Tuesday, 15 April 2025

By Busola Bamidele on April 15, 2025

The Cabotage Vessel Financing Fund (CVFF) will reposition Nigeria's maritime sector for long-term growth, improved logistics, and global competitiveness, according to Minister of Marine and Blue Economy, Adegboyega Oyetola.

"We are doing what should have been done years ago, because our vision is clear," Oyetola stated. "A strong indigenous fleet is not just a matter of pride; it is a strategic national asset."

The minister emphasized that the CVFF will help secure maritime jobs, strengthen the economy, and redefine Nigeria's role in global trade.

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The initiative is part of the Tinubu administration's broader push to unlock the blue economy's potential and empower local players in the shipping industry.

This move marks a historic milestone for the sector, driven by indigenous capacity, sound policy, and firm political commitment.

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