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| L-R: Minister of Transportation, Rt. Hon. Chibuike Rotimi Amaechi, President, WIMAFRICA, Mrs. Jean Anichere and Director-General, NIMASA, Dr. Dakuku Peterside, at the maritime stakeholders meeting on the guidelines for disbursement CVFF in Lagos on Thursday. |
That was as the
Director-General of the Nigerian Maritime Administration and Safety Agency
(NIMASA), Dr Dakuku Peterside, who was chosen as Chairman of the committee,
said only shipowners, who are contributors to the fund, would be qualified to
access the facility.
Amaechi stated, “We have looked
at the old guidelines and we have seen that it will not be favourable to every
party involved. Our commitment towards ensuring the disbursement of the CVFF
remains unwavering, hence, the reason we are setting up this committee to look
at the guidelines and come up with a workable one that will suit all parties
involved.”
The Minister said part of
the economic benefits of the disbursement of the fund would be the creation of
employment for Nigerians and enhancement of indigenous capacity in the maritime
industry, which will help grow the Nigerian economy.
In his address at the
forum, Dakuku disclosed that the CVFF had grown to $200 million (about N72
billion). He said only contributors to the fund will be eligible to access it.
Dakuku reiterated that the
fund was meant to promote indigenous capacity in the shipping sector by
assisting Nigerians in the procurement of maritime assets in line with the
Cabotage Act, which seeks to encourage indigenous participation in the maritime
industry.
He also disclosed that in
addition to talks with the Central Bank of Nigeria (CBN) on how to make funds
available to operators in the maritime industry, the Agency was working with
the supervising Ministry to ensure that the CVFF was disbursed to qualified
applicants using a single-digit interest rate.
The Director-General said, “On our part as an Agency, our utmost
goal is to grow the maritime sector and encourage more indigenous
participation. We are working with the Ministry of Transportation and also
discussing with the Central Bank of Nigeria, to see the possibility of granting
loans to qualified operators at a single-digit interest rate, as this will give
room for greater participation and also open up vistas of opportunities for
massive job and wealth creation in the sector.”
He said NIMASA was working with stakeholders to ensure that the
Cabotage Act was fully actualised through a Five-Year Cabotage waiver cessation
plan set for implementation from next year.
Members of the CVFF
committee, besides Dakuku, are Chairman, of Nigerian Ship Owners Forum, Mrs.
Margaret Orakwusi; Vice Chairman, C&I Leasing, Emeka Ndu; Managing
Director, Starz Marine, Engr. Greg Ogbeifun; and President, Nigerian Shipowners
Association (NISA), Aminu Umar, among others.
The CVFF is meant to help
Nigerians buy ships and other assets to grow their capacity, support economic
growth, and compete favourably on the international scene.
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