Expert wants ship owners to access Cabotage Fund

Chairman, Planning Committee, Nigeria Maritime Expo, NIMAREX, Mr Ayorinde Adedoyin, says ship owners should be allowed access to the Cabotage Vessel Financing Fund, CVFF.

Adedoyin stated this in Lagos, saying government should also enforce the Local Content Act..

The Nigerian Maritime Administration and Safety Agency, NIMASA, has been the custodian of the Cabotage Vessel fund since 2004 as stipulated by the Cabotage Act.

Adedoyin said enforcement of the Local Content Act would bring positive developments to the maritime sector as he maintained that in 2016, with determination, the Expo would be made bigger.

Adedoyin urged the stakeholders in the maritime industry to be more determined to enable them achieve their goals, stating that some of the companies which participated in the Expo were not known before now .

“The whole idea of NIMAREX is to showcase what you have and allow people to see what you do, how you do it, and the value added service you can give to their business.

“We should continue to do what we do. We should continue to show people. At least, this year I have been able to prove a point that at least we can do it.

“If we are determined to do it by next year, they should come and we will make it bigger. The larger we are the better for all of us,’’ Adedoyin added.