Maritime Agencies
CVFF Disbursement: NIMASA Raises the Bar, Undertakes Sensitization To The Delight of Stakeholders.
By Izuchukwu Ozoemena
What appears a practical demonstration of political will, courage and commitment by the Federal Government to address the long-standing concerns of indigenous ship owners and other industry stakeholders regarding the disbursement of the Cabotage Vessel Financing Fund (CVFF) played out in Lagos, Monday, during a one-day stakeholders’ sensitization event to discuss the framework.
In his remarks, Dr Dayo Mobereola, the Director -General, Nigerian Martime Administration and Safety Agency (NIMASA) who described the gathering as a significant step aimed at strengthening the nation’s maritime sector emphasized that the disbursement would be transformative for the industry, as it empowers indigenous shipowners to compete favourably, boost local content, create employment opportunities and strengthen ancillary maritime services.
Finance gurus, technical experts, ship owners, bankers and primary lending institutions who turned out in their numbers were unanimous in expressing delight that at last, light is beginning to show at the end of the tunnel on the disbursement after years of promise-and-fail on the part of the Federal Government.
“The CVFF was established under the Coastal and Inland Shipping Act of 2003 to provide financial support to indigenous shipowners for vessel acquisition and capacity development”, Mobereola recalled.
“After nearly two decades of regulatory challenges, NIMASA has secured the necessary approvals for disbursement under President Bola Ahmed Tinubu’s leadership and with the support of the Honorable Minister of Marine and Blue Economy, HE Mr.Gboyeya Oyetola”.
Assuring that NIMASA has mapped out far-reaching measures for effective utilization of the fund, he said the disbursement is designed to have a positive impact on the maritime industry with benefits extending to indigenous shipowners, seafarers, and the broader economy.
To ensure transparency and accountability, he explained,
NIMASA has established a dedicated unit in the Cabotage Secretariat to develop a clear eligibility criteria and framework, and to partner with the accredited 12 Primary Lending Institutions (PLIs) to facilitate access to the fund. He advised prospective applicants to follow the established procedures through partner financial institutions.
“The CVFF is not a grant programme but a strategic investment in Nigeria’s maritime future.”
The DG emphasized the Agency’s commitment to ensure proper monitoring of the fund utilization to make sure it achieves its primary objective which is to grow the maritime sector.
“The operationalisation of the CVFF represents not just the end of a long wait but the beginning of a new era for Nigerian shipping.”
Whereas the CVFF is a loan with single-digit interest rate, stakeholders, including the technical committee, explained that the required counterpart funding from the PLIs is structured to reflect their commercial interest.
The tenure of the loan is tentatively structured by NIMASA for an eight month moratorium tipped the discussion, with the
However, experts observed that the tentative eight-months moratorium period structured by NIMASA is unrealistic, saying that it ought to be tailored in such a manner as to reflect the intendment of the Fund which is largely a support instrument.
In his submission, Jibril Abba, NIMASA’s Executive Director, Maritime Labour and Cabotage Services, said that the disbursement of the CVFF reflects the agency’s commitment to empowering local shipowners and operators as it would avail accessible financing options to reduce the reliance of indigenous ship owners on foreign vessels.
Stakeholders, he stated, should collaborate with NIMASA to
ensure the success of the CVFF disbursement and the sustainable growth of the maritime industry.
“NIMASA is working with Primary Lending Institutions (PLIs) to address issues such as insurance, fund security, flexible tenures, and the reduction of sundry fees to the barest minimum at subsidized rates. The agency is committed to empowering local shipowners and operators, stimulating domestic maritime commerce, and reducing reliance on foreign vessels.
“The CVFF disbursement is expected to have a positive impact on the nation’s economy, contributing to the growth of the Marine and Blue economy and catalyzing activities in other sectors. Stakeholders are optimistic about the potential of the CVFF to transform the maritime industry and promote economic development.
“By providing accessible financing options, NIMASA aims to boost indigenous ownership of marine assets and promote self-reliance in the maritime sector. The agency’s efforts are expected to lead to rapid economic growth and development, in line with the renewed Hope Agenda of the Administration.
“The success of the CVFF disbursement will depend on collaborative partnerships between NIMASA, shipowners, and other stakeholders. By working together, they can harness the full potential of the domestic shipping industry and ensure the sustainable growth of the maritime sector.
While expressing open optimism of the possibility of the disbursement taking place this time around, stakeholders drew attention to possible lapses government must address as the disbursement is being considered.
In this wise, Dr McGeorge Onyung, former President, Shipowners Association of Nigeria, Aminu Umar, (his Nigerian Chamber of Shipping counterpart) and other industry stakeholders commended the Minister of Marine and Blue Economy, Adegboyega Oyetola, and NIMASA for the untiring efforts in facilitating the disbursement of the funds.
