The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has reaffirmed the commitment of President Bola Tinubu’s administration to the disbursement of the Cabotage Vessel Financing Fund (CVFF).
This was disclosed by Edun when the Director-General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Dayo Mobereola, led a delegation to met him in the office.
The CVFF was established under the Coastal and Inland Shipping (Cabotage) Act 2003, aims to develop indigenous ship acquisition capacity and provide financial assistance to Nigerian operators in the domestic coastal shipping business.
The minister said the CVFF disbursement remains a priority to the government, as it is expected to have a positive ripple effect on the economy, drive growth, create employment opportunities, and strengthen Nigeria’s position as a major maritime hub in Africa.
On his part, Mobereola stated that the Ministry of Marine and Blue Economy has identified the CVFF disbursement as a key performance indicator (KPI) for 2025.
