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Nigeria to end foreign shipping waivers, CVFF to attract single-digit interest rate

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The Minister of Marine and Blue Economy, Adegboyega Oyetola, has announced plans to end the issuance of waivers under the Coastal and Inland Shipping Act 2003. Mr Oyetola said this on Sunday in a statement, following a meeting with a delegation from NNPC Shipping, Stena Bulk, and Caverton Offshore. The meeting took place at the Ministry in Abuja and reaffirmed Mr Oyetola’s commitment to reversing the over-reliance on waivers for foreign vessels in Nigerian waters. The visit coincided with the official unveiling of Unity Shipping World, a new joint venture by NNPC Shipping, Stena Bulk, and Caverton Offshore Support Group. The joint venture seeks to develop a strong tanker operation capable of transporting crude oil, refined products, and LNG across Nigeria, West Africa, and internationally.
The Cabotage Act restricts coastal shipping to Nigerian-owned, Nigerian-crewed, and Nigerian-built or -flagged vessels. However, waivers have frequently been granted to foreign vessels due to limited local capacity, undermining domestic shipping growth and competitiveness. Mr Oyetola criticised this long-standing trend, stating it hindered local shipping firms’ development and reduced opportunities for Nigerian maritime professionals. He said the decision aimed to strengthen the maritime sector, create jobs, and increase indigenous participation in the nation’s shipping industry. To support this policy shift, the minister instructed NIMASA to begin the disbursement process for the Cabotage Vessel Financing Fund. The fund, generated through cabotage levies, is designed to help Nigerian shipowners acquire vessels and expand their operational capabilities.
Mr Oyetola reiterated the urgency of disbursing the fund, calling it vital for empowering local operators in the face of reduced foreign waivers.
“As the waiver era ends, supporting indigenous shipowners becomes even more crucial,” he stated. He also reaffirmed the government’s plan to launch a national shipping carrier through a Public-Private Partnership, enhancing Nigeria’s maritime influence regionally. Caverton Offshore’s CEO, Bode Makanjuola, described the new joint venture as transformative for Nigeria’s maritime industry. He said USW would provide efficient, reliable, and sustainable marine transport services for the country’s growing energy needs. According to him, the company plans to build a modern fleet by acquiring new and existing vessels while focusing on cost and operational efficiency. Mr Makanjuola noted that the fleet would primarily support NNPC’s logistics but also serve other oil producers and energy traders. He stressed USW’s commitment to sustainability, safety, and training for Nigerian seafarers to ensure long-term industry growth.
Panos Gliatis, the managing director of NNPC Shipping, said the alliance would enhance domestic refining and support Nigeria’s global energy logistics role. Stena Bulk president and CEO Erik Hånell echoed this, highlighting the alignment of the venture with his company’s global strategy. “We are committed to operational excellence and growth in key energy markets. This partnership boosts Nigeria’s shipping and energy sectors,” Mr Hånell said.
Meanwhile the Cabotage Vessel Financing Fund (CVFF) to be disbursed by the Federal Ministry of Marine and Blue Economy through the Nigerian Maritime Administration and Safety Agency (NIMASA), shall attract a single-digit interest rate. The Agency’s Director General, Dr. Dayo Mobereola, who announced this today at a one-day interactive forum organized for stakeholders on the operationalization of the CVFF, also disclosed a two-year moratorium and an eight-year tenure for the facility, which will be disbursed through twelve (12) Primary Lending Institutions.
 Other issues being addressed by NIMASA in collaboration with the PLIs include insurance, fund security, flexible tenures, and the reduction of sundry fees to the barest minimum at subsidized rates. Dr. Mobereola emphasized the importance of the CVFF to the development of the Nigerian maritime sector, while acknowledging the role of President Bola Ahmed Tinubu, GCFR, through the Honourable Minister of Marine and Blue Economy, Adegboyega Oyetola, CON, in ensuring the immediate disbursement of the funds.
 In his words: “I am delighted to announce that under President Bola Ahmed Tinubu’s leadership, and with the support of the Honourable Minister of Marine and Blue Economy, HE Adegboyega Oyetola, we have secured the necessary approvals for disbursement. This disbursement will be transformative for our industry by empowering indigenous shipowners to compete favourably, boost local content in the maritime sector, create employment opportunities for Nigerian seafarers, and strengthen ancillary maritime services.”  Mobereola also emphasized the need for transparency in the entire process. “To ensure transparency and accountability, we established a dedicated Secretariat Cabotage Unit, developed clear eligibility criteria, and partnered with 12 Primary Lending Institutions to facilitate access to the fund.” In his remarks, the President of the Nigerian Chamber of Shipping, Aminu Umar, and other industry stakeholders commended the Minister of Marine and Blue Economy, Adegboyega Oyetola, and the Management of NIMASA for their efforts in facilitating the disbursement of the funds. Former Director General of NIMASA, Temisan Omatseye, who had previously doubted the realization of the CVFF, also joined others in commending the NIMASA Management and the Honourable Minister of Marine and Blue Economy.

