I also paid glowing tribute to the Minister of Marine and Blue Economy, Adegboyega Oyetola ,for his commitment towards a timely disbursement.
As DG, NIMASA, I had, in that letter appreciated the burden on your shoulders as you navigate through these turbulent times to justify the confidence reposed in you by President Bola Ahmed Tinubu and that God should bestow on you the wisdom of Solomon and the heart of a lion to overcome the myriad of problems you have had to contend with, since the mantle of leadership fell on you to take NIMASA to the Promised Land. As a critical stakeholder, I had , in that letter, drawn your attention to the enormous responsibilities which rests on your shoulders as head of Nigeriaโs maritime administration.
I had also reminded Dayo Mobereola that if disbursement of the CVFF is the only thing he can achieve during his tenure as DG NIMASA, he would have written his name in gold.
Now, with the August 2025 timeline set by Minister Oyetola for disbursement fast approaching, we are yet to see boots on the ground by Nigerian Shipowners. We are yet to see ,in clear terms, a commitment on the part of Shipowners, and how prepared they are to grab this olive branch by the Federal Government.
For long, Nigerian shipowners have been pauperised by the absence of any form of interventions from the government at the centre to this critical sector since the defunct Ship Building and Aquisition Fund was discontinued some years ago. It was, therefore, a thing of joy when last May , the Minister of Marine and Blue Economy, Adegboyega Oyetola, handed a marching order to NIMASA to immediately commence the process for the disbursement of the CVFF. Dayo Mobereola had declared at an event in Lagos: โI am delighted to announce that under President Bola Ahmed Tinubuโs leadership, and with the support of the Honourable Minister of Marine and Blue Economy, H.E Adegboyega Oyetola, we have secured the necessary approvals for disbursement. This disbursement will be transformative for our industry by empowering indigenous shipowners to compete favourably, boost local content in the maritime sector, create employment opportunities for Nigerian seafarers, and strengthen ancillary maritime services.โ
Mobereola was speaking recently in Lagos at a one-day interactive forum organised for stakeholders on the operationalisation of the Cabotage Vessel Financing Fund (CVFF).
This was a statement of commitment which attracted applause from critical stakeholders, especially shipowners .
The NIMASA helmsman, Iโm sure is aware that this is not the first time that an assurance such as this would be placed before stakeholders.
Under the President Muhammadu Buhariโs administration, a similar approval was sought and obtained by the former Transportation Minister, Mr Muaji Sambo, but actual disbursement did not take place due to some administrative bottlenecks. This is why the disclosure by Oyetola that โCVFF disbursement will commence in Augustโ has been received with mix feelings.
But with August, a few days away, we are yet to know from NIMASA how many Shipowners have met the terms and conditions (guidelines) set out by NIMASA.
My enquiries from top officials at the Agency to ascertain the level of compliance by shipowners did not produce any useful information.
As Nigerians patiently await the August date for disbursement, I wish to once again present to Mobereola, DG NIMASA, some frequently asked questions about the CVFFโ
Credit:The Sun