Mkpoikana Udoma
Port Harcourt — The Nigerian government on Tuesday announced plans to finalize arrangements for the disbursement of the Cabotage Vessel Financing Fund, CVFF, to support the development of the maritime sector in the country.
The CVFF is expected to provide financial support to indigenous shipowners and operators to acquire vessels and equipment, thereby boosting the country’s maritime capacity and competitiveness.
The Minister of Marine and Blue Economy, Adegboyega Oyetola, said this during a working visit to the National Inland Waterways Authority, NIWA headquarters, where he also inaugurated several projects aimed at enhancing water transportation and safety.
Tweeting on his official X handle, Oyetola commended NIWA for implementing the Water Transportation Code and introducing new boats and projects to improve water transportation and safety.
He emphasized the need to increase navigable waterways from 3,000 to 5,000 kilometers through holistic dredging and support the maritime sector through policies and partnerships.
“The commitment to addressing operational challenges, increasing navigable waterways, and supporting the maritime sector through policies and partnerships is emphasized. These projects contribute significantly to the Renewed Hope Agenda and national development.
“I am aware that of the 10,000 kilometers of our waterways, only 3,000 kilometers are navigable. We are determined to increase this by at least 2,000 kilometers. This necessitates a holistic dredging of strategically important inland waterways for the passage of goods and people. This task must be accomplished to create positive change and leave a lasting legacy for future generations.
“Similarly, the ministry is engaging relevant stakeholders to finalize arrangements for the disbursement of the Cabotage Vessel Financing Fund, CVFF, for developing the maritime sector.
“As a ministry, we will continue to create an enabling environment, develop policies, and offer the necessary support to grow the Inland Waterways segment of the maritime sector in line with President Bola Ahmed Tinubu’s Renewed Hope Agenda,” Oyetola tweeted.
The Minister also inaugurated 15 new boats, including surveillance vessels, safety enforcement boats, and passenger boats, to improve water transportation and safety in the country.
The projects, he said are part of the Ministry’s efforts to improve Nigeria’s trade balance, strengthen the Naira, and create jobs, in line with President Bola Ahmed Tinubu’s Renewed Hope Agenda.
“My visit aims to align NIWA’s efforts with the Ministry’s vision to improve Nigeria’s trade balance, strengthen the Naira, and create jobs. I commend NIWA for implementing the Water Transportation Code and introducing new boats and projects to improve water transportation and safety.
“A total of 15 boats of varying capacities and uses were introduced, including: three boats with 150 horsepower each for surveillance, ensuring NIWA Police officers are more visible. Five boats with double 75 horsepower engines each for enforcing safety rules and regulations. One combat-ready Gun Patrol Boat with 115 horsepower for emergency responses to security threats.
“One 62-seater passenger boat as a pilot scheme to replace the wooden passenger canoe. Three fully equipped water ambulances for prompt emergency responses. Two hydrographic survey boats with multi-beam echo sounders to provide a more detailed and accurate picture of the seafloor.”
