FG to Boost Coastal Trade, Job Creation through Maritime Growth

FG to Boost Coastal Trade, Job Creation through Maritime Growth

JOEL OLADELE, Abuja

In a significant move to revitalize Nigeria’s Maritime Industry, the Federal Government has reaffirmed its commitment to unlocking the sector’s full potential.

The Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, gave the assurance in his office in Abuja, weekend when he met with the Nigerian Maritime Administration and Safety Agency (NIMASA) DG/CEO, Dr. Dayo Mobereola, to fast-track the deployment of the Cabotage Vessel Financing Fund (CVFF). A crucial step toward supporting the growth of indigenous shipping companies.

The meeting focused on unlocking financing for local shipowners. The discussions reinforced the government’s commitment to expanding coastal trade, creating jobs, and strengthening Nigeria’s position in the global shipping arena.

Stronger collaboration between key stakeholders on the efficient utilization of the funds to position Nigeria’s maritime industry for long-term growth was emphasised, ensuring that the CVFF delivers maximum impact.

The renewed commitment to maritime growth is expected to have a positive ripple effect on the entire economy, driving growth, creating employment opportunities, and consolidating Nigeria’s status as a major maritime hub in Africa.