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CVFF loans useless without jobs—- Shipowners

—I won’t touch it with a long pole–Captain Labinjo

The Eyewitness reporter
The Indigenous ship owners have expressed pessimism over the viability of the loans obtained under the controversial Cabotage Vessels Financing Funds (CVFF).
It could be recalled that the Minister of Transportation, Engr Muazu Sambo, at the weekend, announced the approval of President Muhammad Buhari for the disbursement of CVFF after over 17 years of inception, a decision that elicited mixed reactions among maritime stakeholders.
However, some indigenous ship owners, for whom the funds are meant, were less enthusiastic about the news which they said had become regular rhetorics from the government.
One of the cynics of the CVFF programme and who was less excited by the presidential approval which he said he had before was Captain Niyi Olabinjo, the former President of the Nigerian Indigenous Ship owners Association (NISA).
Speaking at the sidelines of the flag-off ceremony of the third phase of the Nigerian Seafarers Development Programme (NSDP) held in Lagos at the weekend, Captain Niyi Olabinjo said he was not excited by the news of presidential approval for the disbursement of the funds.
According to him, collecting the loans will be useless without having jobs to execute.
” I am not excited because getting a ship is just one aspect of the whole process but making sure the ship gets jobs is more crucial.
“Where are the jobs for the vessels that will be purchased by the CVFF loans?
He swore not to touch the loans with a ten-foot pole because of a lack of jobs to execute.
“I won’t apply for the loans, just like many other ship owners who have no jobs.
“Give me one million ships and don’t give me jobs, I would reject it” Captain Niyi Olabinjo declared.
He observed that the beneficiaries of the loans may find it difficult to pay back without jobs to execute.
He said that in other climes, it is not money that is only arranged for ship owners but jobs also.
”Personally, I will not apply. Some people may apply because they have jobs but I don’t have a job.
“Anyone who gets the CVFF, in another two, five to ten years, if he is unable to pay back, the government will start to harass him with the EFCC” he declared.
Captain Labinjo condemned the use of Cabotage waivers when foreigners like Indians, and Pakistani have taken over the Nigerian Cabotage trade, lamenting they are the ones running the tanker business in Nigeria.
“How many local operators have tanker vessels, maybe two or three, they have all gone under” he lamented.
He said the continued use of waivers for about 19 years now shows that the Nigerian Cabotage regime is not growing.
The indigenous operator also frowned at the exclusion of indigenous ship owners in the selection process of the beneficiaries of the funds.
” CVFF is like esusu( contributions) by indigenous ship owners. It is our esusu(money)”.
”How can you select the beneficiaries for disbursement without getting us involved in the process? he queried.
However, Umar Aminu, another foremost indigenous ship owner said he was excited at the news of presidential approval for the disbursement of the funds.
“I was excited because this is what the ship owners have been looking forward to over the years.
”We have been contributing towards the funds since 2007 so it is time for us to access it” Aminu enthused.
He disagreed with Labinjo, saying there are enough jobs for the beneficiaries of the loans to execute to enable them to liquidate the debts at the appropriate time.
He noted that securing the loans under the CVFF will mean more vessels and capacity development for local operators.
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Open Letter to President Bola Ahmed Tinubu on the need to assent to the Nigerian Shipping and Ports Economic Regulatory Agency(NSPERA) bill

