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Disagreement between Ministers of Transportation, Finance stalls CVFF disbursement

— I am handicapped, Ameachi laments

— We are resolving the technical hitches, Jamoh assures

Eyewitness reporter
The distraught indigenous ship owners, who have gone wary of endless wait for over 17 years for the disbursement of the Cabotage Vessels Financing Funds (CVFFN) that never was, may have to brace for a long wait as the controversial funds will not be disbursed any time soon.
The Minister of Transportation, Rotimi Ameachi, has declared that the Minister of Finance, Mrs Zainab Ahmed, has protested against the presidential approval to disburse the funds.
Speaking to journalists Friday in Lagos at the two-day ministerial retreat for agencies under the Ministry, Ameachi pointedly accused the Minister of Finance of truncating the disbursement of the long-awaited CVFF.
“The President has approved, he said go ahead and disburse. The Attorney-General of the Federation said the law says it is private funds and you can go ahead and disburse.
“But the Minister of Finance protested and said no, the money is a public fund and so cannot be dispensed.
“So what do I do?’ the Minister asked rhetorically.
“I am handicapped”, he confessed.
However, he asked the owners of the funds to take their own destiny into their own hands by protesting to the President through a letter which they should copy him to enable him to go back to Mr President on this case.
“The owners of money should therefore write to the President and copy me and I will then go back to the President.
“The law says the money is not public funds. The Minister of Finance does not have the right to advise that it is public funds.
“Now that the owners of the funds are aware, they should write to say ‘we are aware of the approval and we are also aware of the protest by the Minister of Finance.
“If I have the letter, I will go back to the President” Ameachi reiterated.

Zainab Ahmed, Minister of Finance

However,  the Director-General of the Nigerian Maritime Administration and Safety Agency (NIMASA) tried to mitigate the candour and forthright approach of the Minister to the bureaucratic bottleneck that has dogged the CVFF disbursement.
He acknowledged that there are problems of technicalities over the disbursement of the CVFF which his agency was working to resolve before the funds could be disbursed.
“The Minister said he spent two years to get the approval from the President for the disbursement of the funds.
“But he was made to understand between the Ministry of Finance and NIMASA that approval has been tinkered with.
“There were changes to the approval given by the President and that changes have to do with from where the money has to be disbursed.
“NIMASA was not a party to that”
“The money is presently in the TSA and the directive we were given was to disburse the funds from the commercial banks.
“So when the Minister sought the approval of the President to disburse the funds, the Finance Ministry rejected the option of disbursing the funds through the commercial banks.
“So the approval came in the second time but that the disbursement has to be made from the TSA, that is, the CBN.
“What the  Minister was saying is that the guidelines stipulate that the money should be disbursed through the Primary Lending Institution (PLIs) and the CBN is not a PLI because it is not a commercial bank.
“The approval that came in now says disburse it through the CBN.
“What we are doing now is to find out how we can wriggle ourselves out through the utilisation of the TSA, that is, CBN and without tinkering with the existing laws or the guidelines by the National Assembly which says the funds should come through the commercial banks.

Bashir Jamoh, NIMASA DG

“So what did we do?. We still went ahead, advertised expression of interest.
“11 banks applied. We have sent the names of the 11 banks to the Minister.
“According to the guidelines, the Minister will be the one to select the four PLIs among the 11 banks sent to him.
“In doing so, he has directed me to clear some issues which I have already made clear during my presentation at the retreat.
“These are the things he wanted me to do and by the time am finished with the directive, I will revert to him with the answers.
“From that answers, if the Minister is cleared about them, he would now appoint the four PLIs from the 11 shortlisted banks sent to him.
“With the PLIs approved, NIMASA and stakeholders will sit down and say ok, you PLIs, the money is not with you, but with the CBN.
“How do you involve yourselves (PLIs) with this particular transaction without having the funds in your kitty?
“Or are you(PLIs)  going to talk to the CBN, after selecting successful companies?
“The CBN will then forward the money to the PLIs, that is, if a company succeeds in its application for the funds, the money will not be given to such company directly but go through the PLIs because PLIs have to contribute.
“We still abide by the Federal government directive because we are sending it to the successful companies through the PLIs because we have to recover the money, banks have to recover the money.
“This is where we are going. That is why the Minister said there was a problem with the disbursement of the funds.
“That is the problem.
“There are technical hitches.
“The first approval to the Minister was that he could go ahead and disburse.
“He then came and said ok, let us transfer the money in the TSA from the CBN to the commercial banks.
“But the Ministry of Finance said no and they went to the President and said the money should be disbursed directly from the TSA which is domiciled with the CBN.”, concluded Jamoh.
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NRC grants Lagos Government permanent approval to operate Red Line rail services

