Headlines
NIMASA receives 60 applications for CVFF, considers disbursement soon
Funso OLOJO, Editor
The Nigerian Maritime Administration and Safety Agency(NIMASA) has hinted that it may soon commence the disbursement of the Cabotage Vessels Financing Fund (CVFF) any moment soon.
This cheering news was dropped by the Director General of of NIMASA, Dr Dayo Mobereola, while speaking during the stakeholders meeting and management retreat on Thursday , April 2nd, 2026 with the Minister of Marine and Blue Economy, Adegboyega Oyetola.
At the sidelines of the signing of the performance bond of the heads of the Maritime agencies with the Minister, Dr Mobereola disclosed that NIMASA has so far received 60 applications for CVFF from interested indigenous ship owners since the CVFF portal was opened in January, 2026.
Mobereola assured that disbursement process would be transparent and strictly monitored
He reaffirmed the commitment of NIMASA to accountability, improved performance, and sustained growth in the maritime sector with the signing of its 2026 Sectoral Performance Bond.
Mobereola described the Performance Bond as a key governance instrument for tracking deliverables, strengthening institutional accountability, and aligning the Agency’s operations with national priorities.
He stated that NIMASA’s ongoing reforms are driven by purposeful leadership and strategic ministerial support, adding that the Agency remains committed to delivering on its mandate in line with the Renewed Hope Agenda of President Bola Ahmed Tinubu’s administration.
On maritime security, Mobereola disclosed that Nigeria has recorded zero piracy incidents in its territorial waters over the past four years, attributing the milestone to enhanced surveillance systems and improved inter-agency collaboration.
He further revealed that the Agency is at an advanced stage of automating its ship registry processes, a move expected to improve efficiency, reduce delays, and boost Nigeria’s competitiveness in global maritime business.
Mobereola also noted that Nigeria has deposited three conventions with the International Maritime Organization (IMO), while three others are awaiting Federal Executive Council approval, underscoring the country’s commitment to international maritime standards.
Speaking further, he noted that Nigeria’s election victory into category C at the IMO Council in November 2025 restored her voice in global maritime governance and strengthening its leadership role in Africa.
In his remarks, Minister Adegboyega Oyetola reiterated the Federal Government’s commitment to using the maritime sector to drive economic diversification, job creation, and foreign exchange earnings.
He stressed that the Performance Bonds are binding commitments that will be closely monitored, declaring that “accountability is not optional.”
Headlines
May Day: Mobereola salutes maritime workers for passion, dedication to building virile industry
Gloria Odion, Maritime reporter
“Thank you for your dedication and invaluable contributions”.
He emphasized that as a regulator, the Agency remains committed to its oversight function of regulating maritime labour activities in the industry in line with extant instruments and the expectations of the theme of the 2026 Workers’ Day, which focuses on safety, dignity and productivity.
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