The Women’s International Shipping and Trading Association (WISTA) Nigeria has congratulated the Federal Ministry of Marine and Blue Economy and the Nigerian Maritime Administration and Safety Agency (NIMASA) on the commissioning and official launch of the Cabotage Vessel Financing Fund (CVFF) Application Portal, describing it as a milestone for transparency and access to financing in the maritime sector.
In a statement signed by its President, Dr. Odunayo Ani, WISTA Nigeria said the launch marked a significant step towards deepening confidence in the administration of the CVFF and expanding opportunities for industry stakeholders, particularly women-owned maritime businesses.
Ani, speaking on behalf of women maritime associations in the country, commended the Minister of Marine and Blue Economy, His Excellency, Adegboyega Oyetola, CON, for providing strategic leadership and policy direction that prioritises institutional reforms and digital innovation in the sector. She also lauded the Director-General of NIMASA, Dr. Dayo Mobereola, for driving the process that culminated in the deployment of the application portal.
According to her, the CVFF portal represents a shift towards openness, efficiency and fairness in the disbursement process, noting that technology-driven platforms would help eliminate bottlenecks, reduce discretion and ensure that qualified Nigerian operators can access much-needed funding to grow indigenous shipping capacity.
WISTA Nigeria expressed optimism that the portal would promote inclusiveness, support capacity development and enhance local participation in coastal and inland shipping in line with the objectives of the Cabotage Act. The association urged stakeholders to embrace the initiative and work collaboratively to ensure the CVFF achieves its intended purpose of strengthening Nigeria’s maritime economy.
President, WISTA Nigeria
The group reaffirmed its commitment to supporting policies and programmes that advance sustainable growth, gender inclusion and professionalism within the Nigerian maritime industry.
This milestone marks a significant advancement in our sector, a forward-looking initiative that enhances transparency, promotes ease of access, and strengthens confidence among stakeholders. It reflects strong leadership and a shared commitment to driving efficiency, inclusiveness, and sustainable growth across the marine and blue economy landscape.
We commend the Honourable Minister and the Director-General for their strategic vision and dedication to implementing practical solutions that respond to longstanding needs in the industry.
The commissioning of this portal is a testament to deliberate efforts to modernise processes, deepen stakeholder engagement, and unlock new opportunities for operators and investors alike.