Maritime
Capacity Dev’t: NIMASA Assures On Cabotage Vessel Financing Fund
Funds accrued under the Cabotage Vessel Financing Fund (CVFF) are intact and currently held with the Central Bank of Nigeria (CBN) under the Single Treasury Account (TSA).
This assertion was made by the Nigerian Maritime Administration and Safety Agency (NIMASA), in a statement in Lagos on Tuesday.
The clarification became necessary to address “a misleading publication alleging that funds have disappeared from the CVFF account”.
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The statement reads, in part, “The report of a missing money is both misleading and false.
“For the record, the Cabotage Vessel Financing Fund, securely held in the NIMASA account at the Central Bank of Nigeria (CBN), remains intact. There has been no disappearance of funds, and no illegal transactions, as the article suggests. This misinformation is a figment of the authors imagination, aimed at undermining NIMASA’s integrity, and mislead the public about the Agency’s operations.
“The Management of NIMASA will ensure that the CVFF is utilised in line with its statutory purpose. NIMASA Director General, Dr Mobereola has assured stakeholders of the safety of funds under the CVFF.”
The statement cited the DG thus, “Let us be clear that the CVFF account at the Central Bank of Nigeria is safe, intact, and secure. We at NIMASA will continue to manage it with the utmost responsibility, and there are no irregularities or illegal activities surrounding the funds. I urge the public to disregard this false narrative and to continue trusting the Agency’s ability to uphold the integrity of Nigeria’s maritime sector”.
It was gathered that the CVFF is a fund established under section 42 of the Coastal and Inland Shipping (Cabotage) Act 2003 to promote the development of indigenous ship acquisition capacity and to provide credit facilities to local maritime operators.
The NIMASA, assured of its commitment “to transparency, accountability, and the advancement of Nigeria’s maritime sector.”
Maritime
Maritime Security: NIMASA, Nigerian Navy Renew Collaboration MoU
The Nigerian Maritime Administration and Safety Agency (NIMASA) and the Nigerian Navy have renewed their strategic partnership with the endorsement of a Memorandum of Understanding (MoU) to strengthen maritime security, enhance safety and deepen coordinated enforcement across Nigeria’s maritime domain.
The MoU was signed at the Nigerian Navy Headquarters, Abuja, by the Director General of NIMASA, Dr Dayo Mobereola, and the Chief of the Naval Staff, Vice Admiral Idi Abbas.
The renewed agreement marks a significant milestone in the longstanding relationship between both institutions and represents the first formal renewal of their partnership since the original MoU was signed in 2007.
The agreement provides a framework for enhanced collaboration in the promotion and maintenance of maritime security and the effective implementation of the Suppression of Piracy and Other Maritime Offences (SPOMO) Act, the International Ship and Port Facility Security (ISPS) Code and other relevant maritime laws and regulations within NIMASA’s mandate.
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Speaking at the signing ceremony, the NIMASA Director General, Dr Dayo Mobereola, commended the commitment of the Honourable Minister of Marine and Blue Economy, Adegboyega Oyetola, to strengthening inter-agency collaboration as a key driver of maritime security and the development of Nigeria’s Blue Economy.
He said the renewed MoU would provide a stronger institutional framework for both organisations to discharge their respective statutory mandates while consolidating the gains already recorded in securing Nigeria’s maritime domain. This he said will enhance achieving the goals of President Bola Tinubu GCFR for the Blue Economy.
According to him, the agreement is also designed to address emerging maritime security challenges through improved coordination, information sharing and operational cooperation.
“As we renew this partnership today, I urge our respective teams to ensure that the spirit of this agreement translates into practical and measurable outcomes,” Dr Mobereola said.
Dr Mobereola also expressed appreciation to the Chief of the Naval Staff and the Nigerian Navy for their continued support and commitment to the renewal of the partnership.
In his remarks, the Chief of the Naval Staff, Vice Admiral Idi Abbas, described the signing as a milestone in the enduring relationship between the Nigerian Navy and NIMASA.
He noted that the renewed MoU contained important additions aimed at strengthening the response to the evolving nature of maritime security challenges.
One of the key provisions, he said, is the integration of the Deep Blue Project into the collaborative framework, providing a stronger basis for cooperation between the Nigerian Navy’s Maritime Guard Command and the project.
He also highlighted the introduction of a joint reporting protocol for communication and information sharing during operations, which he said would facilitate timely decision-making and a more coordinated response to maritime incidents.
Vice Admiral Abbas further welcomed provisions for greater institutional engagement, including an annual conference to enhance collaboration, review progress and address emerging challenges.
“Whether we like it or not, the water is where we get whatever we are getting—our revenue, everything and even the trade we engage in, in large percentages, is done through the water. So this institution has to be very strong,” he said.
The renewed MoU is expected to deepen operational cooperation between NIMASA and the Nigerian Navy, particularly in maritime security, information sharing, coordinated responses to maritime incidents, enforcement of applicable maritime laws amongst others.
