Oritsegbubemi Omatseyin
Lagos — In a significant move to revitalise Nigeria’s maritime industry, the Federal Government has reaffirmed its commitment to unlocking the sector’s full potential.
The Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, gave the assurance in his office in Abuja when he met with the Nigerian Maritime Administration and Safety Agency, NIMASA, Director General, Dr. Dayo Mobereola, to fast-track the deployment of the Cabotage Vessel Financing Fund, CVFF, a crucial step toward supporting the growth of indigenous shipping companies.
The meeting focused on unlocking financing for local shipowners. The discussions reinforced the government’s commitment to expanding coastal trade, creating jobs, and strengthening Nigeria’s position in the global shipping arena.
The minister stressed the need for stronger collaboration between key stakeholders on the efficient utilisation of the funds to position Nigeria’s maritime industry for long-term growth to ensure the CVFF delivers maximum impact.
He expressed renewed commitment to maritime growth, saying this will have positive ripple effect on the entire economy, driving growth, creating employment opportunities, and consolidating Nigeria’s status as a major maritime hub in Africa.
