Maritime

Indigenous Shipowners Scamper For $100m Cabotage Fund

Published

16 years ago

July 9, 2010

Following the Cabotage Vessel Financing Fund (CVFF) guidelines prepared by the federal government and approved by the National Assembly, about 92 applicants have indicated interest to access the much awaited $100 million fund.

Impeccable source told The Tide that the 92 applicants who are mainly indigenous shipowners that have the statutory right to access the funds under the CVFF guidelines have already filed their applications through the four Primary Lending Institutions (PLIs) selected by the management of Nigerian Maritime Administration and Safety Agency (NIMASA).

The PLIs which are commercial banks expected to guarantee successful disbursement and utilisation of funds, comprise Skye Bank Plc, Equatorial Trust Bank Plc (ETB), Diamond Bank Plc, and Fidelity Bank Plc.

A breakdown of the figures showed that not fewer than 23 applicants applied to access the CVFF through Diamond Bank Plc, Skye Bank Plc and Equatorial Bank Plc, while 22 applied through Fidelity Bank.

It was gathered that while total request by applicants amount to a whopping &1 billion, the four PLIs have only about $100 million to give out as loan.

Though most of the applicants are ship owners who are also members of the Indigenous Shipowners Association of Nigeria (ISAN), some of the applicants are “portfolio earning ship owners” fronting for top politicians in the corridors of power who also want a piece of the cake.

It was further gathered that the $100 million would be pooled together by the management of NIMASA, commercial banks and the benefiting shipping companies, in the ratio of 50 per cent, 35 per cent and 15 per cent respectively.

The Tide source said that the Director General of NIMASA, Temisanre Raymond Omatseye, who confirmed the development, stated that the level of funding that is available to indigenous ship-owners is a hindrance to fleet expansion and capacity development. Omatseye noted that paucity of funds has made shipping business a difficult venture in the country. He explained that the management of the agency has concluded plans to encourage access to offshore facilities.

His words “we have accessed $200 million and it is available to Nigerian shipowners right now. However, you know that as a government agency, we cannot go ahead and support this kind of thing without the approval the relevant authorities we are in the process of securing the approval” He said that the agency is guaranteeing, saying that it was only a pool of fund, which will be added to the maritime infrastructural fund.

Business

Navy Hands Over Five Suspected Stowaways to NIS

Published

2 days ago

June 29, 2026

The Tide

The Nigerian Navy Ship (NNS) Beecroft has handed over five suspected stowaways to the Nigeria Immigration Service (NIS)

The suspects were discovered aboard a merchant vessel, MT Chinafrie Happiness, in an attempted illegal voyage out of the country.

This was contained in a statement issued by Sub Lieutenant A.O. Ajayi, Naval Assistant to the Commander, NNS Beecroft.

The statement said the Handover is part of ongoing inter-agency collaboration aimed at strengthening maritime security, curbing illegal migration, and enhancing safety within Nigeria’s maritime environment.

According to the statement, the suspects were discovered on Wednesday, June 17, 2026, concealed inside the rudder compartment of the vessel while it was berthed at Tin Can Island Port in Lagos.

The five suspects were safely evacuated by Naval Personnel’s and taken to NNS Beecroft for preliminary investigation, profiling, and documentation before being transferred to immigration authorities for further action.

The statement gave their identity as Segun Samuel Boyewa (31), Kingsley Chukwu (43), Joseph Judge (33), Moses Aletor (24), and Abdullahi Danlami (31).

Preliminary findings indicated that the individuals allegedly boarded the vessel while it was docked at Tin Can Island Port with the intention of stowing away to India without valid travel documentation or authorisation.

The statement also noted that stowaway attempts pose significant risks to human life and maritime safety, as individuals often hide in hazardous compartments of vessels under extreme conditions that could lead to injury or death.

The Naval statement warned that illegal boarding of ships remains a serious maritime security challenge and called on parents, guardians, and community leaders to discourage youths from engaging in such dangerous and unlawful acts.

The statement reaffirmed the commitment of NNS Beecroft to sustained maritime security operations in line with the mission of the Chief of the Naval Staff, Vice Admiral Idi Abbas, aimed at maintaining a professional and effective naval force capable of safeguarding Nigeria’s maritime interests and supporting joint operations for national security.

Chinedu Wosu

Business

Navy Nabs 13 Black Sand Miners In Bayelsa –Impound Two Boats

Published

2 days ago

June 29, 2026

The Tide

The Nigerian Navy has arrested Thirteen 13 Black Sand miners in Bayelsa state

The Service also impounded two Wooden Boats used for the illegal operations

Director of Naval Information, Capt. Abiodun Folorunsho, said this in a statement issued to Newsmen in Abuja.

Folorunsho said with the operation, the Navy had recorded another operational success in its efforts to curb illegal exploitation of natural resources

According to Folorunsho the operation was conducted by Forward Operating Base (FOB) FORMOSO, following credible intelligence on the movement of boats suspected to be involved in illegal mining activities.

He said the intelligence revealed the boats were operating within the coastal communities of Brass Local Government Area.

“Acting on the intelligence, Naval personnel intercepted the boats at Lekeson and Liama communities, where large quantities of suspected illegally mined black sand were discovered onboard.

“A total of 13 crew members were arrested in connection with the activity,” he said.

The Naval Director of information said that the successful operation underscored the Navy’s commitment to protecting Nigeria’s maritime environment and preventing the illegal exploitation of natural resources that undermine economic development and environmental sustainability.

“The Nigerian Navy remains resolute in sustaining operations against illegal resource extraction and other maritime crimes, while maintaining security and stability within the nation’s waterways,” he said.

Folorunsho also said that the two wooden boats recovered, the black sand and the 13 suspects have subsequently been handed over to the Divisional Police Officer, Nembe Division, for further investigation and possible prosecution.

He said this was done in line with the extant procedures and directives of the Bayelsa Government.

The Naval spokesperson reaffirmed the Navy’s commitment to collaborating with relevant stakeholders and security agencies to safeguard Nigeria’s maritime resources.

Folorunsho assured that it would also ensure that the nation’s waterways remain safe and secure for legitimate economic activities.

CHINEDU WOSU

Maritime

NCS Holds Free Medical Outreach For 2,000 Daura Residents

Published

1 month ago

May 18, 2026

The Tide

The Nigeria Customs Service (NCS) has held its 7th Retreat Medical Outreach in Daura, Katsina State,

Customs said the Free medical outreach is aimed at providing free healthcare services to residents of the area.

Speaking during the event, Deputy Comptroller-General of Customs, Ahmad Tijjani-Abe, said the programme would provide general medical consultations, dental care, eye and ear care, as well as minor surgical operations for beneficiaries.

Tijjani-Abe said medical teams deployed for the exercise would also provide free medications to patients attending the outreach.

He added that the service would visit schools within the area to deworm students and distribute health kits and mosquito nets to help prevent malaria among children.

Also Speaking, Dr Ethelbert Ikechukwu, Medical Team Leader of the outreach said the exercise was part of the initiative of the Comptroller-General of Customs, which had been carried out in different parts of the country over the years.

According to him, the programme is designed to support communities where customs personnel operate by offering free medical consultations and medications to residents.

Ikechukwu further explained that patients whose conditions could not be fully managed at the outreach centre would be referred to appropriate medical facilities for further treatment.

Ikechukwu urged members of the public to take advantage of the exercise, noting that the medical teams comprised highly qualified healthcare professionals.

The outreach targets about 2,000 patients across various areas of medical care.