Close Menu
    Facebook X (Twitter) Instagram
    Facebook X (Twitter) Instagram
    SweetCrudeReportsSweetCrudeReports
    Subscribe
    • Home
    • Oil
    • Gas
    • Power
    • Solid Minerals
    • Labour
    • Financing
    • Freight
    • Community Development
    • E-Editions
    SweetCrudeReportsSweetCrudeReports
    Home » Only qualified operators to access Cabotage Fund – NIMASA

    Only qualified operators to access Cabotage Fund – NIMASA

    May 27, 2016
    Share
    Facebook Twitter LinkedIn WhatsApp
    *Dakuku Peterside, Director-General of NIMASA.
    *Dakuku Peterside, Director-General of NIMASA.

    Kunle Kalejaye 27 May 2016, Sweetcrude, Lagos – The Nigerian Maritime Administration and Safety Agency, NIMASA, has reiterated that only qualified operators in the maritime industry could access the Cabotage Vessel Financing Fund, CVFF.

    NIMASA Director General, Dr. Dakuku Peterside, stated this in Abuja.

    The CVFF is a product of the Coastal and Inland Shipping Act of 2003 and provides for the disbursement of loans to indigenous operators in the shipping industry to grow their fleet.

    The fund is derived from the 2 percent surcharge on all Cabotage contracts which are deducted and warehoused in the CVFF.

    ‎Peterside explained that qualified operators would access the fund provided they met the requirements as stipulated in the guidelines.

    ‎The NIMASA boss stated that NIMASA plans to safeguard the CVFF from suffering the same fate as the Ship Building and Ship Acquisition Fund, SBSAF.

    He vowed that the agency under his leadership would take all necessary precautions to ensure that all national assets under its care, including CVFF, were used for the benefit of all Nigerians.

    Related News

    Nigeria, IOM seek scalable climate-driven solutions to migration crisis

    ENL Terminal debunk reports alleging ship fire

    1,500 NPA staff promoted in move to strengthen human capital base

    E-book
    Resilience Exhibition

    Latest News

    FG, States, LGCs share N1.659 revenue in May 2025

    June 22, 2025

    Military efforts slash crude oil theft, as Minister hails Armed Forces

    June 22, 2025

    Nigerian Navy cracks down on oil theft, arrests 76 vessels in two years

    June 22, 2025

    Rivers, Bayelsa left out as FG delivers life jackets to Kwara over boat mishaps

    June 22, 2025

    Nigeria commits $200m to health, eyes BRICS partnerships

    June 22, 2025
    Demo
    Facebook X (Twitter) Instagram
    • Opec Daily Basket
    • Oil
    • Power
    • Gas
    • Freight
    • Financing
    • Labour
    • Technology
    • Solid Mineral
    • Conferences/Seminars
    • Community Development
    • Nigerian Content Initiative
    • Niger-Delta Question
    • Insurance
    • Other News
    • Focus
    • Feedback
    • Hanging Out With Markson

    Subscribe for Updates

    Get the latest energy news from Sweetcrudereports.

    Please wait...
    Please enter all required fields Click to hide
    Correct invalid entries Click to hide
    © 2025 Sweetcrudereports.
    • About Us
    • Advertise with us
    • Privacy Policy

    Type above and press Enter to search. Press Esc to cancel.