Funso OLOJO, Editor

The Nigerian Railway Corporation (NRC) has granted final approval to the Lagos State Government to operate two of its rail tracks under the Track Sharing Agreement, paving the way for the full operation of the Lagos Rail Mass Transit (LRMT) Red Line project.

The LRMT Red Line commenced passenger operations on October 15, 2024, with morning and evening peak-hour services following its inauguration by President Bola Ahmed Tinubu.

The permanent approval follows the temporary operating approval granted by the NRC in 2025 under the Track Sharing Agreement with the Lagos State Government.

Presenting the Permanent Operating Licence to the Lagos Metropolitan Area Transport Authority (LAMATA) on Tuesday, June 30th, 2026, the Managing Director of the Nigerian Railway Corporation, Dr. Kayode Opeifa, said the approval confers on the Lagos State Government all the rights and obligations contained in the Track Sharing Agreement.

According to him, the licence also empowers the state to operate rail services in line with international best practices.

Opeifa described the milestone as a testament to the mutual trust, cooperation and shared vision that have continued to define the partnership between the NRC and the Lagos State Government.

“Beyond providing access to the tracks, our collaboration has also included the training and capacity development of the Red Line’s operational personnel, demonstrating the immense value of strong institutional partnerships,” he said.

He commended the Lagos State Government for its confidence in the NRC and its sustained commitment to the partnership.

“I also commend the Government for its remarkable investment in public transportation, particularly in the rail subsector, including the acquisition of adequate rolling stock to meet the growing mobility needs of Lagosians,” he added.

The NRC Managing Director noted that the development of modern rail infrastructure requires foresight, substantial capital investment and sustained political will, qualities he said the Lagos State Government has consistently demonstrated.

Opeifa also urged other state governments across the federation to invest in rail infrastructure and services to complement the Federal Government’s efforts to strengthen Nigeria’s railway network.

According to him, expanding rail transportation nationwide would ease congestion on highways, reduce logistics costs, improve passenger mobility, stimulate industrial and commercial activities, and accelerate national economic growth.

He stressed that rail transportation remains the backbone of efficient mass transit systems in major cities around the world.

“Continued investment in rail infrastructure is essential to providing safe, reliable, environmentally sustainable and high-capacity mobility for our growing population, while significantly reducing pressure on our road network,” he said.

Opeifa reaffirmed the NRC’s commitment to fostering productive partnerships that will transform Nigeria’s transport landscape.

“Together, we will continue to build an integrated, efficient, safe and sustainable railway system that serves the aspirations of all Nigerians,” he concluded.

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NPA unveils multi-agency task force to tackle resurgent port access gridlock

Funso OLOJO, Editor

The Nigerian Ports Authority (NPA) has launched a multi-agency task force to combat the resurgence of traffic gridlock choking the Lagos port access roads, in a fresh push to restore seamless cargo evacuation and sustain recent gains in port efficiency.

The intervention followed a stakeholders’ meeting convened by the Managing Director of the NPA, Dr. Abubakar Dantsoho, on June 23rd, 2026, where security agencies, freight forwarders, truck operators and representatives of the Lagos State Government agreed on coordinated measures to eliminate the bottlenecks disrupting cargo movement.

At the meeting, stakeholders identified illegal extortion points, overlapping responsibilities among security agencies and other operational distortions as major factors responsible for the renewed congestion along the port corridor.

