Maritime: NIMASA Set To Disburse Cabotage Vessel Financing Fund To Grow Shipping Sector - Liberty TV/Radio - News - Voice For All! Vision For Alll!
Editor 2
May 27, 2019
Nigerian MaritimeAdministration and Safety Agency, NIMASA is determined to disburse the CabotageVessel Financing Fund, CVFF for the first time since it was established in2003.
The Director-Generalof NIMASA, Dakuku Peterside who announced this in Abuja said the agency wasengaging all relevant stakeholders to ensure that disbursement was made.
According toPeterside, the Minister of Transportation Rotimi Amaechi, has directed for aquick review of the guidelines governing the disbursement of the fund forprogress to be made.
He however said, part of what the agency intended to do within the year was the enforcement ofCabotage Law which would bring more Nigerians into the shipping trade.
The Cabotage VesselFinancing Fund, was established in 2003 mainly to promote indigenous shippingthrough loans to local operators.