Nigerian Maritime Administration and Safety Agency, NIMASA is determined to disburse the Cabotage Vessel Financing Fund, CVFF for the first time since it was established in 2003.
The Director-General of NIMASA, Dakuku Peterside who announced this in Abuja said the agency was engaging all relevant stakeholders to ensure that disbursement was made.
According to Peterside, the Minister of Transportation Rotimi Amaechi, has directed for a quick review of the guidelines governing the disbursement of the fund for progress to be made.
He however said, part of what the agency intended to do within the year was the enforcement of Cabotage Law which would bring more Nigerians into the shipping trade.
The Cabotage Vessel Financing Fund, was established in 2003 mainly to promote indigenous shipping through loans to local operators.
