Headlines

At Portnews Summit, Captain Olubowale raises concern over protracted delay in disbursement of CVFF

Funso OLOJO

Captain Ladi Olubowale, the President of African Shipowners Association(ASA) has expressed a grave concern over the continued delay in the disbursement of the Cabotage Vessels Financing funds(CVFF), raising doubt if the fund is still available.

Captain Olubowale, who was the lead speaker at the Portnews 2025 Summit held in Lagos on Thursday, November 6th, 2025 ,lamented that for everyday the disbursement is delayed, Nigeria is losing and its shipyard industry is dying.

The President of African Shipowners Association, who spoke on the theme of the Summit” Nigeria’s Shipping Carriage Gaps, CVFF, and the Fading Manpower” said the the expectant indigenous Shipowners have suffered series of disappointments and failed promises from government whom he accused of insincerity on the disbursement.

“The question we will ask is, is the money still available? Is the money real?

” For every day we spend not using that money, there’s a loss. For every day we spend, our shipyard industry is dying.

It could be recalled that the successive administration of the Nigerian Maritime Administration and Safety Agency (NIMASA), the agency charged with the disbursement of the fund, have made series of unfulfilled promises since the creation of the fund in 2003.

The latest of such failed promises was made by the incumbent Director- General of NIMASA, Dr Dayo Mobereola, who said he has secured the approval of the Minister of Marine and Blue Economy, Adegboyega Oyetola, to disburse the fund in August,2025.

However Captain Olubowale said the non- disbursement of the fund has created the gap in Nigeria’s shipping carriage.

According to him, the country carries less than 10 percent of its cargo due to lack of vessels owned by Nigerians.

“Today, Nigeria moves over 150 million tonnes of cargo annually; crude oil, gas, containers, and dry bulk.

“Yet, less than 10% of that trade is carried by Nigerian-owned vessels.

Foreign shipping lines dominate our trade. This means billions of dollars in freight revenue leave our economy

every year.

” In 2023 alone, freight payments exceeded $9 billion, mostly earned by non-Nigerian operators.

“This dependence makes us vulnerable to global shocks and limits our economic sovereignty.”

“Nigeria exports oil, LNG, and agricultural

products. Yet our shipping presence is
minimal. We’ve become cargo owners without shipping power.

“This gap weakens our trade balance,
employment base, and technical capacity.

“Every vessel we don’t own represents lost jobs, lost taxes, and lost experience” Captain Olubowale lamented.

Prince Wale Oni, the Publisher of Portnews and the convener of the annual maritime summit recalled the cherry years of Nigerian National Shipping Line(NNSL) in the 80s when Nigeria was the proud owners of several sea- going vessels and vibrant Seafarers.

He however lamented that few years after, the NNSL and all its vessels have gone under while the Seafarers of those years have either died or old without much effort of replacement them.

“At the zenith of its glory, the Nigerian National Shipping Line paraded about thirty ocean going vessels with brilliant and respected master mariners like our captain lheanacho resplendent behind the wheels. Good and shining ambassadors of Nigeria.

“Ironically, this only lasted from the pre oil boom years of the 60s through the 70s up until the 80s.

“But where are we today? Despite the survival stamina of our industry, the NNSL and all its vessels have gone under.

“Where are the hundreds of super trained staff of NNSL and other crew of MV Kudirat Abiola, MV Binta Yaradua? We all remember the fate of MV Abuja” Prince Oni recalled with nostalgia.

He however queried the propriety of keeping huge sum of accrued CVFF idle by NIMASA while indigenous shipping, which is supposed to benefit from the fund are suffering.

“NIMASA is to superintend the Coastal and lnland Shipping Act of 2003 otherwise known as Cabotage Vessels Finance Fund.

“The Cabotage Vessels Finance Fund primarily provides funds for indigenous ship owners for medium size coastal vessels acquisition and maintenance.

” The fund was to be sourced through 2 percent surcharge and other levies.

“Between 2003, it is being mouthed that about 800 million dollars has been realized into the CVFF purse

“Some rumour it to be one billion dollars.

“Why can’t government tell us the exact amount? Why this level of opaqueness.

“Why this humongous volume of public money remain idle for so long, especially now that virtually all the indigenous companies in coastal carriage business have gone under ?

” Ask Chief Jolapamo, ask Otunba Sola Adewunmi of Nigeria l indigenous Ship Owners Association, (NlSA).

