The Maritime Administration and Safety Agency wanted to merge with the Nigerian Indigenous Shipowners Association before distributing the $350 million and N16 billion Cabotage Vessels Financing Fund, but the Shipowners Association of Nigeria objected.
NIMASA met with NISA, another group of shipowners in the nation, and requested that they merge so that it could distribute the Cabotage Vessels Financing Fund. The SOAN has criticized NIMASA’s request, arguing that the money should be distributed in accordance with Cabotage law.
The Federal Ministry of Transportation cannot have a committee called CVFF committee while NISA also has a committee called CVFF committee, the NIMASA DG informed. Togetherness, according to him, was a wish and not part of the requirements for the disbursement of the fund.
