Headlines

Federal Government set to commence disbursement of CVFF

as NIMASA remits N30billion to federation account in Q1, 2022

— intensifies efforts to exit Nigeria from war risk insurance burden.

The Eyewitness reporter

The coast may have cleared for the disbursement of the controversial Cabotage Vessels Financing Funds (CVFF) by the Federal government.

The Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Dr Bashir Jamoh, pointedly to the bewildered ship owners and other maritime stakeholders that the disbursement of the $350m intervention fund, which has been an object of controversy and subjected to serial delays for about 15 years, may commence by next week.

Speaking at the 53rd sessions of the Presidential Media chat organized by the President Media team, in Abuja Thursday, the NIMASA boss disclosed that 11 Primary Lending Banks(PLBs) have been shortlisted to facilitate the disbursement.

He said the long-anticipated exercise would be kicked off with the inauguration of the special committee by the Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed.

Jamoh bemoaned the absence of indigenous fleets, stating that the disbursement of the funds will not only enhance local shipping business but also assist in creating jobs for the over 2041 Nigerian Seafarers trained by the Agency.

He disclosed that NIMASA has trained about 2041 Seafarers in various institutions overseas, out of which over 800 have gained jobs with shipping companies, globally

“We are unable to retain them here, due to the absence of fleets to provide jobs for them in Nigeria, after their training overseas

“ One vessel can employ up to 40 of them. The shipping business is capital intensive, thus government needs to give helping hands to potential ship owners.

“We need them to feed into our own system if the fleets are available.

The NIMASA DG also disclosed that the agency is working hard to exit Nigeria from the war risk insurance charges imposed by foreign shipping companies.

He said he was confident that this surcharge, which he said was no longer justifiable, would soon be a thing of the past due to the improved safety records at the Gulf of Guinea.

Jamoh stated that efforts are on to ensure that shipments of goods and services to Nigeria from Europe no longer attract “ War risks insurance”

He disclosed that payment of war risks insurance has been going on for 25 years following insecurity in the Gulf of Guinea, but noted that with the recent safety records in the region, ships coming into Nigeria waters don’t need to pay such risks

“ There are three basic insurance charges which include “ War risk insurance, insurance on the valuables in the ship and personnel insurance for workers in the ship”

“These are the three key elements which we ought not to be paying, as they are responsible for a 90% increase in the prices of goods and services imported into Nigeria.

“ They have commended NIMASA for the security recorded in the Gulf of Guinea and we are waiting for the report from the Lloyds of London very soon, we hope to exit this insurance

He further disclosed that security in the Gulf of Guinea had been primarily aided by the deep blue project, adding that “the Gulf of Guinea has recorded zero attacks since the last quarter of 2021 to date

“ We have not experienced any attacks in Nigeria since the last quarter of 2021 to date which was why they have removed us from the piracy list.

Jamoh also disclosed that the agency remitted N30b into the federation account in the first half of 2022,

He stated further that the agency has five vessels and ordered seven new ones.

“Under the deep blue project, the agency acquired 2 specials mission vessels, 3 specials mission helicopters, 16 armoured vehicles that can enter the creeks, 2 special mission aircraft, 17 special interceptors, and four unmanned air surveillance, for data transmission for possible intervention, 600 specially trained forces to respond to threats on the high sea”

Stakeholders, who spoke with our reporter, over the latest promise of disbursement of CVFF, were largely skeptical and said they were not elated by this new promise.

“We have been treated to this type of promise for about 15 years now, so nothing is exciting about it.

”We shall maintain a studied silence and restrained enthusiasm until the government works its talk” one of the disillusioned indigenous ship owners declared.

It could be recalled that the Minister of Transportation, Engr Muazu Sambo, has also promised that the controversial Cabotage funds will be disbursed before his short tenure ends.

He had vowed to break the jinx on the disbursement of the cabotage funds.

”If there is a jinx about the CVFF, I am going to break it by getting it disbursed to deserving Nigerians.

”If these funds are disbursed, the President Muhammadu Buhari administration and the Federal Ministry of Transportation will take credit, while it remains a legacy in your(NIMASA) administration,” the minister had said.

The Cabotage Vessel Financing Fund (CVFF), is an intervention fund created to help the development of indigenous shipping capacity in Nigeria.

It is the two percent deductions from the Cabotage contracts executed by indigenous ship owners.

