As part of efforts to enhance capacity in the Nigerian maritime sector, the management of the Nigerian Maritime Administration and Safety Agency (NIMASA) and the Bank of Industry (BOI) have initiated discussions on potential partnerships, including the disbursement of the Cabotage Vessel Finance Fund (CVFF).
The Director General of NIMASA, Dr. Dayo Mobereola, represented by the Executive Director of Maritime Labour and Cabotage Services, Mr. Jibril Abba, made this disclosure during a visit by the Management of the Bank of Industry, led by Executive Director of Large Enterprises, Mrs. Ifeoma Uz’Okpala.
Recall that the BOI has been a strategic partner in managing the Nigerian Content Intervention (NCI) Fund for the Nigerian Content Development & Monitoring Board (NCDMB) and successfully disbursed over $350million whereas NIMASA’s CVFF is yet to be disbursed.
The NIMASA Director General said; “In addition to safety, security, and maritime labor, the agency’s mandate encompasses capacity development aimed at growing the sector.”
He also reaffirmed the agency’s commitment to collaboration as a vital tool for achieving its mandate, stressing that the aim is to actualize the vision of the Federal Government to reposition the maritime sector, especially with the creation of the Ministry of Marine and Blue Economy.
On her part, the Executive Director of Large Enterprises at BOI, Mrs. Uz’Okpala, affirmed the Bank’s readiness to support NIMASA.
She also emphasized the importance of collaboration in implementing a robust capacity-building initiative that will contribute to economic growth in Nigeria.
Bank of Industry Limited is Nigeria’s oldest and largest Development Finance Institution (DFI) currently in operation. It is owned by the Ministry of Finance Incorporated (MOFI) Nigeria (94.80%), the Central Bank of Nigeria (CBN) (5.19%) and private shareholders (0.01%).
