The Federal Government has reaffirmed its commitment to unlocking the maritime industry’s full potential.
The Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, gave the assurance in his office in Abuja at the weekend when he met with the Director-General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Dr. Dayo Mobereola, to fast-track the deployment of the Cabotage Vessel Financing Fund (CVFF).
Mohammed Manga, the Director of Information and Public Relations in the ministry, said in a press release that the move was a crucial step towards supporting the growth of indigenous shipping companies.
He said the meeting focused on unlocking financing for local shipowners, adding that the discussions reinforced the government’s commitment to expanding coastal trade, creating jobs, and strengthening Nigeria’s position in the global shipping arena.
“Stronger collaboration between key stakeholders on the efficient utilisation of the funds to position Nigeria’s maritime industry for long-term growth was emphasised, ensuring that the CVFF delivers maximum impact.
“The renewed commitment to maritime growth is expected to have a positive ripple effect on the entire economy, driving growth, creating employment opportunities, and consolidating Nigeria’s status as a major maritime hub in Africa,” he said.