Former Director-General of NIMASA, Temisan Omatseye, who had strong doubts previously regarding the realization of the CVFF, also commended NIMASA and the Minister of Marine and Blue Economy for the latest development.
Maritime Agencies
NIGERIA’S IMO FEAT: NIMASA Hails Media Contributions, Seeks Support For Sustained Momentum.
By Izuchukwu Ozoemena
The Nigerian Maritime Administration and Safety Agency(NIMASA) has acknowledged the invaluable support and contributions of Nigerian journalists, especially the maritime media, to the recent success of Nigeria at the International Maritime Organization(IMO) elections.
It could be recalled that Nigeria won the elusive category C council election at the IMO after 14 years of failed attempts.
Receiving the new leadership of the Maritime Reporters Association of Nigeria (MARAN) led by Mr Tunde Ayodele at the Headquarters of NIMASA, Edward Osagie, the Deputy Director and Head of the Public Relations Department of the agency noted that maritime media complemented the untiring efforts of the Ministry of Marine and Blue Economy and NIMASA to showcase the enormous maritime potentials of Nigeria and its capacity in maritime administration that eventually won the country the coveted global seat.
The NIMASA Chief spokesman highlighted the importance of developmental journalism to nation’s building while admonishing the media, especially maritime media, to guard against reportorial styles that could de-market the country.
”The international community is taking note of every single report we write as journalists about the country and it’s what they use to assess us as a nation.
” That is why it is imperative for us as journalists to allow patriotism and commitment to nation building guide the way we write”
He however frowned at attempt by few journalists to push wrong narrative over the recent incident of the arrest of a vessel, MT SKIPPER , detained by the United States Coast Guard (USCG)over alleged crude oil theft and other transnational crimes.
Osagie reiterated the fact that the detained vessel was neither flying Nigerian flag nor its purported owners, Thomarose Global Ventures Limited, registered with NIMASA as a shipping company.
He said that what identifies a vessel is the flag it flies and since the detained vessel did not carry Nigeria’s flag, those who tried to ascribe its ownership to Nigeria did so either out of sheer mischief or ignorance.
Osagie however lauded MARAN for its responsible journalism, acknowledging the support of its members to NIMASA despite the agency’s perceived shortcomings in their expectations.
” Despite the fact that the agency may not have met all the expectations of members of MARAN, they haven’t written negative reports on our activities and operations” Osagie noted.
” MARAN brand is a brand I am proud of and we are also proud of in the
industry. MARAN has not done badly in its reportorial duties.
”At NIMASA here, we will support anything you request and in any area we are able to support, we will support the administration for a smooth management of the association.
”And by the grace of God, we will not let you down. God bless you.God bless MARAN” NIMASA Chief image maker declared.
Ayodele has led his caretaker committee members to NIMASA to consolidate on the long-standing relationship between the agency and MARAN.
Leading his PR team to receive the MARAN leadership, Osagie expressed happiness on the visit which he believed will further boost the cordial relationship between the two parties
”I am glad that you’re here today. It’s a special day. I’m glad to have you in our midst today” Osagie enthused.
The two parties engaged in frank discussions aimed at enhancing their operations and further boost their shared values and partnership.
Ayodele informed his hosts that MARAN will continue to practise responsible journalism that will enhance the operations of NIMASA in particular and boost the credibility of the country to the outside world.
He therefore asked NIMASA to reciprocate this gesture through actions that will enhance the professional integrity and impact the welfare of his members.
Osagie however pledged the support of the agency for the new caretaker committee and the MARAN as a whole, a situation he said is in alignment with the belief of NIMASA’s management in the values which the agency shares with the association.
Maritime Agencies
OGUN 1 CUSTOMS: No Hiding Place for Smugglers, D.C.Afeni Pledges, Confiscates Exotic Cars, 2bn Worth of Contrabands in 11 Days.
By Izuchukwu Ozoemena
Barely taking over the mantle of leadership in the Ogun 1 Customs Area Command of the Nigeria Customs Service (NCS) following the transfer of Comptroller Godwin Otunla to the Murtala Muhammed Airport Command, the ‘brand new’ Acting Customs Area Controller (CAC), Deputy Controller O. O. Afeni, within 11 days, confiscated smuggled items valued at over ₦2 billion. These include exotic cars worth over N28 million. It is recalled that D.C. Afeni mounted the saddle on December 4, 2025 when he was appointed a CAC on acting capacity.
Addressing journalists at the Ogun 1 Area Command, Idiroko , Wednesday, the acting Area Controller declared a renewed crackdown on smuggling activities. He sounded a note of warning to smugglers saying that with him in charge, there will be no hiding place for perpetrators within the Command’s jurisdiction.