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Maritime labour e-platform to boost competitiveness—NIMASA  

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The Nigerian Maritime Administration and Safety Agency (NIMASA) has expressed confidence that the Maritime Labour E-Platform would boost the sector’s competitiveness as it hosted a workshop to sensitize users of the portal through practical demonstrations and interactive sessions. Held in Lagos, the workshop practicalized the process of registering, verifying and issuing identity cards to seafarers and dockworkers via the NIMASA portal (@nimasa.gov.ng). Practical support measures, including training, cybersecurity and planning a phased rollout to ensure smooth adoption, were also discussed.

Speaking at the event, the NIMASA Executive Director, Maritime Labour and Cabotage Services, Mr. Jibril Abba stressed the importance of the digital platform to achieving global competitiveness, stating that “our digital transformation is underway. This year we launched the Maritime Labour E-Platform, building on our 2022 dockworkers registration success.

It is a modern, integrated system for registering and verifying seafarers, dockworkers, employers, and other stakeholders.” Represented by the Director, Maritime Labour Services Department, Mr. Ibrahim Umar Sidi, the Executive Director further noted that “by centralizing registration and issuing secure biometric ID cards, it cuts paperwork, speeds up processing, and gives us reliable real-time data. This helps us meet our obligations under the Maritime Labour Convention and boosts Nigeria’s competitiveness in the global Blue Economy.”

He also emphasized that the actualization of the digital platform was in line with the Agency’s statutory obligations, stating that, “This initiative directly fulfils our mandate under Section 27(1)(a) of the NIMASA Act 2007, which charges us with the duty to document and maintain a register of every maritime worker and operator. It also aligns with our obligations under the Maritime Labour Convention (MLC) 2006, often called the “Seafarers’ Bill of Rights for promoting fair working conditions, health protections, and social security.

In its efforts to build a smarter, more transparent, and efficient maritime sector, the Federal Government launched the Maritime Labour E-Platform, during an event in June marking the 2025 Day of the Seafarer in Port Harcourt, Rivers State.  The platform, which is a digital solution designed to revolutionize the governance of maritime labour in Nigeria, was described by the Honourable Minister of Marine and Blue Economy, Adegboyega Oyetola at the time as “a transformative tool for labour administration”.

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NIMASA advocates effective port state control for safer shipping

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Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Dr. Dayo Mobereola has noted that effective Port State Control (PSC) is one of the most potent tools of ensuring global safety and maintenance of environmental standards in shipping.

Dr. Mobereola who said this at a 5-day Regional Train the Trainer Workshop on Port State Control (PSC) for Member States of the Abuja Memorandum of Understanding (MoU), with the support of the International Maritime Organization (IMO), further emphasized that the quality of the professionals who implement PSC determines its overall success. Represented by the Executive Director, Operations, Engr. Fatai Taiye Adeyemi, the DG described the workshop as a reflection of Africa’s shared commitment to safer, cleaner, and more efficient shipping.

“Your presence here demonstrates our collective resolve to strengthen efficient maritime governance, improve safety standards, and enhance environmental protection across West and Central Africa,” he said. The DG commended the IMO, the Abuja MoU Secretariat, and all technical partners for their continued support towards capacity-building, regional cooperation, and the promotion of maritime safety in Africa.

Delivering a goodwill message, the representative of the IMO, Captain Ahmed Sewelam, reaffirmed the Organization’s unwavering commitment to supporting Member States through its technical cooperation programme to strengthen effective and harmonized Port State Control regimes globally. “Effective regional cooperation and harmonized PSC practices are essential to eliminate substandard shipping and promote consistency across the region,” Captain Sewelam said. He said that the workshop provides a unique platform for delegates to strengthen their collective capacity as Port States, while discussing key elements such as inspection procedures, reporting, and strategies for improved performance noting that “together, we can strengthen Port State Control implementation and advance maritime safety and sustainability in the region”.

On his part, the Secretary General of the Abuja MoU, Captain Sunday Umoren, reiterated that capacity building remains a top priority of the Abuja MoU. He noted that effective Flag State control directly influences the quality of Port State Control operations, emphasizing the importance of strong national systems. “We must continue to build capacity, strengthen cooperation, and share experiences to ensure that our region maintains high standards of maritime safety and compliance,” he said.

The Train-the-Trainer Workshop on Port State Control under the Abuja MoU represents another milestone in NIMASA’s ongoing efforts to strengthen maritime safety, promote environmental protection, and consolidate Nigeria’s leadership role in advancing regional maritime development. The workshop, which is being held in Lagos, has brought together delegates from 22 countries across West and Central Africa to deepen capacity, harmonize standards, and strengthen maritime safety oversight across the region.

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20 ships with food items, petroleum products expected in Lagos—NPA

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The Nigerian Ports Authority (NPA) announced on Monday that about 20 ships laden with food items, petroleum products, and other goods are expected to arrive at Apapa and Tin-Can Island ports in Lagos. In its shipping position for Monday, the authority disclosed that the ships will arrive in Lagos from November 10 to 12.

According to the NPA, out of the 20 expected ships, four contain crude oil, four contain petrol, three others are to arrive with aviation fuel, while the remaining nine ships are to arrive with diesel, gas oil, and different products.

The NPA also hinted that three ships had arrived at the ports and were waiting to berth with general cargo and bulk urea. Meanwhile, it says that 11 ships are currently at the ports discharging general cargoes, bulk wheat, bulk sugar, containers, and bulk gas. NAN

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