Nigerian Maritime Administration and Safety Agency (NIMASA) is rviewing the operational guidelines of the cabotage vessels financing fund (CVFF) which is in excess of $100 million, says Dakuku Peterside, director general/CEO of the agency.
“The issue of the cabotage vessels financing fund is one we have taken a critical look at and I can categorically say that we are addressing the issues militating against the fund being fully operational and accessible”, peterside said.
The director general, who spoke at the world press conference in Lagos to herald Nigeria’s hosting of the 3rd Conference of the Association of Heads of African Maritime Administrations (AAMA Conference) in Abuja, at the Transcorp Hilton Hotel, April 19 -21, 2017, further said that the hosting of AAMA will provide opportunity to the Nigeria to continue to improve on its role as a global player in the comity of maritime nations.
The meeting will be hosted by the NIMASA in conjunction with International Maritime Organization (IMO), which will bring together all the major Maritime Administrators and leading stakeholders in Africa to discuss various issues and ways of improving the maritime sector in the continent.
The NIMASA chief executive also disclosed that the Nigerian Flag has also enjoyed significant growth within the past twelve months. While 262 vessels with a total Tonnage of slightly over 232,000 GRT were Registered in 2015, the figures almost doubled in 2016 as 370 vessels with a total Tonnage of almost 420,000 GRT were registered within the past 12 months.
Speaking on the Nigerian Seafarers Development Programme, he said So far, 1,045 beneficiaries have graduated from the project, representing 42 percent graduates of the over 2500 NIMASA sponsored beneficiaries.
A breakdown shows that 226 graduated from the Arab Academy in Egypt, 76 from South Tyneside, Newcastle in England while 743 graduated from various partner Universities in The Philippines.
Another issue raised by the DG was the affreightment of Nigerian cargo especially crude oil lifting. He said the Agency will join forces with well-meaning Nigerians to move for the change of trade term from FOB to CIF to reasonably involve our indigenous operators in Nigerian cargo affreightment.
The CIF, he said will enable Nigerians participate in cargo lifting, cargo insurance, create job for our teeming cadets and other ancillary economic and security derivatives.
“The plans are on top gear to reach out to relevant Agencies of government and very soon we shall do an executive memorandum to the Federal Executive Council for consideration and approval”, Peterside added.