The Federal Government said plans are afoot to disburse the Cabottage Vessel Financing Fund (CVFF) soon to enable indigenous shipping operators to compete favourably with their international counterparts.
Minister of Transportation, Mu’azu Jaji Sambo disclosed this on Friday when he visited the National Inland Waterways Authority, Area Office in Port Harcourt, Rivers State.
The CVFF is an intervention fund created by the Federal Government for the development of indigenous shipping capacity in Nigeria to enable them maintain existing vessels or purchase new ones.
Describing the CVFF as a low hanging fruit, the Minister said it would support maritime activities which is the gateway to the nation’s economy, adding that “if we get our acts right, the maritime industry can replace the revenue from the oil” .
While answering questions from newsmen at the BUA Ports and Terminal Limited, situated at the Rivers Port, the Minister expressed delight at the progress of work, saying: “we are making good progress, bringing this place to a world standard,” but urged the operators to ensure completion by 2025.
Furthermore, the Minister assured that as part of the railway modernization policy, rail lines would be linked to the seaports for effective and efficient haulage of cargoes.
The Minister was accompanied on the trip by the Director, Finance and Accounts, FMT, Umaru Hassan who represented the Permanent Secretary, Dr. Magdalene Ajani, Directors, MSD, Legal Services, Rail, Press, Babatunde Sule, Pius Oteh, Jimoh Yusfu, Eric Ojiekwe, respectively.
Others were: Managing Director, Nigerian Ports Authority, Mohammed Bello-Koko, Managing Director, Nigerian Railway Corporation, Fidet Okhiria and the Registrar, Council for Regulation of Freight Forwarding, in Nigeria, Sam Nwakohu among others.
Past ministers of transportation had assured stakeholders of the CVFF disbursement without fulfilling their promises to empower ship owners to acquire more fleet to compete favourably with foreigners on Nigeria territorial waters.
Meanwhile , the Honourable Minister of Transportation has also felicitated with the Secretary to the Government of the Federation (SGF), Boss Gidahyelda Mustapha on his 66th Birthday Celebration.
This was contained in a press statement released to newsmen by Dr Sam Idiagbonya, the SA Media and Publicity to the Honourable Minister of Transportation.
Sambo noted that the SGF’s exemplary leadership is worthy of emulation. The Honourable Minister also said he admires the SGF’s vision for Nation Building, and elevating the lives of others through diligence, passion and Hard work.
Boss Mustapha, he said is one individual in whom Nigeria and Nigerians takes great pride in, adding that he holds one of the country’s most challenging positions, but he maintains his composure and modesty.
Following his activities since taking office as SGF in 2017 one would vouch to the great way he manages government affairs.
It’s worthy of note that the Honourable Minister served under the Secretary to the Government of the Federation, when the SGF was the Managing Director of the Nigerian Inland Water Ways (NIWA) and both of them maintains cordial relationship way before the NIWA days till now.
Sambo prayed that the Almighty God will continue to reward the Boss’ good deeds. In his words “As you celebrate another year of Excellence in good health and heart filled with kindness, I pray God will continue to reward you”.Happy Birthday to the SGF.
