The Federal Government has reaffirmed its commitment to disbursing the Cabotage Vessel Financing Fund (CVFF) to boost Nigeria’s maritime sector.
This assurance was given by the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, during a meeting with the Director-General of NIMASA, Dr. Dayo Mobereola.
Edun emphasized that CVFF disbursement remains a priority, as it is expected to drive economic growth, create jobs, and strengthen Nigeria’s maritime position in Africa. Dr. Mobereola added that the Ministry of Marine and Blue Economy considers the disbursement a key performance indicator for 2025.
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To accelerate the process, the Finance Ministry will have a representative in NIMASA’s CVFF committee.
The fund, currently domiciled with the CBN, will be disbursed transparently to benefit contributors and stakeholders while fostering sustainable growth in the maritime sector.
