The President of Nigerian Shipowners Association (NISA), Otunba Sola Adewumi has commended President Bola Ahmed Tinubu as well as the Minister of Marine and Blue Economy, Mr Adegboyega Oyetola for eventually launching the long-awaited application portal for the Cabotage Vessel Financing Fund (CVFF).
In a goodwill message delivered during the official launch of the CVFF Application Portal on Thursday in Lagos, Adewumi commended the President of the Federal Republic of Nigeria, His Excellency Bola Ahmed Tinubu, GCFR, for his bold leadership under the Renewed Hope Agenda while also applauding the Honourable Minister of Marine and Blue Economy, His Excellency Adegboyega Oyetola, CON, for his clear vision and commitment to repositioning the maritime sector as a pillar of national economic growth.
According to him, “The CVFF, established under the Cabotage Act, was created to provide Nigerian shipowners access to affordable financing and to strengthen indigenous participation in coastal and inland shipping. The commissioning of this digital portal marks a critical milestone in the realization of that objective. It demonstrates transparency, accountability, and a deliberate effort by the Federal Government to ensure that the Fund delivers real value in line with the Marine and Blue Economy policy.
“For Nigerian shipowners, this portal represents renewed hope—hope for fleet expansion, modernization, job creation for our seafarers, and greater retention of maritime value within the national economy. When indigenous shipowners are empowered, the entire maritime value chain benefits.
“I wish to assure the Honourable Minister and the Management of NIMASA of the full support and cooperation of the Nigerian Shipowners Association. We are committed to responsible utilization of the Fund and to working with all stakeholders to ensure the objectives of the Cabotage Act are fully achieved’, he stated.
Speaking further, the shipping magnet also urged eligible shipowners to embrace this opportunity with integrity, professionalism, and a long-term national outlook; even as he added that the commissioning of the CVFF Portal is a defining step toward a stronger and more sustainable indigenous shipping industry.
