Minister of Marine and Blue Economy – Shipping World News Magazine

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...

The Minister of Marine and Blue Economy, Dr. Adegboyega Oyetola, has directed the transfer of the inland dry port (IDP) functions of the Nigerian Shippers’ Council (NSC) to the Nigerian Ports Authority (NPA), in a move aimed at creating a clear separation between port economic regulation, development and operations. In a statement issued by his Special Adviser Dr. Bolaji Akinola in Abuja on Thursday, the Minister also directed the immediate constitution of a ministerial committee to oversee the transition of the Nigerian Shippers’ Council into the newly established Nigeria Ports Economic Regulatory Agency (NPERA), following President Bola Ahmed Tinubu’s assent to the NPERA Act, 2026. The directives are part of measures to establish a clear institutional framework for the new port eco...