Speaking on the outcome of the meeting, the NPA’s General Manager, Corporate and Strategic Communications, Mr. Ikechukwu Onyemakara, said the Authority’s overriding priority is to guarantee the unhindered movement of cargo to and from the nation’s seaports.

According to him, the task force comprises the NPA, the Police, the National Association of Government Approved Freight Forwarders (NAGAFF), the Association of Nigerian Licensed Customs Agents (ANLCA), the Federal Road Safety Corps (FRSC), the Maritime Workers Union of Nigeria (MWUN), the Nigerian Association of Road Transport Owners (NARTO) and the Association of Maritime Truck Owners (AMATO).

“The responsibility of the task force is to monitor truck movement on the port access roads on a regular basis, identify any disruption capable of causing gridlock and immediately resolve such challenges,” Onyemakara said.

He stressed that members of the task force would not establish checkpoints along the corridor but would maintain strategic presence at designated locations to ensure compliance without obstructing traffic.

To enhance rapid response, Onyemakara disclosed that the task force has created a dedicated WhatsApp platform through which members can instantly report infractions or emerging traffic issues for immediate intervention.

On the long-delayed renewal of the Electronic Truck Call-Up (ETO) system contract, the NPA spokesman said the Authority is reviewing the terms to ensure a more robust contractual framework before awarding a fresh agreement.

He explained that although the previous contract had expired, the ETO platform remains operational under the management of the Truck Transit Parks (TTP) pending completion of the procurement process.

He expressed confidence that the renewal would be concluded soon.

Reaffirming the Authority’s commitment to maintaining free-flowing port access roads, Onyemakara said efficient logistics remain central to the NPA’s drive to improve Nigeria’s port competitiveness and preserve its growing international reputation.

“We are more interested in the free flow of logistics into our ports than anyone else because it is in our own interest,” he said.

“If you look at the international recognition we are receiving, including the World Bank report, we are determined to sustain and even surpass the improvements already recorded in our port system.
“You can be assured that we remain fully committed to achieving the best possible performance from our ports.”

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Customs Steps Up Nationwide Green Tax Awareness Ahead of July 1 Rollout

Funso OLOJO, Editor

The Nigeria Customs Service (NCS) has intensified its nationwide sensitisation campaign ahead of the July 1, 2026 implementation of the Green Tax Surcharge and related fiscal adjustments, aimed at promoting environmental sustainability and encouraging the importation of cleaner vehicles.

The awareness campaign, held on Friday July 26th, 2026 at the Apapa Area Command, brought together Customs officers, licensed customs agents, freight forwarders, importers and other key stakeholders under the theme: “Implementation of the Green Tax Surcharge and Related Fiscal Adjustments.”

Representing the Comptroller-General of Customs, Adewale Adeniyi, the Zonal Coordinator, Zone A, Mohammed Babadende, said the exercise was designed to ensure stakeholders fully understand the policy before its implementation.

“This sensitisation is designed to ensure that every stakeholder clearly understands the policy before implementation. Our objective is to eliminate uncertainty, promote voluntary compliance and guarantee uniform application of the Green Tax Surcharge across all commands,” Babadende stated.

Delivering a technical presentation, the Comptroller in charge of Tariff, System Audit and Coordination, Murtala Muazu, explained that the Green Tax Surcharge is different from conventional fiscal measures and would therefore require a separate assessment process.

He disclosed that the Service has simplified implementation through the HS Code declaration platform to facilitate seamless compliance by importers and clearing agents.

Muazu also revealed that the Federal Government has reduced import levies on vehicles from 20 per cent to 10 per cent, while import duty on used vehicles has been slashed from 15 per cent to five per cent to cushion the impact of the new environmental surcharge.

Area Controllers who participated in the sensitisation urged importers, licensed customs agents and the trading public to embrace the initiative, stressing that the reduction in import levies would lower the cost of doing business, promote legitimate trade and ultimately reduce transportation costs.

Stakeholders welcomed the policy but called for sustained public enlightenment to deepen understanding and ensure seamless compliance ahead of the July 1 commencement date.

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