Headlines

NIMASA, banks disagree over interest rates on CVFF loans, opens discussion with NNPC Shipping.

––invites Afrexim bank, AfDB, American Express Bank.

–– promises fresh disbursement date.

The Eyewitness Reporter

The disagreement between the Nigerian Maritime Administration and Safety Agency (NIMASA) and the five Primary Lending Institutions( PLIs) selected as vehicles for the disbursement of the controversial Cabotage Vessels Financing Funds( CVFF) may have contributed to the continued delay in releasing the funds to the beneficiaries.

It could be recalled that the former administration of President Mohammudu Buhari, had approved five banks, namely, Zenith, Polaris, Jaiz, Union and UBA as the Primary Lending Institutions(PLIs) to drive the disbursement of the funds.

But the process was stalled, after painstaking preparations for the disbursement, following the disagreement between NIMASA, the custodian of the funds and the banks on the interest rate chargeable on the loans.

According to Dr. Bashir Jamoh, the Director General of NIMASA, the five PLIs insisted on collecting 7.5 percent interest from the beneficiaries while NIMASA insisted on a 6.7 percent interest rate.

The uncompromising stand of the two parties has led to the delay in the disbursement of the funds.

Dr. Jamoh, who was speaking Tuesday, January 23rd, 2024 during the visit of the Managing Director of NNPC Shipping, Mr Panos Gliatis, disclosed that three new banks have shown interest in the disbursement process.

Even though, he did not disclose the level of involvement of the new banks neither did he mention at what rate they are willing to disburse, he however gave a tentative six-month take off of the disbursement.

According to him, Afrexim Bank, African Development Bank, and American Express Bank have all agreed to offer assistance towards the disbursement of the funds.

It could be recalled that the disbursement of the fund rests on a tripartite contributory quota.

NIMASA is expected to contribute 50 percent, the Primary Lending Institutions (PLIs) will contribute 35 percent and the beneficiaries are expected to contribute 15 percent.

However, Dr. Jamoh said there is renewed hope for the disbursement of the funds with the discussion currently going on with the NNPC Shipping.

He explained that NIMASA and NNPC Shipping have agreed to open discussion on reviving the stalled disbursement.

While briefing the new helmsman of the Organization, Mr Gliatis, Dr Jamoh expressed hope that the new MD will continue from where his predecessor stopped on the matter of CVFF.

Jamoh recalled the contributions of the NNPC Shipping towards the success of the CVFF which he described as a milestone in the disbursement of the fund.

According to him, the organization has promised to provide cargo for the beneficiary indigenous ship owners because according to him, acquiring a vessel will be useless without access to cargo.

Also, NNPC Shipping has decided to contribute nine percent of the 15 percent contribution of the indigenous beneficiary while he takes the remaining six percent in a bid to share the risks.

Jamoh further disclosed that with the commitment of NNPC Shipping and the buy-in of the new man at the helm of affairs of the company, he expressed hope that the six-month timeline for the disbursement of the fund is achievable.

The MD of NNPC Shipping, Panos Gliatis said the organisation is committed to the success of the CVFF and promised to work towards its sustainability.

”We shall work diligently towards the success of the project”, he enthuased.

NIMASA DG however warned that the timeline was not sacrosanct as its realization is dependent on the exigency of the prevailing situation and subject to the pleasure of the Minister of Marine and Blue Economy, Adegboyega Oyetola.

” We proposed six six-month timeline for the commencement of the disbursement of the CVFF but that date is not sacrosanct.

“I am not promising, it is just a proposal because it is only the Minister who has the power to give a definitive date.

” NIMASA is just an agency under the supervision of the minister, we merely carry out his orders.

“We need to brief and convince him on this matter” he declared.

Jamoh however expressed optimism about the interest of the minister on the disbursement of the funds as a result of his warning that the CVFF should not go the way of the Anchor Borrower Fund of the Central Bank of Nigeria(CBN).

” The Minister has warned that CVFF should not become another Anchor BorrowerFund” Jamoh stated.

He further disclosed that the proposed Maritime Bank is another avenue to further assist indigenous ship owners.

According to him, preparations have reached an advanced stage for the takeoff of the Bank.

“NIMASA’s Abuja office has been mandated to provide office accommodation for the bank by dedicating a whole floor to the Bank” Jamoh disclosed.

Headlines

Tantita intercepts stolen crude on escort of Delta Marine Police, arrests four suspects

Funso OLOJO

Tantita Security Services Limited, a pipeline surveillance operations company, has intercepted a tanker vessel, MT Thor, laden with suspected stolen crude oil.

