Nigeria In One Minute
Ship owners Urge FG to Commence Disbursement of $124m CVFF
Stakeholders in the maritime and shipping sector of the nation’s economy have called on the federal government to commence the disbursement of the $124 million (N45.26 billion) Cabotage Vessel Financing Fund (CVFF), in line with its promise last year.
This, they stated, would help revitalise the industry and ensure that a larger percentage of Nigerians play in the industry and create employment for Nigerians.
Some ship-owners who spoke to THISDAY on the condition of anonymity said the decision by the government not to disburse the fund domiciled at the Central Bank of Nigeria (CBN) defeats the purpose for which the fund was set up.
Following relentless agitation by the Nigerian ship owners that the federal government disburse the CVFF in line with set down regulations, the Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Dr. Dakuku Peterside had last year said the agency would commence the disbursement in 2019.
This Day, Friday 22, February.
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