By Elder Asu Beks

Mr President,on behalf of the  Maritime Elders Forum and  entire maritime stakeholders, i respectfully send you  season’s greetings.
There is no doubt, Mr President, that 2025 has been one of the most turbulent and challenging years in the history of our nation.
 From the wave of insecurity ,which you have tackled squarely,to the far reaching  economic reforms  which has translated to the tax reform bills , are all  pointers to the fact that you are taking the challenges head on.
Mr President , your modest achievements in the Oil and Gas sector are also there for all to see.
From the bold decision to abolish fuel subsidy to the increase in daily production levels to an average 1.8m bpd ,from about 1mbpd daily output as at May ,2023, and the complete disapperance of fuel queues, it is certain, Mr President, that you are building a legacy of renewed hope, unprecedented in the life of our nation.
 We cannot thank you enough, Mr President.
 For us in the maritime sector, the most profound of your score card remains  the creation of a specialised Ministry of Marine and Blue Economy.
The demand for a Ministry to oversee Nigeria’s vast  maritime domain is as old as Nigeria’s Independence.
For us as critical stakeholders, this couldnt have come at a better time.
 In just two years of the creation of this specialised Ministry, Nigerians are already reaping bountifully from this innovative move.
Only last month,Nigeria won an election into the elusive category ” C” of the International Maritime Organisation, (IMO).
This victory  is coming after  nine unsuccessful  attempts, spanning 14 years.
With this victory , which couldn’t have been posible without  your fatherly role,our fortunes as one of the greatest maritime nations in sub saharan Africa  has  been solidified.
 Mr President, another milestone recorded under your watch ,since the creation of the Ministry of Marine and Blue Economy is the introduction of the game changing National Single Window platform which comes into effect  in the first  quarter of 2026.
The National Single Window is a trade facilitation tool designed  to eliminate multiple entries by various regulatory bodies in business transactions in our seaports.
In other words, it is a digitalized platform that allows importers and exporters to submit all necessary documents, permits , and data to multiple government agencies through a single entry point.
Mr President, with these developments, you have etched your name as “the President who saw  tomorrow” by demonstrating in concrete terms, the enormous  potentials which this sector holds as your administration continues to look at a Nigeria beyond oil.
In this regard, Mr President ,we the  Maritime Elders Forum urge you ,without delay  to  sign into law, the Nigerian Shipping and Port Regulatory Agency (NPERA) Bill .
The NPERA Bill aims to transform the Nigerian Shippers Council, (NSC) into a powerful, independent economic regulator for Nigeria’s Ports,creating a strong  frame work for tariffs,fair competition and efficiency after port concession.
The Bill, a brain child of  Dr Tajudeen Abass, Speaker, Federal House of Representatives, is  aimed  to fill the vacuum created by an absence of  a  regulatory  agency in such a critical sector of our national economy ,as against other sectors such as  banking, petroleum , energy and  communication.
This critical Bill seeks to repeal the old Nigerian Shippers Council Act and empower the Council to manage port economic activities, boosting the Blue Economy.
Mr President, the laudable objectives of this Bill include;establishing an independent  regulation to create a strong legally backed economic regulator for our ports; Control tariffs, charges and regulate port charges  in such a manner as to prevent arbitrariness  and ensure fairness; to promote fair competition by improving overall port operations and attract investment; Support the Blue Economy to align with our national goals for developing Nigeria’s Marine Economy.
 Your Excellency Sir, this Bill was given an accelerated hearing ,and was passed by both chambers of the National Assembly on April 10, 2025 upon which it was forwarded to you for assent.
 Mr President sir, the delay or your failure to assent to this  Bill is coming at huge cost and has resulted in significant economic losses for Nigeria, primarily by perpetuating an unregulated and inefficient port system that has led to huge financial leakages that deter investment.
 Mr President, sir, it is estimated that the nation is losing billions of dollars dailly to the absence of a strong legal frame work for port economic regulation.
We have on good authority, Mr President, that this obvious lack or absence of a regulated ports industry is also taking a huge toll on local and foreign investments as an estimated $250b is said to be lost annually, aside arbitrary charges by terminal operators and Shipping Lines .
 In a nutshell, Mr President, the envisaged benefits of this brand new Ministry of Marine and Blue Economy has been eroded on account of the absence of a legal regulatory frame work.
As it stands, sir ,a Ministry of Marine and Blue Economy without an Economic Regulator is akin to a football game without a referee.
it means anything goes and the out come of a game without an official umpire could be better imagined.
 Mr President sir, consequently ,the time to sign the NPERA Bill is now.
Thank you Mr President for listening to this passionate appeal.
 Let this be your new year present to Maritime Stakeholders.
ELDER ASU BEKS, CONVENER, MARITIME ELDERS FORUM, LAGOS
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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.
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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.

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