The interception, which occurred on December 15th, 2025, around the Koko–Excravos axis of Delta State, happened while the vessel was allegedly being escorted by personnel of the Police Marine Unit, Delta State, who reportedly claimed they were acting on directives from the Force Intelligence Department (FID), Abuja.

Four suspects have been apprehended in connection with the incident and are currently facing investigation for possible prosecution.

The arrest was announced during the handover of the suspects at Koko Port in Delta State by Tantita Security Services Limited (TSSNL), a firm engaged in pipeline surveillance operations.

Speaking at the handover of the vessel and the suspects at Koko Port, Delta state, the Executive Director of Operations at Tantita, Captain Warredi Enisouh, said the suspects were apprehended with an unspecified quantity of suspected illegally sourced petroleum products aboard the vessel.

According to a situation report made available by the Special Prosecution Team (SPT) of the Inter-Agency Task Force on Petroleum Product Theft, Tantita alerted the Head of Investigation of the SPT after intercepting MT Thor, which was allegedly laden with crude oil obtained through illicit means.

Preliminary investigations by law enforcement agencies revealed that the vessel, now classified as an exhibit in an ongoing criminal investigation, is linked to a jetty operated by Ebenco Global Services Limited.

Investigation officers disclosed that documents and correspondence connected to the jetty were obtained and are currently under review.

“The owner of the jetty, Mr. Ebenezer, was contacted by investigators and reportedly provided additional documents, including court orders, which are also being analysed as part of the investigation.

“On December 16, a joint investigation team led by the Head of Investigation of the SPT conducted a Joint Inspection Visit in Koko.

The team first met at Tantita’s corporate headquarters in Warri for a briefing, which was also attended by the jetty owner.

“During the inspection, investigators attempted to obtain samples from MT Thor but were unable to do so immediately as the vessel had not yet arrived at the jetty, having been towed from an earlier location by security operatives.

“While awaiting the vessel’s arrival, the team inspected other containers suspected to be carrying crude oil within the premises of Ebenco Global Links Limited, where samples were taken from a storage barge.

“MT Thor eventually berthed at about 8:30 p.m. on 16 December, prompting the joint team to adjourn sampling and other procedures until the following day.

As of 17 December 2025, investigators were reported to be en route to Koko to continue sample collection and complete investigation formalities,” the report read.

Receiving the suspects, the Head of the Special Prosecution Team of the Inter-Agency Task Force, Omar Sini, reaffirmed the Federal Government’s resolve to dismantle crude oil theft networks in the Niger Delta, assuring that all findings would be thoroughly examined and prosecuted in line with the law.

Headlines

Mobereola, NIMASA DG, reflects on year 2025 with satisfaction, says 2026 holds promising opportunities for maritime industry

Funso OLOJO

The Director -General of the Nigerian Maritime Administration and Safety Agency (NIMASA) Dr. Dayo Mobereola, has expressed his satisfaction over the achievements recorded in the maritime industry in the outgoing year of 2025, while looking forward to a promising 2026 with hope.

In his Christmas message to the stakeholders in the maritime industry, Dr Mobereola noted that the 2026 ended well with the election of Nigeria into the category C of the International Maritime Organization (IMO) after 14 years of failed attempts as well as zero occurrence of piracy attacks on Nigeria’ waters.

“The year 2025 has been a good one for our industry as once again, we have not recorded a single piracy attack in our waters in a whole calendar year, Nigeria was also able to deposit three Instruments of Accession to IMO Conventions that were signed by President Bola Tinubu ,we have been able to maintain industrial harmony in the sector all of which culminated to Nigeria’s election into the category C Council of the International Maritime Organization.

“We couldn’t have done this without our stakeholders who have contributed in various ways in the course of their operations during the year. We see you, we thank you and we felicitate with your during this yuletide season”Mobereola observed.

He however assured that the Agency will re-double efforts in ensuring that 2026 is even better for every stakeholder.

While calling on industry operators to brace up for the new year with hope of better times, Dr. Mobereola noted that “at NIMASA, we appreciate the weight of our renewed responsibility by virtue of Nigeria’s membership of the IMO Council because to whom much is given, much is definitely expected.

” You can therefore be sure of an increased momentum in our resolve to sustain maritime safety, security, environmental protection and adherence to relevant conventions and protocols with renewed vigour.”