The disbursement of the CVFF is backed by the provisions of Section 42(1)-(2) of the Cabotage Act 2003, enacted to promote the development of indigenous ship acquisition capacity by providing financial assistance to Nigerian operators in domestic coastal shipping.

Related Topics:featured FG to disburse CVFF

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Customs

KLT Customs reaffirms commitment to stronger maritime stakeholder engagement

Deputy Comptroller Bolaji Adigun

Gloria Odion, Maritime reporter
‎
‎The Acting Customs Area Controller (CAC) of the Kirikiri Lighter Terminal (KLT) Area Command of the Nigeria Customs Service (NCS), Deputy Comptroller Bolaji Adigun, has reaffirmed the Command’s commitment to deepening engagement with stakeholders across the maritime industry in line with efforts to promote trade facilitation, transparency, and sustainable economic growth.
‎
‎Adigun gave the assurance through the Deputy Comptroller in charge of Administration, Comptroller T.A. Jonah, who represented him during a courtesy visit by the newly elected Executive Committee of the Maritime Reporters Association of Nigeria (MARAN) to the Command in Lagos.
‎
‎The Acting CAC, who was unavoidably absent, underscored the importance of sustained collaboration between the Nigeria Customs Service and key industry stakeholders, particularly the maritime media, in advancing the Service’s mandate and supporting national economic development.
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‎He described the media as a critical partner in disseminating information on government policies, customs reforms, trade facilitation initiatives, revenue generation, and anti-smuggling operations.
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‎According to him, maritime journalists occupy a strategic position in shaping public understanding and perception of activities within the port and maritime sector, stressing the need for professionalism, accuracy, and balanced reportage in the discharge of their duties.
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‎Adigun further assured the MARAN delegation that the KLT Area Command would continue to operate an open-door policy while fostering cordial and productive relationships with stakeholders within the maritime community.
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‎Earlier in his remarks, the President of MARAN, Mr. Oluyinka Onigbinde, stated that the visit formed part of the association’s ongoing stakeholder engagement initiative following the inauguration of its newly elected executive committee.
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‎Onigbinde explained that the purpose of the visit was to formally introduce the new leadership of the association to the Command and strengthen the longstanding relationship between MARAN and the Nigeria Customs Service.
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‎He commended the KLT Area Command for its contributions to trade facilitation, revenue generation, and enforcement activities, describing the Command as a vital component of Customs operations within Nigeria’s port system.
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‎The MARAN President also reaffirmed the association’s commitment to professional, objective, and development-driven journalism, noting that maritime reporters play a significant role in promoting informed discourse on issues affecting the industry.
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‎He further assured the Command of MARAN’s continued support for initiatives aimed at enhancing efficiency, transparency, and competitiveness within Nigeria’s maritime sector through responsible and factual reporting.

Headlines

One infant, three adults die, several others sustain injuries in fatal train derailment along Warri- Itakpe route

Funso OLOJO, Editor

The Nigerian Railway Corporation (NRC) has confirmed the death of four passengers in a train derailment along the Warri–Itakpe Train Service (WITS) corridor near Agbor, Delta State on Monday, June 8th, 2026.

Several others suffered various degrees of injuries.

In a statement by the Ministry of Transportation and signed by its Permanent Secretary, Engr. Funsho Adebiyi, the victims included two female adults, one male adult and one infant.

The accident involved four coaches which reportedly capsized while one coach derailed, resulting in the unfortunate loss of four lives.

The statement confirmed that a total of 442 passengers were booked on the train, while 40 crew members, security personnel, and third-party service providers were also on board, bringing the total number of persons on the train to 482.

The NRC had activated immediate rescue and evacuation operations with the support of the Delta State Government, NEMA, FRSC, the Police, Civil Defence, local authorities, security agencies, and other emergency responders, and were completed by 6:30 p.m on Monday .

The Injured passengers were evacuated to medical facilities in Agbor for treatment.

Other notable individuals on board included the Senator representing Delta Central Senatorial District, Senator Ede Dafinone, and former Delta State Secretary to the State Government, Hon. Patrick Ukah, among others.

As of the time of this release, 24 serious injuries have been recorded, while several other passengers sustained varying degrees of injuries and are receiving medical attention.

One NRC staff member suffered a traumatic limb injury and is currently receiving treatment and is reported to be in stable condition.

“The Ministry and the NRC extend their deepest condolences to the families of the deceased and pray for the quick recovery of all those injured.

