Headlines

Oyetola reiterates call for phase- out of wooden boats

– as he mourns victims of Sokoto boat mishaps

Funso Olojo

The Minister of Marine and Blue Economy, Adegboyega Oyetola, has called on State Governments to complement the Federal government efforts on safety and security of lives on the nation’s waterways by investing in fibre, aluminum modern boats that can withstand the rigours of water transport.

Oyetola made the call while commiserating with the victims and families of the recent boat accident in Shagari Local Government Area of Sokoto State.

The Minister described the tragedy as deeply painful and extended heartfelt condolences on behalf of the Federal Government to all those affected.

He expressed sadness over the recurring loss of lives on Nigeria’s waterways, stressing that the fatalities are both painful and avoidable.

The Minister reaffirmed the commitment of the Federal Government to prioritising waterways safety, while appealing to State governments to urgently complement these efforts by investing in modern, non-wooden boats for commercial operations in their states.

Oyetola noted that, despite the Ministry’s recent interventions, including the nationwide distribution of 3,500 life jackets to each riverine State, incidents of boat mishaps have persisted largely due to the widespread use of wooden boats.

According to him, the structural weaknesses of wooden boats make them unsafe for modern commercial operations.

He further explained that wooden boats cannot withstand the scale of haulage they are now subjected to, especially under conditions of overloading, thereby making them even more prone to accidents.

“The time has come for a decisive break from outdated practices. Wooden boats have served their time, but they cannot be the future of water transport in Nigeria.

*The tragic mishaps we continue to witness are a direct consequence of the continued reliance on unsafe vessels.

” We must now chart a safer course for our people,” Oyetola declared.

He emphasised that fibre and aluminium boats, being sturdier, safer, and more durable, represent the global standard for inland and coastal waterway transport.

Oyetola called on State governments, particularly those with large riverine populations, to urgently invest in these modern boats, describing such investments as both life-saving and economically strategic.

“Our Ministry has mandated the compulsory use of life jackets, and we have supplied them in thousands to riverine States.

“But life jackets alone cannot guarantee safety without safe boats. I therefore appeal to our State governments to complement the Federal Government’s efforts by deliberately investing in fibre and aluminium boats.

“This is the seed we must sow today to secure a safer, more prosperous tomorrow,” the Minister said.

Oyetola stressed that water transport holds immense promise for easing pressure on Nigeria’s roads, boosting commerce, and unlocking the vast potential of the blue economy.

However, he warned that unless wooden boats and substandard vessels are phased out, the nation risks undermining public confidence in waterways as a safe and reliable mode of transport.

“The blue economy is one of the great frontiers of Nigeria’s growth. For it to thrive, Nigerians must be assured of safety on our waters.

” The Federal Government cannot achieve this alone. It requires partnership and investment from our State governments.

“The safety of our people must be our collective priority,” he said.

The Ministry assured Nigerians that it remains resolute in its commitment to improving waterways safety through stronger regulation, compliance enforcement, and collaboration with States, private investors, and boat manufacturers.

“Every life lost on our waterways is one too many. The time for action is now.

” Together, let us consign wooden boats to history and embrace the standard that guarantees safety, confidence, and prosperity for our riverine communities and the nation at large,” the Minister added.

Headlines

Mustapha Mohammed leads NANTA delegation to WTM London as NTDA stages comeback

Mustapha Mohammed

Funso OLOJO, Editor

Nigeria’s organised private tourism sector is taking the lead in restoring the country’s presence on the global tourism stage as the National Association of Nigeria Travel Agencies (NANTA) prepares to showcase the country’s tourism potential at the 2026 World Travel Market (WTM) in London.

The three-day international tourism exhibition, scheduled for November 3 to 5, will see NANTA lead a delegation of Nigerian tourism stakeholders, with the Nigerian Tourism Development Authority (NTDA) also expected to participate, marking Nigeria’s return to the global marketplace after missing last year’s edition.

The renewed participation is particularly significant against the backdrop of Nigeria’s inconsistent presence at the annual exhibition since 2013, following the departure of Otunba Segun Runsewe from the then Nigerian Tourism Development Corporation (NTDC), now NTDA.