The DG concluded by acknowledging the support of President Bola Ahmed Tinubu, Adegboyega Oyetola, Minister of Marine and Blue Economy, industry stakeholders, management and staff of NIMASA as well as all Nigerians and wished everyone a Merry Christmas and a prosperous New Year.

Headlines

FG trains 75 boat operators on safe inland waterway navigation

Funso OLOJO

The Federal Ministry of Marine and Blue Economy, in collaboration with the National Inland Waterways Authority (NIWA), has concluded a three-day Boat Navigation and Safety Training for 75 boat drivers and skippers, as part of efforts to improve safety and professionalism on Nigeria’s inland waterways.

The training, which ran from Monday, 22, December, 2025 to Wednesday, 24 December, 2025 focused on equipping participants with the practical knowledge and operational competence required for the issuance of the Certificate in Safe Boating and Navigation.

Participants were drawn from major boating associations, including the Maritime Workers Union, the Association of Tourist Boat Operators and Water Transporters of Nigeria (ATBOWATAN), and the Waterfront Boat Owners and Transporters Association of Nigeria (WABOTAN).

Boat operators from Lagos, Ogun and Ondo states took part in the programme.

Speaking at the closing ceremony, Timothy Clement of the NIWA Lagos Area Office described the training as a significant intervention aimed at reducing accidents on inland waterways.

He noted that many previous boat mishaps were caused by limited technical knowledge and insufficient experience among operators, adding that sustained capacity-building would help address the challenge.

Clement also highlighted ongoing safety measures being implemented by NIWA, including the removal of wrecks to improve navigation and continuous sensitisation of boat operators along major routes such as CMS, Ikorodu, Badore, Badagry and Port Novo.

According to him, NIWA has intensified awareness campaigns, moving from jetty to jetty to educate operators on safe practices, while encouraging boat owners to release more skippers and captains for structured training programmes.

“So far, so good. We thank God for the success of this three-day training for boat skippers.

“Participants came from Lagos and other parts of Nigeria, and over the past three days, they have learned a great deal,” Clement said.

“This year alone, NIWA conducted sensitisation exercises two to three times across different jetties.

“We are encouraging operators to make more of their captains and skippers available for this kind of training.

” I believe that by this time next year, we will have even more reasons to celebrate improved safety on our waterways,” he added.

Also speaking, the Lead Trainer and Consultant, Dr. Sileola Akinbowale, described the programme as a life-saving initiative designed to strengthen manpower capacity and reduce waterway accidents.

She explained that the training was structured to ensure boat operators are properly equipped with both theoretical knowledge and hands-on skills required to operate safely and efficiently.

Akinbowale commended the Federal Government, the Minister of Marine and Blue Economy, Adegboyega Oyetola, and the former Managing Director of NIWA, Bola Oyebamiji, for prioritising safety and capacity development in the sector.

Assessing the programme, she rated it about 90 per cent successful, noting that it combined classroom sessions with practical exercises on the water.

“We did not limit the training to classroom lectures. Participants were taken out for practical sessions at the jetty, which made the programme very effective. It was an all-inclusive training, not just theory,” she said.

She assured that the initiative would be sustained, stressing that continuous capacity enhancement remains critical to saving lives and improving professionalism on inland waterways.

Participants expressed satisfaction with the training, describing it as timely and impactful.

A Lagos-based boat operator, Wasiu Olalekan, said the programme had strengthened participants’ ability to respond to emergencies and distress situations.

“With this training, we now know how to handle distress situations on the waterways because of the knowledge given to us. On behalf of the Lagos State participants, we appreciate the Minister and NIWA management for this opportunity,” he said.

Another participant from Ondo State, Biobaku John, said the training exposed him to critical safety and emergency response skills that would enhance his professionalism.

“I gained important safety and firefighting skills during these three days. As a boat driver, I learned a lot and I am proud to have participated,” he said.

Similarly, the leader of the Ogun State delegation, Pami Ronald, said participants were trained in boat handling, safety procedures, first aid, emergency response, engine maintenance and effective waterway transport management.

“For the past three days, we learned extensively about safety, first aid, how to raise alarms, call for rescue teams and even engine maintenance. The training was very educative,” he said.

The programme forms part of ongoing efforts by the Ministry of Marine and Blue Economy and NIWA, in line with recommendations from investigation reports under the tenure of former NIWA Managing Director, Bola Oyebamiji, to improve safety standards, professionalism and confidence among inland waterway operators nationwide.