Honourable Minister of Marine and Blue Economy – Shipping World News Magazine

In a landmark move poised to reshape Nigeria’s maritime landscape, the Honourable Minister of Marine and Blue Economy, His Excellency Adegboyega Isiaka Oyetola (CON), has directed the Nigerian Maritime Administration and Safety Agency (NIMASA) to commence the process that will lead to the long-awaited disbursement of the Cabotage Vessel Financing Fund (CVFF). This directive marks a significant shift from over two decades of administrative stagnation and ushers in a new era of strategic repositioning of Nigeria’s indigenous shipping. The CVFF, established under the Coastal and Inland Shipping (Cabotage) Act of 2003, was designed to empower Nigerian shipping companies through access to structured financing for vessel acquisition. However, successive administrations failed to operationaliz...

Your Excellency, Adegboyega Oyetola CON, Honourable Minister of Marine and Blue Economy, I trust that this letter meets you well. First, let me use this opportunity to thank President Bola Ahmed Tinubu. The creation of this Ministry was a dream come true for maritime stakeholders who over the years had yearned for specialized Ministry for the maritime sector. Your Excellency, sir, please convey our best wishes and warm appreciation to His Excellency, the President. Tell him we will not take this gesture for granted. As pioneer Minister of this Ministry, the burden on you to deliver Mr. President's vision in the Marine and Blue Economy is better imagined. This has been made worse, Mr Minister,due to the fact that you have little or no background in this sector prior to your appointment...