CVFF – Shipping World News Magazine

Aug132024 by Asu BeksNo Comments

CVFF FUND: Stakeholders Say “there is nothing to disburse” …

Maritime

Brother, I greet you. Trust you are well. I saw this one, captioned Mobereola dashes the early hope of disbursement of CVFF. Let me be very Frank with you. There is actually nothing to disburse in the first instance. All these rethorics from the management of Nimasa leadership over the years were mere propaganda, and the new sherif in town is here to also do his own drama. Enjoy the rest of your day.

Jan112018 by Asu BeksNo Comments

Sea time training for Nigerian Cadets: Counting our losses to foreign shipowners

Opinion

When the Nigerian Seafarers Development Programme (NSDP) was introduced in 2008, it was meant to develop a pool of trained cadets who would man our vessels especially with the coming on stream of the Cabotage Act 2003. The thinking then was that with the production of certified seafarers, the dearth of seafarers arising from old age and death would be a thing of the past. According to the Nigerian Maritime Administration and Safety Agency, NIMASA, so far, about 2, 500 cadets have been trained from the NSDP excluding those trained from the Maritime Academy of Nigeria, Oron, Akwa Ibom State and other approved maritime schools within the country. Recently, at a well-attended meeting in Lagos, the Director General of NIMASA, Dr. Dakuku Peterside announced that it was sending out ...

Dec102017 by Our EditorNo Comments

$100 billion Ship building Fund: Ship Owners may drag Amaechi before Buhari

Breaking News, Business, Maritime, Opinion

The Nigerian Ship Owners Association (NSOA) is set to drag the Transportation Minister, Rotimi Amaechi, before President Muhammad Buhari over the refusal of the Nigerian Maritime Administration & Safety Agency (NIMASA) to commence the disbursement of the Cabotage Vessel Financing Fund (CVFF). The end of year dinner of the NSOA last week in Lagos almost degenerated into a brawl when Engr. Greg Ogbeifun challenged the minister to show them where he derived his powers to hold back the CVFF. The funds are about $100 billion. At the dinner, Amaechi had boasted that as long as he remained the minister of transportation, not one Kobo of the CVFF would be disbursed. The CVFF currently domiciled in NIMASA has become an issue of controversy as successive managements in the agency have ...

Dec92017 by Our EditorNo Comments

Amaechi, Ship Owners Fight Dirty over N100b Vessel Financing Fund

Breaking News, Business, Maritime

The Minister of Transportation, Rotimi Amaechi on Thursday announced that he will not disburse the Cabotage Vessel Financing Fund (CVFF), dashing the hopes and expectation of indigenous ship owners, who have been waiting for the disbursement of the fund for more than a decade. This is even as the ship owners demanded the sack of Dakuku Peterside as Director-General of the Nigerian Maritime Administration and Safety Agency (NIMASA) for his incompetence in running the affairs of the agency. Amaechi told a gathering of ship owners and key stakeholders who converged at a workshop and dinner organized by the Ship Owners Association of Nigeria (SOAN) that as long as he remains the minister, the fund will not be disbursed. The CVFF which currently stands at over $100billion was created solely...