President Bola Tinubu has authorized the disbursement of the Cabotage Vessel Financing Fund (CVFF), a long-awaited initiative to support the maritime sector. Minister of Marine and Blue Economy, Dr. Adegboyega Oyetola, has directed NIMASA and 12 Primary Lending Institutions to expedite the loan processing. The directive aims to end over 20 years of delays in accessing the fund. This move is expected to boost local vessel ownership and maritime capacity.
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