“Lets us imagine the volumes of cargo and the revenue being lost to smart foreigners in the West Coast.

“I admit that a few upstarts have taken advantage of Dangote Refinery and big time tank farms. But on a scrutiny, are they really in charge?

“Must we continue playing second fiddle even to our West African brothers in this trade?

“At this juncture, l will salute NIMASA for keeping such large sums unscathed in its vault for over twenty years.

” It is a national record in fidelity.

But, why would a nation deem it wise to save about 800 million dollars for so long without finding it expedient to dispense it for the purpose it was generated?

“When thousands of its skilled seamen, master mariners, professionals trained at exorbitant costs in the best shipping schools around the world are loafing around, wasting away?” the Publisher queried

Customs

Apapa Customs intercepts 25.5kg Cocaine on board Brazilian Ship

— hands over detained ship, seized drug to NDLEA

Funso OLOJO

The Apapa Command of Nigeria Customs Service has uncovered Cocaine weighing 25.5kg onboard a Brazilian ship, MV San Anthonio

The illicit drugs, packaged in 24 parcels/slabs ,were hidden in five bags found aboard the ship during customs intelligence -led checks that has resulted in the detention of the ship

Comptroller Emmanuel Oshoba,Customs Area Controller for Apapa Port Command ,lauded the discovery while describing it as a fallout of the robust synergy between the NCS and the National Drug Law Enforcement Agency (NDLEA) .

According to the Area Controller, Customs intelligence discovered that upon her departure from Brazil, which is the ship’s country of origin, she had called at ports in Honduras, Guatemala and other places suspected to be hubs for illicit drug trade.

Oshoba reiterated the NCS resolve in ensuring only legitimate trade thrives in the port of Apapa in Lagos, following a zero compromise directive by the Comptroller General of Customs, Bashir Adewale Adeniyi.

While handing over the seized drugs to the NDLEA for further action, he also announced the detention of the vessel that came into Nigeria with the cocaine.

“What has happened today, is the outcome of profiling and intelligence -led operations by the NCS and NDLEA.

“Our resolve to prevent unlawful trade is refreshed daily following the directives of the CGC.

” This seizure and detention of the ship should send strong message of warning that should resonate in the camp of perpetrators of unlawful trade within our port system.

* Customs is strengthening its synergy with all sister government agencies and no criminal or group of lawless persons can beat us here.

” As we approach the Yuletide season, we will not sacrifice national security and economy on the altar of trade facilitation.

“All consignments exiting this port into our markets or warehouses must be duly examined with the contents ascertained to be what was declared” the CAC said.

At a brief handover ceremony,in the port,the NDLEA was represented by CN Haliru Umar, Commander, Apapa Strategic Command, who formally took over the seizure from customs

Customs

My appointment as WCO chair reflects confidence of global community in NCS reforms — Adeniyi

Funso OLOJO

The Chairperson of the World Customs Organization (WCO) Council, Dr Adewale Adeniyi, said his recent election signals a broader recognition of the growing reform-driven credibility of African Customs administrations, with Nigeria’s recent modernization efforts serving as a strong example of the continent’s readiness to influence global customs policies.

Speaking exclusively on WCO Global interview session, Adeniyi said the confidence expressed in him by member nations reflects not only personal honour, but also the significant progress made by Nigeria in aligning its systems, procedures, and priorities with international best practices.

Answering questions on the WCO flagship interactive forum tagged “The Customs Exchange: Conversations with Global Customs Leaders, Adeniyi who is also, Comptroller General of the Nigeria Customs Service (NCS) said: “It’s a kind of endorsement by the global customs community that we are on track.

” We have been undertaking reforms and modernization programmes in the last two years, and this validates the direction we are taking.” he said.

He noted that Africa’s customs landscape is rapidly changing, with several administrations leveraging WCO guidance to strengthen trade facilitation, improve revenue outcomes, and enhance border security.

Nigeria’s experience, he said, demonstrates how structured reforms, supported by international frameworks, can reposition a national customs service.

Speaking further on the Nigeria experience, Adeniyi pointed to the Authorised Economic Operator (AEO) programme as one of the most transformative initiatives Nigeria has implemented with support from the WCO.

According to him, the scheme has reduced clearance times at ports, improved revenue performance and fostered trusted partnerships with compliant traders—outcomes that reflect the effectiveness of global standards when domesticated with commitment.

