NISA hails NIMASA’s launch of CVFF fund as Game changer for Maritime sector

NISA Hails NIMASA’s CVFF Portal Launch as Game-Changer for Maritime Sector

By Babatunde Aremu

The Nigerian Shipowners Association (NISA) has welcomed the launch of the Cabotage Vessel Financing Fund (CVFF) Application Portal by the Nigerian Maritime Administration and Safety Agency (NIMASA). The portal, designed to provide Nigerian shipowners with access to affordable financing, was commissioned at a ceremony attended by key stakeholders in the maritime industry.

The President of NISA , Otunba Sola Adewunmi in a Goodwill message signed on Thursday commended the President of the Federal Republic of Nigeria, His Excellency Bola Ahmed Tinubu, for his bold leadership and commitment to economic growth. I

He noted that the CVFF portal is a critical component of the Renewed Hope Agenda, which aims to diversify the economy and promote private sector growth.

“The launch of the CVFF portal is a significant milestone in our nation’s economic development, and we believe it will have a positive impact on the maritime sector,” He said.

The Director-General of NIMASA, in his remarks, noted that the launch of the portal marks a significant milestone in the agency’s efforts to reposition the maritime sector as a major contributor to the nation’s economic growth.

“The CVFF portal is a digital platform that will enable Nigerian shipowners to access affordable financing and increase their participation in the sector,” the DG said.

NIMASA’s efforts to promote indigenous participation in the maritime industry have been yielding positive results, and the launch of the CVFF portal is a testament to the agency’s commitment to the growth and development of the sector.

The Minister of Marine and Blue Economy, Dr. Adegboyega Oyetola, commended the efforts of the NIMASA management team for their tireless efforts in ensuring the successful launch of the portal.

“The CVFF portal is a game-changer for the maritime industry, as it will enable Nigerian shipowners to access affordable financing and increase their participation in the sector,” the Minister said.

Dr. Oyetola emphasized that the launch of the portal is a significant step towards achieving the goals of the Renewed Hope Agenda and promoting economic growth in the country.