Sunday, February 5Nigeria's Authoritative Maritime News Magazine
Shadow

Tag: CVFF

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

$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 ...
Amaechi, Ship Owners Fight Dirty over N100b Vessel  Financing Fund

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...