General
Shipping Stakeholders Laud Move to Disburse Cabotage Fund
By Adedapo Adesanya
Shipowners have commended the Minister of Marine and Blue Economy, Mr Adegboyega Oyetola, for the directive to the Nigerian Maritime Administration and Safety Agency (NIMASA) to commence the process for the disbursement of the Cabotage Vessel Financing Fund (CVFF).
Last week, Mr Oyetola instructed NIMASA to initiate the long-awaited disbursement process for the CVFF.
The CVFF, established under the Coastal and Inland Shipping (Cabotage) Act of 2003, was designed to empower Nigerian shipping companies through access to structured financing for vessel acquisition.
However, successive administrations failed to operationalize the fund—until now. This directive marks a significant shift from over two decades of administrative stagnation and ushers in a new era of strategic repositioning of Nigeria’s indigenous shipping.
Several stakeholders including Mr Greg Ogbeifun, the Managing Director of Starzs Marine and Engineering Limited, said the directive is a welcome development that will further spur the growth of the sector.
He also urged the government to ensure that the requirements of the act are followed.
He said that the minister is acting accordingly by taking the bull by its horns through the disbursement of the fund.
“The minister’s move is commendable. The important thing is that due processes, according to the requirements of the Act, have to be followed. I have looked at the marine notice that was sent out, and I think it’s in line with the requirements of the Act,” Mr Ogbeifun said.
He mentioned that, looking at the previous guidelines, there is a reason to believe that the minister is acting accordingly.
“But I don’t know if the requirements of the Act, as it relates to the legislative part of government, are followed,” he stated.
Mr Ogbeifun reiterated that the directive would unlock the long-standing issue of disbursement of the CVFF.
On his part, the President of SOAN, Mr Sonny Eja, applauded Mr Oyetola, stating that the decision was a welcome development.
Mr Eja mentioned that aside from being long overdue, partnering with the Bank of Industry for the disbursement is another feat.
“I would say this is a welcome development, though it’s long overdue. I have always said to people, don’t blame yourself for not doing something yesterday or for not doing something last week or last month, the best time to start is now, and so it’s a welcome development.
“I am equally excited about the fact that they are partnering with Bank of Industry (BOI) in respect of this fund. For me, to hear that they are going to work with BOI to disburse this fund is quite a good development,” Mr Eja added.
By Adedapo Adesanya
Nigeria is eyeing stronger diplomatic and strategic ties when it comes to sustainable development as it participates in the 2026 edition of Abu Dhabi Sustainability Week (ADSW).
President Bola Tinubu arrived in Abu Dhabi, United Arab Emirates (UAE), on Sunday. His plane landed at the Presidential Wing of Zayed International Airport at exactly 11:30 pm local time.
He was received by Sheikh Shakhboot Nahyan Al Nahyan, UAE Minister of State for Foreign Affairs; the UAE Ambassador to Nigeria, Salem Saeed Al-Shamsi; Nigeria’s Minister of Foreign Affairs, Ambassador Yusuf Maitama Tuggar; and members of the Nigerian diplomatic mission in Abu Dhabi.
Several other ministers, including the Minister of Budget and Planning, Mr Atiku Bagudu; the Minister of Industry, Trade and Investment, Mrs Jumoke Oduwole; and the Director-General of the National Intelligence Agency, Mr Mohammed Mohammed, welcomed President Tinubu at his hotel.
President Tinubu arrived in Abu Dhabi from Europe, where he spent part of his end-of-year break, engaging in fruitful discussions with Rwandan President Paul Kagame and French President Emmanuel Macron, according to a statement by the presidency.
The 2026 Abu Dhabi Sustainability Week, with the theme The Nexus of Next, All Systems Go, is a global platform that brings together world leaders, policymakers, investors, and experts to advance dialogue and action on sustainable development, climate action, energy transition, and inclusive economic growth.
This visit further reinforces the strong diplomatic and economic ties between Nigeria and the United Arab Emirates (UAE), while positioning Nigeria as an active contributor to global conversations on sustainable development.
By Modupe Gbadeyanka
The failure of the Independent National Electoral Commission (INEC) to account for about N55.9 billion earmarked for the purchase of some materials for the 2019 general elections has forced the Socio-Economic Rights and Accountability Project (SERAP) to file a lawsuit against the commission.
In the suit number FHC/ABJ/CS/38/2026 filed last Friday at the Federal High Court in Abuja, SERAP asked the court for an order of mandamus to compel INEC to disclose the names of all contractors paid the sum of money.
It was claimed that the N55.9 billion was meant for the purchase of smart card readers, ballot papers, result sheets and other election materials for the 2019 general elections, which produced the late Mr Muhammadu Buhari as President for a second term in office.
SERAP is relying on the latest annual report published by the Auditor-General on September 9, 2025, to ask for the use of the funds, which is said to be missing or diverted.
The organisation argued that the electoral umpire “must operate without corruption if the commission is to ensure free and fair elections in the country and uphold Nigerians’ right to participation.”
“INEC cannot ensure impartial administration of future elections if these allegations are not satisfactorily addressed, perpetrators including the contractors involved are not prosecuted and the proceeds of corruption are not fully recovered,” a part of the statement issued by the group stated.
“INEC cannot properly carry out its constitutional and statutory responsibilities to conduct free and fair elections in the country if it continues to fail to uphold the basic principles of transparency, accountability and the rule of law.
“These allegations also constitute abuse of public office and show the urgent need by INEC to commit to transparency, accountability, clean governance and the rule of law,” it further declared.
By Adedapo Adesanya
The Ministry of Finance has directed all shipping companies and airlines operating in Nigeria to submit their manifests through the Single Window Project (SWP) as part of efforts to strengthen cargo tracking and transparency.
The submission of shipping manifests before the change of policy was handled exclusively by the Nigeria Customs Service (NCS) for onward cargo processing and port clearance.
However, following a memo from late last year signed by the Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, all shipping firms and airlines were directed to integrate with the National Single Window platform to ensure seamless Manifests submission.
“I would like to bring to your attention that His Excellency, President Bola Ahmed Tinubu inaugurated the National Single Window (NSW) Project on the 16th of April 2024.
The NSW Project aims to streamline and automate import and export processes at Nigeria’s entry & exit ports, with the dual goals of enhancing trade facilitation and increasing government revenue.
“By integrating the operations of multiple government agencies involved in trade processes on one platform, the NSW platform will ensure faster clearance of goods and services, improve operational efficiencies at the imports and significantly reduce bureaucratic bottlenecks.
“Key components of the Single Window as defined by the World Trade Organisation (WTO) and World Customs Organisation (WCO) include: (a) a single-entry point i.e. traders, shipping lines, airlines and other stakeholders should submit all required import and export documentation through a single-entry point on a centralized digital platform, and (b) single submission i.e. all documentation should only be submitted once and data only entered once.
“As a result, the NSW Platform will be the single-entry point of submission for all Sea and Air Manifests. Therefore, all shipping lines and airlines are therefore directed to integrate with the NSW Platform to ensure seamless Manifests submission,” parts of the memo read.
The Comptroller-General of the NCS, the chairman of the Nigerian Revenue Service (NRS), the Managing Director of the Nigerian Ports Authority (NPA), the Managing Director of the Federal Airports Authority of Nigeria (FAAN) and the Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA) were copied in the memo.
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