Different illicit items the Command intercepted include 16 parcels of heroin (16kg) valued at ₦240 million, 3,355 wraps of Cannabis Sativa worth ₦435.08 million, 2,200 kegs of foreign groundnut oil valued at ₦264 million, and 5,417 cartons of foreign spaghetti estimated at ₦162.51 million. The seizure, the Acting CAC observed underscores the command’s intensified efforts to curb the influx of illicit drugs and smuggled goods through Nigeria’s southwestern border corridors.
Also confiscated were narcotics which were handed over to the National Drug Law Enforcement Agency (NDLEA). Accepting the narcotics, the Idiroko Area Commander of NDLEA, Ekundayo Williams commended DC Afeni for what he described as spectacular seizures.
Maritime Agencies
Lekki Deepsea Port Set to Achieve Full Capacity Before Expectations, Deepens Barge Operations, among others.
By Izuchukwu Ozoemena
Barely three years since the commencement of port operations, the Lekki Deepsea has achieved half of its projected operational capacity. There has been a noticeable spike in container throughput especially since September, 2025, and chances are that the establishment will meet her full operational capacity before expectations. With this incredible growth rate, the port is set to overtake others in Nigeria by next year.

Managing Director/Chief Executive Officer of Lekki Port LFTZ Enterprise Ltd, Mr. Wang Qiang disclosed this in Lagos, Tuesday, during an end-of-the-year interaction and media tour of the facility to observe scanners, Customs at work and shipside night offloading of containers from a vessel at the quayside.
Mr Qiang who featured alongside other members of the top management of the port during the media chat said Lekki Deepsea Port currently operates at close to 50 percent capacity, reflecting increasing confidence by shipping lines and cargo owners in the ability of Nigeria’s first deep seaport to deliver not only for the local and regional market but even beyond. Top management officers present during the media parley included Weilian Zhong, C.O.O, Lekki Port, Jedrzej Mierzewski and Ajay Tyagi
“We already reached 50 per cent of our capacity now – almost 50 per cent of the port capacity,” he stated. He attributed this development to steady improvement in the number of twenty-foot equivalent units (TEUs) the port handles monthly.
He said cooperation is needed from stakeholders to improve efficiency badly needed in cargo movement. Critical stakeholders include government, the business community, importers, exporters (foreign and local). On trans-shipment, Qiang implored cooperation by all to achieve competitive trans -shipment. Efficient multimodal connectivity, he explained, is crucial in efforts to accelerate and maintain the desired growth at the port.
Barge operations, the Lekki Port boss said, has become an important means of evacuating cargo as it currently accounts for about 10% means of cargo movement. Since inception, the port has moved 3000 TEUs of cargo even as plans are in top gear to improve on the capacity.
On concerns about cargo dwell time, he announced that Lekki Deepsea Port cannot, on its own, reduce this. Importers, Customs, banks and all other players must collaborate to resolve issues of cargo dwell time. When cargoes move seamlessly, the port makes money.
The Lagos -Calabar coastal road is one infrastructure that will be of huge assistance in stemming down congestion, improve overall access and cargo evaluation from Lekki Deepsea Port, he explained. Even then, he added, rail connectivity remains essential, particularly given the quantum of industrial activities taking place along the Lekki corridor.
“I believe the train option is something the government is concerned about, and with the level of industrial activities in this region, we expect that it will be provided,” he added.
While reiterating that Lekki Port is a fully automated terminal, Wang asserted that delays may persist until all stakeholders, including government agencies, fully align with end-to-end digital processes.
He explained that Customs procedures, particularly physical cargo examinations, and other port services must be fully digitalised to significantly reduce cargo dwell time.
Also speaking, the Chief Executive Officer of Lekki Freeport Terminal (LFT), Capt. Jedrzej Mierzewski, expressed excitement that after only two years of operations, LFT has already become the number two terminal in the Nigerian market.
“We are the fastest-growing terminal in the country, combining modern infrastructure, operational excellence, and a clear ambition to become a leading transshipment hub for West Africa.
“Our growth supports the Nigerian economy by strengthening trade connectivity and helping to reduce the cost of foreign trade through efficient, reliable, and competitive port services.
“For automation to work efficiently, all players must be ready – customers, government and every stakeholder. Only then can we have a fantastic system.”
He also stressed that improved connectivity would allow the port to effectively double capacity through performance optimisation without expanding its physical footprint.
Speaking on the new tax regime coming into effect in 2026, he urged the government to adopt a simplified tax framework that supports ease of doing business. He cited Germany and other countries where goods are cleared from ports with a 30-day window allowed for value added tax (VAT) remittance.
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