CVFF: NISA president, Otunba Sola Adewunmi charges shipowners on accessing fund with integrity.
CVFF: NISA president, Otunba Sola Adewunmi charges shipowners on accessing fund with integrity.
Segun Oladipupo
The President of Nigeria Shipowners Association (NISA), Otunba Sola Adewunmi has called on indigenous shipowners to embrace the opportunity of accessing the Cabotage Vessel Financing Fund (CVFF) with integrity, professionalism and a long time outlook
He made the call on Thursday, in his goodwill message at the commissioning of the CVFF Application Portal held in Lagos.
The indigenous shipowners boss who profusely applauded that initiative of the President, Asiwaju Bola Ahmed Tinubu, the minister of Marine and Blue Economy, Dr.Gboyega Isiaka Oyetola also assured the Nigerian Maritime Administration and Safety Agency (NIMASA) of the association’s support and cooperation.
He added that the body was committed to responsible utilization of the Fund and to working with all stakeholders to ensure the objectives of the Cabotage Act are fully achieved.
Text of the goodwill message, “I am honoured to participate in this important occasion—the official commissioning of the Cabotage Vessel Financing Fund (CVFF) Portal by NIMASA.
“On behalf of the Nigerian Shipowners Association, I commend the President of the Federal Republic of Nigeria, His Excellency Bola Ahmed Tinubu, GCFR, for his bold leadership under the Renewed Hope Agenda.
“I also warmly applaud 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.
“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.
“I also urge eligible shipowners to embrace this opportunity with integrity, professionalism, and a long-term national outlook.
“In conclusion, I congratulate NIMASA on this significant achievement and commend all stakeholders whose persistence has brought us to this day. The commissioning of the CVFF Portal is a defining step toward a stronger and more sustainable
indigenous shipping industry.”
