— as only one of 20 applications forwarded to PLIs awaits final approval

Funso OLOJO, Editor

The Minister of Marine and Blue Economy, Adegboyega Oyetola, has expressed displeasure over the slow pace of processing applications for the disbursement of the long-awaited Cabotage Vessel Financing Fund (CVFF).

Oyetola consequently directed the Nigerian Maritime Administration and Safety Agency (NIMASA) to urgently accelerate the process and ensure that indigenous shipowners, who have waited for more than two decades to access the fund, are not subjected to another round of bureaucratic delays.

The Minister’s concern was heightened by the revelation that, since the CVFF application portal was launched in January 2026, only 20 of the 92 applications received by NIMASA had been processed and forwarded to the Primary Lending Institutions (PLIs) for further assessment.

More troubling, according to the Minister, is that only one of the 20 applications forwarded to the PLIs has so far been returned to NIMASA for final approval.

Oyetola, apparently dissatisfied with the snail-paced progress, chided NIMASA and directed the agency to work more closely with the 12 PLIs to fast-track the process and ensure that indigenous shipowners get access to the much-needed financing to strengthen and expand their operations.

The Minister said the directive underscored the Federal Government’s determination to end the more than two decades of delays surrounding the CVFF and unlock a new era of investment, growth and employment in Nigeria’s maritime sector.

The push for the operationalisation of the CVFF marks a major step in the Federal Government’s efforts to deepen indigenous participation in Nigeria’s maritime industry and build the capacity of local shipowners to compete more effectively in the coastal and offshore shipping markets.

In April 2025, Oyetola directed NIMASA to commence the process for the long-awaited disbursement of the fund, signalling what was expected to be a decisive break from years of administrative stagnation and a new effort to reposition Nigeria’s indigenous shipping capacity.

The process gained further momentum with the launch of the CVFF Application Portal in Lagos on January 22, 2026.

The portal was designed to provide a more transparent and structured mechanism through which eligible Nigerian shipowners could apply for financing, while helping to institutionalise access to maritime finance.

As part of efforts to speed up the disbursement process, Oyetola also expanded the number of PLIs from five to 12.

The CVFF, which has accumulated for more than two decades without being accessed by Nigerian shipowners, is expected to provide low-interest, long-term financing for the acquisition of modern vessels and the expansion and renewal of indigenous fleets.

The initiative is also expected to enhance the capacity of Nigerian shipowners to compete for lucrative coastal and offshore contracts, reduce the country’s dependence on foreign vessel operators and retain a greater share of maritime earnings within the Nigerian economy.

Oyetola said the fund has the potential to generate more than 30,000 direct and indirect jobs across shipyards, marine engineering firms, maritime logistics companies and other segments of the maritime value chain.

He said the initiative would also strengthen Nigeria’s domestic ship-owning and shipbuilding ecosystem by improving access to long-term capital for indigenous operators.

According to the Minister, the Federal Government’s decision to commence the disbursement of the CVFF followed President Bola Ahmed Tinubu’s authorisation to address the long-standing financing challenges confronting domestic maritime operators and unlock the economic potential of the blue economy.

Seafarers development

Beyond vessel financing, Oyetola said the Federal Government was also investing heavily in the development of Nigerian seafarers through expanded training, certification and welfare initiatives being implemented by the Ministry and NIMASA.

He disclosed that 222 seafarers had been trained free of charge in basic and advanced professional courses, while 333 cadets had completed their academic training and obtained degrees.

Under the Nigerian Seafarers Development Programme (NSDP), he said 135 cadets had successfully completed the programme and obtained their Certificates of Competency (CoC).

The Minister further disclosed that 7,059 Nigerian seafarers had been placed onboard vessels to acquire the mandatory sea-time experience required for professional advancement.

He said the interventions formed part of the Federal Government’s broader strategy to build a competitive maritime workforce, strengthen indigenous capacity and ensure that Nigerians benefit directly from the opportunities being created by the country’s emerging blue economy.

Funso OLOJO Editor 

The Lagos State Government, through the Lagos State Security Trust Fund (LSSTF), has donated two operational vehicles to the Nigerian Railway Corporation (NRC) to strengthen security operations and enhance the protection of railway infrastructure and other critical national assets.

The vehicles were formally handed over to the Managing Director/Chief Executive Officer of the NRC, Dr. Kayode Opeifa, at the Mobolaji Johnson Train Station, Ebute Metta, Lagos.

Presenting the vehicles, the Executive Secretary/CEO of the LSSTF, Dr. Ayodele Ogunsan, said the intervention was part of the state government’s continued support for security agencies and institutions operating within Lagos.

Ogunsan, who was accompanied by the Administrative Secretary of the Fund, Mr. Demola Lewis, said the vehicles would enhance the capacity of security personnel attached to the railway to respond promptly to vandalism, theft and other criminal activities along the railway corridor.

He commended the ongoing transformation at the NRC under Opeifa’s leadership, saying the state government considered it necessary to provide additional support to safeguard railway infrastructure and improve operational effectiveness.

The LSSTF chief urged the Nigeria Police Railway Command and the Nigeria Security and Civil Defence Corps (NSCDC), which are expected to deploy the vehicles for railway security operations, to ensure their judicious use.

He said the Fund had a monitoring mechanism to ensure that security assets provided through its interventions were deployed strictly for the purposes for which they were donated.

According to Ogunsan, responsible utilisation of the vehicles would encourage the state government and the Fund to provide additional support whenever necessary.

Responding, Opeifa expressed appreciation to the Lagos State Government, particularly Governor Babajide Olusola Sanwo-Olu, for its continued support for the NRC and its efforts to improve railway security and operations.

