The Federal Government of Nigeria has reaffirmed its commitment to revitalizing the country’s maritime industry, with a focus on unlocking its full potential.
This commitment was reinforced by the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, during a meeting with the Nigerian Maritime Administration and Safety Agency (NIMASA) DG/CEO, Dr. Dayo Mobereola .
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The meeting centered on fast-tracking the deployment of the Cabotage Vessel Financing Fund (CVFF), which is crucial for supporting the growth of indigenous shipping companies.
The government’s goal is to expand coastal trade, create jobs, and strengthen Nigeria’s position in the global shipping arena.
To achieve this, the government emphasized the need for stronger collaboration between key stakeholders to ensure the efficient utilization of the CVFF.
This collaboration is expected to have a positive impact on the entire economy, driving growth, creating employment opportunities, and consolidating Nigeria’s status as a major maritime hub in Africa.
This move is part of the government’s broader efforts to develop the maritime industry, which includes plans to unveil a Marine and Blue Economy national policy .
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The policy aims to create an enabling environment that fosters investor confidence, promotes transparency, and attracts investments to facilitate growth.