He described the SAFE Framework of Standards, the Time Release Study (TRS), and recent work on advance rulings as additional markers of how global customs programmes can change narratives, especially in developing economies.

Adeniyi also underscored the importance of the WCO as a stabilising force for customs administrations around the world, saying its ability to unify diverse countries around shared priorities—economic prosperity, national security, and environmental sustainability—makes it a unique institution.

He affirmed that his appointment as WCO is a honour for him and a recognition for the Nigeria Customs Service.

He disclosed that the Nigerian Customs administration has been undertaking some reforms and mordernisation programmes in the last two years.

“So it will also mean that this appointment is a kind of validation of the reforms that we are doing.

“It a kind of endorsement by the global Customs community that we are on track and we are aligning our priorities with that of World Customs Organisation”, he said.

On the appointment, he said, “I feel so excited. Of course, I know that it’s a very big responsibility on my part and on the part of Nigeria for us to shoulder this and provide quality leadership for the world Customs community

As the first Nigerian to hold the position in nearly two decades, Adeniyi said he is aware of the responsibility his chairmanship places on his country and the African region.

He pledged to use the platform to elevate the continent’s contributions while fostering an inclusive governance approach within the global customs system.

He encouraged member administrations to continue embracing diversity, describing it as the core strength that will enable the WCO to advance global trade and security objectives.

“Our uniqueness is our strength,” he said. “We must let this diversity continue to create opportunity and progress for us.” he noted.

Headlines

TransQuest magazine marks 20 years of excellence with awards, seminar in Lagos

Gloria Odion

The Quest Media Group, publishers of TransQuest monthly magazine and online platform Transquestng.com, is set to mark its 20th anniversary with One-Day Transport Seminar and Quest Awardees event on Saturday, December 6th, 2025, at Lagos Airport Hotel, Ikeja.

Billed as part of the organisation’s event to mark its 20 years of operations, the occasion will bring together major institutions and leading figures across Nigeria’s transport and maritime ecosystem for strategic dialogue, sector evaluation, and the recognition of outstanding contributors.

With the theme “Leveraging Nigeria’s Maritime Potentials to Drive Economic Growth,” the seminar will be chaired by a renowned Transport Scholar, Professor Bamidele Badejo, while Professor Iyiola Oni of the University of Lagos will serve as the main Guest Speaker, as well as Mr. Lucky Amiwero, a renowned Maritime Consultant.

According to the convener and Publisher of TransQuest magazine, Mr. Felix Kumuyi, the anniversary event reflects two decades of undiluted, consistent, watchdog-driven reportage of the maritime and transport sector.

He noted that the seminar is deliberately structured to deliver real value to national policy conversations while strengthening collaboration among stakeholders.

The event is expected to host a powerful lineup of special guests and award recipients, including the Executive Secretary and CEO of the Nigerian Shippers Council, Dr. Pius Akutah Ukeyima MON; the Director General of Nigerian Maritime Administration and Safety Agency (NIMASA), Dr. Dayo Mobereola; the Managing Director of the Nigerian Ports Authority (NPA), Dr. Abubakar Dantsoho; and the Managing Director of the Nigerian Railway Corporation (NRC), Dr Kayode Opeifa.

Also attending are top security and enforcement leaders such as ACG Mohammed Babandede, Coordinator of Zone A, Nigeria Customs Service; Commander of the Apapa Strategic Command of NDLEA; Prince Olayiwola Shittu (JP), CEO of Skelas Group; Mrs. Ezenwa, CEO of Le’look Nigeria Ltd and former Director at the Federal Ministry of Transport; Dr. Eugene Nweke.

Others include Alhaji Adetona Mobashir, Chairman and CEO of Only God is Wise Nigeria Ltd; Otunba Hakeem Olanrewaju, Chairman of the Customs Consultative Council; as well as Customs Area Controllers including Compt. Frank Onyeka of Tin can Command, Compt. Godwin Otunla of Murtala Mohammed Airport Command, Compt. Emmanuel Oshoba of Apapa Command, Compt. Joe Anani of PTML Command, Compt. Wale Adenuga of Seme Command, among others.

The event will feature a thought-provoking symposium, interactive discussions, and presentations of awards to organisations and individuals who have demonstrated exceptional leadership and impact in the nation’s transport and maritime sectors.

Kumuyi added that beyond honouring industry trailblazers, the ceremony aims to deepen collaboration, promote best practices, and stimulate reforms needed to unlock Nigeria’s maritime economic potential.