The Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Dr. Bashir Jamoh, has called on indigenous shipowners to unite in groups to access the substantial Cabotage Vessel Financing Fund (CVFF), totaling over $360 million or approximately N427 trillion.
Although recommendations have been forwarded to the Minister of Marine and Blue Economy, Gboyega Oyetola, Jamoh encourages shipowners to draw inspiration from the successful consolidation in the banking sector.
Highlighting the potential benefits, Jamoh emphasized that collaboration among indigenous shipowners will enhance their capacity and enable them to tap into the vast opportunities in coastal trade.
Dr. Bashir Jamoh, in a conversation with a correspondent, underscored the importance of shipowners forming groups to access the fund effectively, highlighting the role of collaboration in leveraging this financial support.
Source: Daily Trust