NIMASA set to launch portal for Cabotage fund disbursement

Stories by Seun Ibiyemi

The Nigerian Maritime Administration and Safety Agency (NIMASA) has announced plans to launch an application portal for the Cabotage Vessel Financing Fund (CVFF), marking a major step toward the long-awaited disbursement of the fund.

According to a public notice titled “Commissioning of the Cabotage Vessel Financing Fund (CVFF) Application Portal,” obtained by newsmen, the portal will be officially launched on Thursday, January 22, 2026, in Lagos.

NIMASA explained that the commissioning of the portal is a critical milestone in the CVFF disbursement process, designed to enhance transparency and streamline access to the fund for eligible stakeholders in the maritime sector.

“The Management of the Nigerian Maritime Administration and Safety Agency (NIMASA) hereby invites members of the public to the launch/commissioning of the Cabotage Vessel Financing Fund (CVFF) application portal,” the agency stated in the notice.

The event is scheduled to hold at Iris Hall, Eko Hotels and Suites, Victoria Island, Lagos, by 10:00 a.m.

NIMASA urged stakeholders and interested participants to register ahead of the event through an online registration platform, as part of preparations for the official launch.

The CVFF was established to support indigenous shipowners and strengthen Nigeria’s maritime industry by improving access to vessel financing, but its disbursement has faced prolonged delays over the years. 

The planned launch of the application portal is widely seen as a renewed commitment by the agency to operationalise the fund.

Recall that the Minister of Marine and Blue Economy, Adegboyega Oyetola revealed that the federal government has directed Nigerian Maritime Administration and Safety Agency (NIMASA), to commence disbursement of the Cabotage Vessel Financing Fund (CVFF) to qualified indigenous ship owners.

This move, he said, is a major step that would enable indigenous shipowners to acquire new vessels, expand capacity, and move decisively towards the establishment of a National Flag Carrier. 

The Minister stated this during a breakfast meeting organised by Nigerian Chamber of Shipping, themed, “Unlocking Opportunities: The Lekki Deep Seaport Playbook For Transforming Trade And Shipping In Nigeria,” in Lagos.

He said the administration is fully aware that infrastructure alone would not secure the nation’s maritime future.