Maritime
Nigeria, Liberia Strengthen Regional Maritime Cooperation
The Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Dr. Dayo Mobereola, has reaffirmed the Agency’s commitment to advancing regional maritime integration, cooperation and capacity development across Africa.
Mobereola made this known when he received the Honorary Consul of the Republic of Liberia in Lagos, Dapo Akinosun, at the Agency’s headquarters in Lagos.
The NIMASA DG described the meeting as a reflection of the longstanding and mutually beneficial relationship between Nigeria and Liberia, particularly within the maritime sector.
According to him, stronger collaboration among African nations remains critical to unlocking the continent’s maritime potential, strengthening the Blue Economy, and promoting sustainable regional growth of the continent.
On the significance of maritime cooperation, Mobereola said: “The time has come for African nations to upscale maritime collaboration. The partnership between Nigeria and Liberia will help us build capacity, strengthen regional cooperation, and create opportunities for African youths within the global maritime industry.
“We must collectively build maritime capacity beyond borders. Sea-time training and practical exposure will position Nigerian and African youths to compete effectively in the international maritime space.”
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He also appreciated the Liberian Government for supporting Nigeria’s successful bid for the Category C seat of the International Maritime Organization (IMO), noting that both countries have sustained productive maritime relations over the years.
In his address, Akinosun stated that the visit was aimed at reinforcing the enduring relationship between Nigeria and Liberia while promoting stronger maritime cooperation between both countries.
The Envoy described the maritime sector as a key driver of economic growth, regional integration, and Blue Economy development, while commending the management of NIMASA for efforts towards repositioning Nigeria’s maritime industry for sustainable growth and investment.
“Nigeria has demonstrated genuine commitment to maritime partnership and regional growth. Liberia looks forward to deeper collaboration with NIMASA in maritime administration, safety, capacity development, and trade promotion for the advancement of Africa’s Blue Economy,” Akinosun said.
Business
Sahara Group expands fleet with new 40,000 cbm LPG Carrier
Modupe Asudo
Sahara Group, a leading global energy and infrastructure conglomerate, has commissioned MT Asharami Ghana, a 40,000‑cubic‑metre Liquefied Petroleum Gas (LPG) carrier, expanding its fleet capacity, while strengthening Ghana’s clean energy supply chain and LPG distribution network.
The dual‑fuel vessel improves operational efficiency, enhances supply reliability, and supports lower‑emission LPG logistics as consumption grows across Ghana and the wider sub‑region.
Speaking at the commissioning in Ulsan, South Korea, President John Dramani Mahama described the vessel as “a significant milestone in strengthening the infrastructure that underpins the global LPG supply chain,” noting that expanded shipping capacity is critical to improving supply security, reliability and efficiency for countries that rely partly on LPG imports.
He commended Sahara Group, WAGL Energy and all partners involved for their “leadership, technical expertise and strategic foresight,” adding that the project reflects “the power of partnership” in advancing safe, efficient, and responsible energy distribution.
President Mahama wished the MT Asharami Ghana safe sails, expressing confidence that the vessel would inspire further investment and collaboration across Africa’s energy value chain.
According to Wale Ajibade, Executive Director, Sahara Group, the vessel supports Ghana’s clean energy ambitions through integrated infrastructure.
“MT Asharami Ghana is more than a vessel; it is part of a deliberate strategy to strengthen LPG supply security and support Ghana’s clean energy ambitions. It secures an additional 25,000-Metric-tonne stock security for the Ghana economy, alongside the soon to be commissioned 6000-metric-tonee of 12.000-metric-tonne land storage in Tema,” he said.
With the addition of Asharami Ghana, Sahara Group’s LPG carrier fleet now comprises six delivered vessels with a combined capacity of 202,000 cubic metres. Supported by partnerships with WAGL Energy, NNPC Limited and other stakeholders, an additional 270,000 cubic metres of capacity is under construction and due for delivery by September 2028.
Temitope Shonubi, Executive Director, Sahara Group, said Asharami Ghana is part of Sahara’s integrated LPG infrastructure strategy spanning shipping, storage, and downstream distribution globally, including the development of a 12,000‑metric‑tonne land‑based LPG storage terminal in Tema, with a 6,000‑metric‑tonne first phase scheduled for completion in May 2026.
He thanked Yaa Serwaa Alifo, MD of Asharami Ghana, for her resilience and insistence to dedicate a ship of “this magnitude solely to the Ghana Market and its landlocked neighbours.”
Ghana is targeting LPG adoption of 50 per cent of households by 2030, up from about 30 per cent today. Sahara’s investments will support clean energy access for more than 35 million people, while strengthening Ghana’s role in regional LPG trade to neighbouring and landlocked West African markets.
The commissioning comes in Sahara Group’s 30th anniversary year, guided by the Sahara Beyond XXX milestone, underscoring Sahara’s focus on building an enduring enterprise that delivers responsible growth, shared prosperity and long‑term impact across its markets.







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