Oyetola Confirms 7,059 Nigerian Seafarers had been Placed Onboard Vessels
Minister of Marine and Blue Economy, Adegboyega Oyetola
–Directs NIMASA, PLIs to Fast-Track CVFF Disbursement
–As 20 out of 92 CVFF Applications Await Approval
The Honourable Minister of Marine and Blue Economy, Dr. Adegboyega Oyetola has disclosed that a total of 7,059 Nigerian seafarers have so far been placed onboard vessels to acquire seatime experience.
This is even as he has directed the Nigerian Maritime Administration and Safety Agency (NIMASA) to work closely with the 12 approved Primary Lending Institutions (PLIs) to accelerate the disbursement of the Cabotage Vessel Financing Fund (CVFF) to qualified Nigerian shipowners.
In a statement issued by his Special Adviser, Dr. Bolaji Akinola, on Sunday, Oyetola said significant progress had been made in processing applications under the CVFF framework. He disclosed that NIMASA had received 92 funding applications, with 20 already submitted to the PLIs and one application reviewed and forwarded for approval.
The Minister said the ship acquisition initiative has the potential to generate more than 30,000 direct and indirect jobs across shipyards, marine engineering firms and maritime logistics companies, while strengthening Nigeria’s domestic ship-owning and shipbuilding ecosystem.
Oyetola said the Federal Government’s decision to commence the disbursement of the CVFF followed President Bola Ahmed Tinubu’s authorisation to address the long-standing financing needs of domestic maritime operators and unlock the economic potential of Nigeria’s blue economy.
Beyond vessel financing, Oyetola said the Federal Government was also investing heavily in the development of Nigerian seafarers, with the Ministry, through its agency NIMASA, expanding training, certification and welfare initiatives to create greater opportunities for maritime professionals.
He disclosed that 222 seafarers had been trained free of charge in basic and advanced professional courses, while 333 cadets had completed their academic training and been awarded degrees.
He said under the Nigerian Seafarers Development Programme (NSDP), 135 cadets had successfully completed the programme and obtained their Certificates of Competency (CoC).
The Minister further disclosed that a total of 7,059 Nigerian seafarers had been placed onboard vessels to acquire seatime experience.
According to Oyetola, these interventions reflect the Federal Government’s broader commitment to building a competitive maritime workforce, strengthening indigenous capacity and ensuring that Nigerians are positioned to benefit directly from the opportunities created by the blue economy.
