Micura Boss Commends Minister Of Marine & Blue Economy Over Moves For CVFF Disbursement

By Roland Ekama

A foremost stevedoring expert, Chief Michael Orobosa Ubogu, has commended the Minister of Marine and Blue Economy, Alhaji Adegboyega Oyetola, for moves to promote indigenous shipping through the attempted disbursement of the controversial Cabotage Vessel Financing Fund (CVFF).

The maritime expert said the actualization would boost Nigeria’s participation in global maritime trade

Chief Ubogu, who is the Managing Director of Micura Services Limited, disclosed this during an exclusive chat with DAILY FOCUS NIGERIA in Lagos.

“The Minister of Marine and Blue Economy has done so well in facilitating access for ship owners to acquire vessels and boost employment through the CVFF,” he said.

“Secondly, there has been a transformation in the importation of cargoes. Since it is an electioneering period, we experienced a huge surge in imports in 2025, and prices of goods dropped during this festive period compared to what we saw in 2024.

“Overall, President Tinubu is doing greatly at the moment, and the maritime sector is also thriving under this administration.”, Ubogu affirmed.

Continuing, he said, “The CVFF is certain to be disbursed this time around because the parameters have been put in place to encourage indigenous ship owners.”

Ubogu also called on the federal government to fast-track the license renewal process for terminal operators whose licenses have yet to be renewed.

The Micura boss made a passionate appeal for the Minister to revisit the port concession agreement by prioritizing the license renewal of terminal operators, adding that port concessions have been a game changer in seaport terminal operations in Nigeria, making cargo procedures and processes seamless.

The maritime expert further stated that terminal operators have been performing optimally, noting that the import and export of cargoes have continued to thrive through seaport trade.

He pointed out that the maritime industry has become a stronghold for the Tinubu administration because, according to him, non-oil exports have soared in the last two years.

The maritime player said exports have risen and have been encouraging in the last two years compared to the previous administration.