The absence of a sustained government-backed presence at the event has, over the years, raised concerns about Nigeria’s visibility, destination marketing and competitiveness in the international tourism market.

In response, NANTA stepped in to sustain the country’s participation, mobilising its members and privately sourced resources to secure Nigeria’s presence at WTM London for three consecutive years between 2022 and 2024, without government funding.

The association subsequently handed over the responsibility to the Federal Government through the then Ministry of Tourism and its relevant agency at a ceremony during the 2024 edition of the exhibition, in the hope of ensuring a more sustainable national participation.

This year’s outing will be led by NANTA’s First Deputy President, Mustapha Mohammed, who is heading a high-powered delegation to London in what represents his first international assignment since his election into the association’s leadership.

Mohammed is representing NANTA President, Dr Yinka Folami, who is currently engaged in another assignment on behalf of the association.

Speaking from London ahead of the exhibition, Mohammed expressed excitement about leading the delegation, commending NANTA members for their commitment and sacrifices towards promoting Nigeria’s tourism industry.

“I feel privileged to lead this great association to the London travel market and, most interestingly, to inspire again the return of Nigeria to the global tourism and travel trade market.

“We are proud to be the only association with a dedicated stand at WTM London, and I must thank our president, Dr Yinka Folami, for making this happen.

“As usual, we expect the teeming numbers of NANTA members to be here to make Nigeria proud. We understand NTDA will be here, and together, Nigeria’s tourism flag will fly again,” he said.

Meanwhile, NANTA’s immediate past president, Susan Akporiaye, has arrived in London ahead of the exhibition. She is reportedly coordinating efforts to facilitate the Federal Government’s participation through the NTDA and ensure a smooth national outing.

Her involvement reflects her continued engagement with the industry’s international promotion efforts, particularly the drive to ensure that Nigeria’s representation at global tourism exhibitions is coordinated by experienced industry stakeholders.

Also expected at WTM London is the Chairman of the Nigeria Tourism Sector Skills Council and immediate past President of the Federation of Tourism Associations of Nigeria (FTAN), Nkereweum Onung.

Onung, who also serves as Honorary Senior Special Adviser on Culture and Tourism to Akwa Ibom State Governor, Pastor Umo Eno, is expected to use the international platform to promote Nigeria’s tourism opportunities and strengthen engagement with global industry players.

He is also expected to unveil a new tourism marketing company, Experience Ibom, later in the year as part of efforts to market Akwa Ibom State as a destination for domestic and international tourists.

The initiative is expected to complement Governor Eno’s tourism development agenda, which includes investments in tourism infrastructure and efforts to position the state as an attractive destination for visitors.

For Nigeria, the return to WTM London presents an opportunity to rebuild international tourism relationships, attract destination-marketing partnerships and draw investment into the country’s largely untapped tourism assets.

Beyond the international attention generated by Afrobeats and Nigeria’s rich culinary heritage, particularly its globally celebrated Jollof rice, stakeholders believe the exhibition offers an avenue to translate the country’s cultural appeal into concrete tourism opportunities.

With NANTA providing a strong private-sector presence, the anticipated participation of the NTDA and the involvement of other industry stakeholders, the focus will be on converting Nigeria’s renewed visibility into business partnerships, investment commitments and increased international visitor arrivals.

Commentaries

The CVFF Controversy: Why war of words won’t buy Nigerian ships

Monday Discourse with Ibrahim Nasiru

The ongoing conversation regarding the disbursement of the Cabotage Vessel Financing Fund (CVFF) to indigenous shipping owners has taken a dramatic and highly confusing turn.

For over twenty years, local shipowners have looked forward to this fund as the critical lifeline that would finally allow Nigerians to own high-capacity vessels, dominate our own coastal waters, and stop foreign ships from taking over our maritime economy.

But while the bureaucracy delayed, the narrative became deeply fractured.

The maritime industry was recently rocked by a shocking revelation from former NIMASA Director-General ,Temisan Omatseye, at the 2026 Shipping Correspondents Association of Nigeria (SCAN) Summit.

Omatseye exposed what he described as a legacy structural error, claiming that dollar receipts collected from local operators were historically swept and converted into Naira by the Accountant-General’s office to chase higher domestic interest rates.

