FG to disburse CVFF next year - Amaechi

Harboursandport.com: Lagos - The Federal Government has given approval to the Minister of transportation for the disbursement of the Cabotage Vessel Financing Fund, CVFF next year, minister of transportation, Mr Rotimi Amaechi has

do.

Speaking at the stakeholders' appreciation night by the Nigerian Council, NSC, on Thursday, the minister said following the approval for the disbursement, a meeting between the Minister and agencies in the sector.

The CVFF is a two per cent contribution of all businesses embarked upon in the Cabotage area by Shipowners.
The Minister said, "The president has given the approval to disburse the Caboatge vessel financing fund, and we will be doing the disbursement by next year.   

“By next year there will be a meeting with all the maritime agencies involved to discuss on how to disburse these Cabotage funds. But I will first of all meet with my colleagues to know how we want it to be disbursed

“We want to hear want we want, how to go about it, and what could be the outcome of that disbursing. So by Tuesday, I will meet with the executive secretary, Nigerian shipper’s council, NSC, and Director-General, Nigerian Maritime Administration and Safety Agency, NIMASA, to know what we will do concerning the fund.

“So, by January, we will invite all the concerned stakeholders to know what you people really want and if it does not align with what we want, we will go with your decision.”