Flotilla Academy of Marine Technology has applauded the Honourable Minister of Marine and Blue Economy, H.E Adegboyega Oyetola for giving a directive for the Nigerian Maritime Administration and Safety Agency (NIMASA) to commence processes for immediate disbursement of the long awaited Cabotage Vessel Financing Fund (CVFF).
This is even as the academy has expressed readiness to help Indigenous shipowners build made-in-Nigeria vessels in line with the provisions of the Cabotage Act which stipulates that the vessels must be built in Nigeria.
In a press statement released on Wednesday by the management of the academy and signed by its Technical Director, Engr Adakole Ejegbudu, the Academy lauded the Minister for giving a matching order for NIMASA to kick-start processes for the disbursement of the fund, noting that indigenous shipowners who are prospective beneficiaries of the fund would experience another boom days in coastal trade if they put the fund to good use.
According to him, “The disbursement of the CVFF will represent not just the release of funds, but a profound commitment to empowering Nigerian maritime operators, bolstering national competitiveness, and fostering sustainable economic development.
“This directive marks a significant shift from over two decades of administrative stagnation and ushers in a new era of strategic repositioning of Nigeria’s indigenous shipping”, he said.
He also disclosed that Flotilla Academy would key into this strategic repositioning of Nigeria’s indigenous shipping by helping local shipowners build made in Nigeria vessels in order to meet the provisions of the Cabotage Act which stipulates that the vessels must be built in Nigeria.
Speaking further, the frontline Naval Architect and Yacht Designer noted that his academy has the skills and expertises needed to design and build modern ships needed for coastal trades under the Nigeria Cabotage regime.
He also called on indigenous shipowners to take advantage of the academy’s skilled manpower and international partnerships to ensure their vessels are designed and built in Nigeria in compliance with the cabotage law.
Recall that Flotilla Academy of Marine Technology (FAMT) is a monotechnic dedicated to providing high-quality, industry-relevant diploma programs in four key areas of marine technology: Naval Architecture, Ship/Boat Building, Marine Surveying, and Marine Engineering.
FAMT aims to address the skills gap in the marine industry by equipping students with practical knowledge and technical expertise, leveraging strong partnerships with Practical Boat Design and Seamanship International as well as MaxBoat Corporation of the Philippines.
Logo image of Flotilla Academy
