping had failed. The NNSL had collapsed, publicly funded vessels had become entangled in controversies, and the SASBF had lost credibility.
Industry confidence was low, and corporate governance deficiencies were glaring.
This was where private sector voices became critical. Through platforms like NIMAREX, stakeholders engaged government, pushing for reforms and rebuilding confidence. Engr. Greg Ogbeifun was one of the prominent voices in that space—consistent, informed and solution-driven. He also pioneered the Ship Owners Association of Nigeria (SOAN).
But perhaps his smartest move was not advocacy.
It was structure.
At a time when many maritime businesses operated without defined systems, Ogbeifun institutionalised corporate governance within Starzs. In a 2015 interview I had with him—featured in the documentary *Green Waters: A Story of Indigenous Shipping Owning in Nigeria*—he revealed that Starzs brought in PricewaterhouseCoopers to assess its readiness for international business.
They implemented the recommendations within three years. And once that was done, access to funding, partnerships and long-term contracts became significantly easier.
In this industry, structure is everything.
Ogbeifun Beyond Shipping
His investments do not stop at shipping.
Diverse Automobile Care Centre in Benin is one of those projects that reflects both vision and practicality. The facility is equipped to handle all classes of vehicles—luxury and electric included—using advanced diagnostic systems, while also serving as a training ground for Nigerian youths.
It integrates formally trained engineers with traditional mechanics and is accredited by Toyota Nigeria and CFAO.
“The desire to create what does not exist remains my driving force. I was not driven by money. If I wanted to make money, I would not go into shipping. I am driven by purpose and professionalism.
“Money is a necessity, not a luxury. All the money I make, you see it on the street—creating platforms and jobs. It is the people you empower who will eventually take care of you. That is the real wealth. You can’t give what you don’t have. If I don’t understand a business, I have no right running it,” he said during a facility tour in Benin.
He is also expanding into the energy space through Starzs Gas, a compressed natural gas (CNG) initiative aimed at supplying gas for vehicles and industries.
Across all his businesses, one thing is consistent: governance, structure, and a long-term view.
His Defining Legacy at 75
Born on February 11, 1951, in Benin City, Engr. Greg Ogbeifun’s story is one of resilience, clarity and deliberate building.
From starting with ₦100 to overseeing a $365 million shipyard expansion, his journey is not just about business growth—it is about capacity. National capacity.
Across industries, his legacy lies not just in what he has built, but in how he has built it—systems, standards, and people.
And in his own words, it really comes down to this:
“Shipping is not just business; it is infrastructure. It is about national capacity.”