“The Corporation also appreciates the swift intervention of the Delta State Government, emergency responders, security agencies, the NRC Mechanical Directorate, the Special Rescue and Emergency Team, medical personnel, and members of the public who assisted in the rescue efforts” the statement declared.

The ministry said full onboard manifest has been retrieved and will be made available upon request by the relevant authorities while efforts are ongoing to identify all the injured and deceased persons for proper documentation.

The Ministry in conjunction with the NRC have commenced a full investigation into the cause of the accident while efforts will continue to account for all passengers and provide the necessary support to those affected.

Commentaries

Why Nigeria must prioritize competency development and standards to harness gains of blue economy

Funso OLOJO, Editor

Nigeria is endowed with vast maritime resources which offer enormous opportunities for economic growth, employment generation, food security, and environmental sustainability.

With its fabled over 850 kilometers of coastline, extensive inland waterways, and strategic access to the Gulf of Guinea, the country is naturally blessed to emerge as a hub for maritime activities in Africa.

However , taking advantage of these huge massive maritime opportunities should be the priority of Nigerian government which must be intentional on developing competency level of its Maritime professionals and raise their

adherence to international standards.

The blue economy encompasses diverse sectors including shipping, fisheries, aquaculture, marine tourism, offshore energy, maritime logistics, shipbuilding, and marine environmental management.

These sectors are highly knowledge-driven and require a workforce equipped with specialized skills and globally recognized certifications.

Without competent professionals, Nigeria risks losing economic opportunities to countries with better-trained maritime personnel and stronger institutional frameworks.

Competency development is essential for enhancing productivity, safety, and operational efficiency across the maritime sector.

Skilled seafarers, marine engineers, port operators, logistics professionals, and environmental experts are critical to ensuring that maritime activities meet international best practices.

As global shipping and offshore industries become increasingly technology-driven, continuous training and capacity building are necessary to keep Nigerian professionals competitive in the international labour market.

Skilled maritime professionals such as seafarers, marine engineers and allied personnel in the sector could be sources of foreign exchange earnings for Nigeria as they could be exported to the international community.

Philippines and India are the world’s top exporters of skilled maritime personnel such as seafarers where they get the chunk of their foreign exchange.

If Nigeria could develop such capacity in skilled labourers in the sector and export their expertise, the country could harvest bountifully from such venture.

Equally important is the adoption and enforcement of internationally recognized standards.

Standards provide the framework for quality assurance, safety management, environmental protection, and operational excellence.

Compliance with global maritime standards established by organizations such as the International Maritime Organization(IMO) and the Nautical Institute enhances Nigeria’s credibility as a maritime nation and attracts foreign investment.

Investors and international partners are more likely to engage with institutions and businesses that demonstrate compliance with recognized benchmarks.

That is why the recent certification of the Maritime Centre of Excellence operated by NLNG Shipping and Marine Services Limited by the UK Nautical Institute is germaine to Nigeria’s quest to develop training capacity and build compliance with standard procedures

This feat also underscores the importance of world-class training institutions in building local capacity.

That is why the government should give necessary assistance to training institutions in Nigeria such as Maritime Academy of Nigeria(MAN), Oron and the Maritime Centre of Excellence operated by NLNG Shipping and Marine Services Limited.

Such government patronage and assistance will not only improve the quality of maritime training in Nigeria but also position the country as a regional centre for maritime education and professional development.

Prioritizing competency development and standards will also contribute significantly to maritime safety and environmental sustainability.

Well-trained personnel are better equipped to prevent accidents, manage maritime risks, and respond effectively to emergencies.

Furthermore, adherence to environmental standards helps reduce marine pollution, protect biodiversity, and ensure the sustainable utilization of ocean resources, which are fundamental pillars of the blue economy.

From an economic perspective, a competent workforce and strong standards framework can increase Nigeria’s participation in global maritime trade, create high-value jobs, reduce dependence on foreign expertise, and improve the country’s competitiveness.

It also supports local content development by enabling Nigerian professionals and companies to meet the requirements of international contracts and projects.

In conclusion, competency development and standards are not optional components of Nigeria’s blue economy strategy; they are foundational requirements for its success.

By investing in human capital, strengthening training institutions, and enforcing internationally accepted standards, Nigeria can fully harness the immense potential of its maritime resources and transform the blue economy into a major driver of national development, economic diversification, and sustainable growth.