Home BUSINESS MARITIME: Ship Owners Call On NIMASA To Release $100M Cabotage Fund

MARITIME: Ship Owners Call On NIMASA To Release $100M Cabotage Fund

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The President, Nigerian Ship-owners Association, NISA, Aminu Umar, has called on the Federal Government to intervene in delayed disbursement of the Cabotage Vessel Financing Fund to sustain shipping business.

Umar who made the call in Lagos, said there is no improvement in shipping business in the country, adding that they are still engaging NIMASA over the fund.

He said that there were many indigenous ship owners operating in different sectors of the maritime industry. He added that presently, Nigeria had more than 20 active ship owners in the downstream sector of the oil and gas sector, adding that there were over 100 ship owners operating upstream.

The ship owners have been worried over the non-disbursement of the sum of more than 100 million dollars being administered by the Nigerian Maritime Administration and Safety Agency (NIMASA).

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