{
  "id": 6018599,
  "title": "Tinubu orders release of Nigeria’s ship fund after 20 years",
  "url": "https://urgent.news/2026/09/06/tinubu-orders-release-of-nigerias-ship-fund-after-20-years",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-06T18:52:57.000Z",
  "source": {
    "name": "Nairametrics",
    "slug": "nairametrics",
    "url": "https://nairametrics.com/2026/09/06/tinubu-orders-release-of-nigerias-ship-fund-after-20-years/"
  },
  "original_language": "en",
  "account": "President Bola Tinubu has authorized the release of Nigeria's Cabotage Vessel Financing Fund (CVFF) after a 20-year period without utilization. Dr Adegboyega Oyetola, Minister of Marine and Blue Economy, announced the directive in a statement on Sunday, ordering the Nigeria Maritime Administration and Safety Agency (NIMASA) and 12 Primary Lending Institutions (PLIs) to expedite the disbursement process. The decision aims to accelerate access to the fund, enabling Nigerian shipowners to expand their participation in the maritime sector and unlock investment opportunities. Oyetola highlighted that the move is expected to boost indigenous participation in coastal and offshore shipping, ultimately creating jobs across Nigeria's maritime sector. The CVFF was established in 2005 but remained unused for over two decades, with NIMASA commencing the disbursement in April 2025 following the launch of the CVFF Application Portal in Lagos. This portal offers an improved, transparent, and structured channel for eligible shipowners to access financing. The latest authorisation is a significant step in a prolonged effort to disburse the fund to indigenous shipowners, with previous attempts dating back to December 2019 and June 2023.",
  "summary": "President Bola Tinubu has approved the disbursement of the Cabotage Vessel Financing Fund (CVFF), more than two decades after the fund was established without being accessed by Nigerian shipowners. The post Tinubu orders release of Nigeria’s ship fund after 20 years appeared first on Nairametrics .",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}