Local shipowners bypass CVFF, secure $500m from foreign banks for vessels

By Steve Agbota Due to the federal government’s failure to disburse the Cabotage Vessel Financing Fund (CVFF), a consortium of indigenous shipowners has turned to foreign banks to secure a $500 million fund for vessel acquisition. The move aims to enhance their competitiveness against foreign operators within Nigeria’s territorial waters. After so many years of [...]The post Local shipowners bypass CVFF, secure $500m from foreign banks for vessels appeared first on The Sun Nigeria.

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