He also commended the leadership and staff of the LSSTF for their commitment, partnership and sustained support towards the safety and security of the railway system in Lagos.

Opeifa said the donation would significantly strengthen the capacity of security agencies attached to the railway to protect passengers, railway infrastructure and other critical assets.

He assured the Lagos State Government and the LSSTF that the vehicles would be deployed strictly for the purposes for which they were donated.

The NRC Managing Director also appealed to other state governments, particularly the 26 states where the Corporation has operational presence, to support efforts to protect railway infrastructure.

He stressed that stronger collaboration between the NRC, state governments and security agencies would facilitate faster responses to vandalism and other criminal activities affecting railway assets.

Opeifa also made a personal donation to the LSSTF and called on NRC employees, corporate organisations and residents of Lagos to continue supporting the Fund’s efforts to enhance security across the state.

Beyond the provision of the vehicles, he disclosed that the Lagos State Government had expressed readiness to rehabilitate some roads within the railway compound and install solar-powered streetlights after the completion of the ongoing works.

He further disclosed that work was ongoing on a major storm-water drainage project designed to channel water from the railway compound towards the Mile 2 lagoon.

According to him, the drainage project, which commenced earlier in the year, has significantly improved the environment around the railway compound and helped address the perennial flooding previously experienced during heavy rainfall.

Police, NSCDC pledge responsible use
Speaking on behalf of the security agencies, the representative of the Commissioner of Police, Nigeria Police Railway Command, Deputy Commissioner of Police (DCP) Yahaya Usman, thanked the Lagos State Government and the LSSTF for the donation to the Nigeria Police Force and the NSCDC.

He assured that the vehicles would be deployed strictly for railway security operations and used responsibly to strengthen surveillance, patrol and rapid-response capabilities along the railway corridor.

The intervention further underscores the growing partnership between the NRC and the Lagos State Government in promoting safer railway operations, protecting critical infrastructure and improving the security of passengers and communities along the railway network.

Funso OLOJO, Editor

The Federal Operations Unit (FOU), Zone A of the Nigeria Customs Service (NCS), has intercepted illicit drugs and other prohibited substances with a combined duty-paid value of N3.951 billion along trans-border routes within its area of operations.

The seizures, which included thousands of parcels of cannabis, tramadol tablets, codeine syrup and crystal methamphetamine, were handed over to the National Drug Law Enforcement Agency (NDLEA) for further investigation and prosecution.

The Unit also seized four cylinders of high-grade mercury, weighing 34.5kg each, allegedly intended for use in illegal gold mining.

The mercury was subsequently handed over to the National Environmental Standards and Regulations Enforcement Agency (NESREA).

Addressing journalists at the Unit’s headquarters in Lagos on Thursday, September 3rd, 2026, the Controller of FOU Zone A, Comptroller Gambo Aliu, said the seizures were the outcome of intelligence-driven operations and sustained surveillance along the nation’s trans-border routes.

Among the narcotics seized were 5,669 parcels and 19 sacks of synthetic cannabis sativa weighing 3,116.9kg; three-and-a-half packs of ground cannabis (Skunk) weighing 3.45kg; two packs of granulated cannabis (Skunk) weighing 1kg; and 11 small packs of granulated cannabis weighing 0.35kg.

Others were 24 packets of Backwoods Russian Cream cigars weighing 0.5kg; 49 wraps of cannabis (Skunk) weighing 26.1kg; and one wrap of crystal methamphetamine weighing 0.35kg.

The Unit also intercepted 1,754 packs and 6,948 sachets of tramadol tablets in 225mg and 100mg variants, 1,200 Hypnox tablets of 1mg each, and 97 bottles of codeine syrup.

Comptroller Aliu said the latest enforcement operation was deliberately targeted at drug-trafficking syndicates operating within the Unit’s jurisdiction, stressing that the illicit movement of narcotics and other dangerous substances posed grave threats to public health, national security and the future of Nigerian youths.

He described the handover of the seized items to the relevant agencies as evidence of the growing operational synergy among government agencies in the fight against trans-border crime.

“Today’s event is a practical demonstration of the commitment of the Nigeria Customs Service to national security, public health, environmental safety and the economic well-being of Nigerians.

“It also reflects the importance of strategic partnership in the fight against smuggling and other forms of trans-border crime,” Aliu said.

According to him, the Customs Service would continue to strengthen the integrity of the nation’s supply chain while supporting the NDLEA in disrupting the movement of narcotics and other illicit goods across Nigeria’s borders.

“We are equally committed to providing relevant information and supporting further investigation whenever necessary,” he added.

Aliu explained that the formal transfer of the narcotics to the NDLEA would enable the agency to undertake the necessary forensic, investigative and prosecutorial processes in accordance with the law.

He added that the procedure would also ensure that the seized drugs were handled, stored and disposed of securely and professionally.

On the mercury seizure, the FOU Controller said its transfer to NESREA would enable the agency to take appropriate regulatory and environmental action, particularly given the use of mercury in illegal mining activities.

While assuring Nigerians that the crackdown on illicit traders and trans-border criminal networks would continue, Aliu said the Unit would simultaneously facilitate legitimate trade and sustain collaboration with sister agencies.

“I wish to commend the leadership and personnel of the NDLEA and NESREA for their cooperation and professionalism.

“I also appreciate the support of all sister security and regulatory agencies whose contributions continue to strengthen our collective efforts,” he said.

Aliu warned smugglers and criminal networks that the FOU Zone A would not relent in its enforcement responsibilities.

“Let me reiterate that the Federal Operations Unit will not relent in its responsibilities. We will continue to deploy intelligence-driven strategies, enhanced surveillance, effective patrols and robust enforcement operations to disrupt the activities of smugglers and criminal networks,” he declared.