Tag: Cabotage Vessel Financing Fund (CVFF)

Minister of Marine and Blue Economy, Dr. Adegboyega Oyetola, has directed the Nigerian Maritime Administration and Safety Agency (NIMASA) to work closely with the 12 approved Primary Lending Institutions (PLIs) to accelerate the disbursement of the Cabotage Vessel Financing Fund (CVFF) to qualified Nigerian shipowners. The directive underscores the Minister’s determination to end more than two decades of delays surrounding the disbursement of the fund and unlock a new era of growth, investment and job creation in Nigeria’s maritime sector. In a statement issued by his Special Adviser, Dr. Bolaji Akinola, on Sunday, Oyetola said significant progress had been made in processing applications under the CVFF framework. He disclosed that NIMASA had received 92 funding applications, with 20...