The House of Representatives, through its Committee on Maritime Safety, Education and Administration, has pledged full support for the directive issued by the Honourable Minister of Marine and Blue Economy, Adegboyega Oyetola, for the Nigerian Maritime Administration and Safety Agency (NIMASA) to expedite the disbursement of the Cabotage Vessel Financing Fund (CVFF).

Speaking during an oversight visit to NIMASA, the Acting Chairman of the Committee, Hon. Uduak Alphonsus Odudoh, expressed satisfaction with the Agency’s progress and commended the leadership of Director General Dr. Dayo Mobereola for ongoing reforms that are repositioning Nigeria’s maritime industry for global relevance.

“I want to commend NIMASA and the Federal Ministry of Marine and Blue Economy for steps taken to disburse the CVFF which has been a challenge for over 20 years. This will translate to job creation for the maritime sector in Nigeria. The DG and his team have succeeded in maintaining no piracy in Nigerian waters and this translates to better image for Nigeria. We are supporting Nigeria’s quest to seek election into category C at the IMO and hopefully we will win.  The DG told us that NIMASA is domesticating a record 56 conventions in one fell, swoop. This is fantastic. The global maritime community will see us as a serious maritime nation. we are committed to work, collaborate with NIMASA, collaborate with the Ministry of Marine and Blue Economy, for the success of this present government and the success of Nigeria.” the law maker declared.

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On his part, Dr Mobereola, welcomed the delegation and expressed appreciation for the cordial relationship that exists between the Agency and the House Committee. He lauded the Committee’s role in shaping governance and policy direction for the maritime sector, noting that such oversight and support are crucial to the Agency’s continued success. He confirmed that the Minister’s directive on the CVFF disbursement is a fait accompli.

He assured that “We are acting in accordance with the directive of the Honourable Minister to ensure indigenous shipowners finally have access to this critical funding. The guidelines have been streamlined based on the Minister’s approval, so beneficiaries can access the funds this year.”

To manage the $700 million intervention fund efficiently, NIMASA has expanded the number of Primary Lending Institutions (PLIs) from five to twelve.

The banks will play a key role in risk assessment, ensuring that only credible, financially capable shipping firms benefit from the revolving fund.

The funding model will see banks contribute 35%, NIMASA 50%, and the remaining 15% as equity from the shipowners themselves.

“By involving the banks, we are ensuring financial discipline and sustainability, which are crucial for this fund to continue long-term,” the DG explained.

“We are creating a win-win scenario—access to finance and access to business,” Mobereola said.

The Vice President of the Federal Republic of Nigeria, Senator Kashim Shettima, has called on Ministries, Departments, and Agencies (MDAs) of government, as well as members of the Presidential Enabling Business Environment Council (PEBEC), to deepen collaboration so as to foster a more conducive environment for doing business.

He made the assertion in Abuja, at the closing session of the PEBEC Retreat for heads of MDAs and MDA Reform Champions.

According to Sen Shettima the overarching goal is to ensure Nigeria remains a preferred destination for investors.

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He stated, “This retreat was convened by the Presidential Enabling Business Environment Council (PEBEC), an institution I am privileged to chair, not just to review reform progress, but to deepen something even more critical: synergy.

The business of government is too complex to be solved in silos. We cannot afford the luxury of working in isolation, while the problems we are tasked to solve are increasingly intertwined.”

Among the attendees was the Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Dayo Mobereola, who commended PEBEC for organizing the retreat.

He noted that it provided a valuable platform for peer review and constructive engagement among Federal Government appointees, aimed at improving institutional performance and reform delivery.

The Nigerian Maritime Administration and Safety Agency (NIMASA) has urged the private sector to seize emerging opportunities in Nigeria’s Blue Economy, particularly in the maritime sector.

The Director General of NIMASA, Dr. Dayo Mobereola made the call at the ongoing 36th Enugu International Trade Fair.

The NIMASA DG who was represented by the Deputy Director in the Planning Research and Data Management Service Department of NIMASA, Umar Mohammed highlighted NIMASA’s commitment to implementing the Renewed Hope Agenda of the Federal Government, while also emphasizing the need for inclusive economic growth through indigenous participation in domestic and international shipping.

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“To unlock the full potential of our maritime economy, NIMASA is pursuing an integrated development strategy that will support indigenous operators in ship acquisition, establish a National Carrier Line, and create maritime training institutions for world-class seafarers,” he stated.

He noted that the Agency is also implementing a Public Sector Cargo Support Programme aimed at creating a captive freight market for local carriers and reducing the dominance of foreign shipping lines in Nigeria’s seaborne trade.

Accordingly, he said the Agency’s strategic initiatives are being driven through public-private partnerships to ensure sustainability and long-term impact.

“Therefore, we are inviting investors and entrepreneurs to collaborate with us in developing a robust and competitive maritime sector that will create jobs and boost the national economy,” he added.

The NIMASA DG through his representative used the opportunity to express appreciation to the Governor of Enugu State, Dr. Peter Ndubuisi Mbah, and the leadership of the Enugu Chamber of Commerce, Industry, Mines and Agriculture (ECCIMA) for hosting the trade fair, which he described as a vital platform for business networking and investment drive.

The NIMASA plays a key role in promoting the Blue Economy in Nigeria with its promotional responsibilities, being part of its mandate to regulate maritime activities and ensure sustainable use of ocean resources.