Mkpoikana Udoma
Port Harcourt — The federal government has announced that it will commence the disbursement of Cabotage Vessels Financing Fund, in order to build and increased local capacity in the maritime sector, as well as improve the nation’s economy, before the end of 2022.
The Minister of Transportation, Mu’azu Jaji Sambo, said this while commissioning two boats acquired by the National Inland Waterways Authority in Marine Base, Port Harcourt, said CVFF is a fund established under the Cabotage Act, in order to build domestic capacity.
Sambo who harped on the need to build local capacity for Nigerians involved in maritime business, said machinery have already been put in place to commence the disbursement of the funds in no distant time.
He also assured of his continued support to NIWA, saying that inland waterways transportation remains an alternative means of moving a nation’s economic growth and development, especially when that country is endowed with water.
“Regarding the Cabotage Vessel Financing Fund, it is a low hanging fruit, and I will do everything within my powers to ensure that fund is disbursed to Nigerians as quickly as possible, so that Nigerian ship owners can increase capacity as well as generate wealth here instead of patronizing foreign ships and money from such business is taken out from Nigerians and rending us jobless.
“So, I want to assure the maritime community that i have already put in place machinery to ensure that we benefit from the Cabotage Vessel Financing Fund before the end of this year by the grace of God.”
The Minister also urged the Managing Director of NIWA to ensure that Marina Area Office of the Authority becomes a hub for trans-shipping cargo from Lagos through the intra-coastal routes to Warri, Onitsha up to Baro port.
“Whatsoever support you will require to get this project kick off, i will give it to you. Please move as quickly as you can to get this channel management operationalized.”
Earlier, the Managing Director of NIWA, Dr. George Moghalu disclosed that the Authority has licensed several companies for the transportation of cargo across the waterways in Nigeria, especially, from Lagos and Onne Ports to the hinterlands.
Moghalu said the newly acquired boats will enhance the operational efficiency of the Authority, adding that NIWA in the last one year has acquired more than 20 different kinds of boats, patrol boats, tugboat, houseboat and water ambulance for distribution to various Area Offices of the Authority.
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