In a swift and aggressive counter-response dated November 1, 2026, the current Director-General of NIMASA, Dr. Dayo Mobereola, flatly dismissed the claims.

Mobereola insisted that there has been absolutely no conversion of the dollar-denominated component of the fund, asserting that all USD contributions remain fully intact within the Central Bank of Nigeria (CBN).

This public clash between a former helmsman and the current leadership creates a massive transparency crisis.

In the global maritime industry, shipping assets are priced strictly in US Dollars. If Omatseye’s account of past historical conversion is true, then a massive portion of the fund’s purchasing power has vapourized due to the recent steep devaluation of the Naira.

If Mobereola’s denial is correct, then the full $700 million value remains intact.

To settle this confusion once and for all, the Ministry of Marine and Blue Economy must move beyond mere press statements.

The government must immediately open its financial records and publish the certified CBN account balances of the CVFF.

Stakeholders deserve an independent audit, not a war of words.

Meanwhile, the long-awaited application portal launched by the Ministry continues to run straight into a banking brick wall.

Out of nearly a hundred applications, disbursements remain stalled because Primary Lending Institutions (PLIs) are demanding rigid credit terms, strict 15% cash equity, and long-term cargo guarantees.

As leaders within the Nigerian Indigenous Ship-owners Association (NISA) and the Shipowners Association of Nigeria (SOAN) have long lamented, many local shipowners are already heavily indebted, with their existing assets trapped by AMCON.

Demanding heavy cash equity and unachievable bank conditions to access their own contributed funds is simply setting local operators up to fail.

What does this portend for Nigeria?

Foreign vessels will continue to dominate our coastal waters, taking away billions of dollars in freight capital, while our youth lose out on thousands of seafaring jobs.

Minister Adegboyega Oyetola and NIMASA must stop the endless circular arguments. The government must immediately engage genuine indigenous shipowners, simplify the rigid banking rules, and provide full account transparency.

Our blue economy cannot float on a sea of endless delays and conflicting balance sheets. It is time to let Nigerian shipowners see the books, access the funds, and secure our waters.

Ibrahim Nasiru, a public affairs analyst, writes from Abuja

Headlines

“You Lied” NIMASA tackles its ex- DG, Omatseye, over claim of conversion of dollar- denominated CVFF to naira

Dayo Mobereola, Temisan Omatseye

Funso OLOJO, Editor

The Nigerian Maritime Administration and Safety Agency (NIMASA) has latched out to Mr Temisan Omatseye over his claim that the dollar – denominated remittance into the Cabotage Vessels Financing Funds(CVFF) has been converted into Naira to attract higher interest rates.

Mr Omatseye, who was the former Director – General of NIMASA from July 2009 to December 2010, make this claim at a public function in Lagos last week.

In a rebuttal statement personally signed by the Director General of NIMASA, Dr Dayo Mobereola, the agency frowned at what it described as false and misleading claim made by its former helmsman.

“For the avoidance of doubt, this claim is incorrect and does not reflect the actual status of the CVFF.

“The revenue streams accruing to the CVFF are denominated in different currencies.

“Accordingly, funds remitted in United States dollars are retained in dollars with the Central Bank of Nigeria (CBN), while contributions remitted in naira are retained in the local currency.

“There has been no conversion of the dollar-denominated component of the CVFF to naira, contrary to the allegation” the statement declared.

However, the agency reiterated its commitment to disbursement of the controversial CVFF, claim the Minister of Marine and Blue Economy, Adegboyega Oyetola, “is working assiduously towards ensuring the imminent disbursement of the Fund to qualified beneficiaries”

The statement further disclosed that the agency has received applications from eligible beneficiaries, some of whom are currently undergoing the required documentation processes with their preferred Primary Lending Institutions (PLIs).

“NIMASA remains optimistic that the disbursement process will commence shortly.

“The Honourable Minister’s commitment to ensuring the disbursement of the CVFF is consistent with the Renewed Hope Agenda of President Bola Ahmed Tinubu, which seeks to strengthen indigenous capacity, empower local operators and enhance the competitiveness of Nigeria’s maritime industry”

NIMASA therefore urged the industry operators and members of the public to disregard what it regarded as the misleading reports suggesting that the CVFF has been converted from dollars to naira.