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.

Maritime

MWUN Raises Alarm Over Port Security Lapses In Lagos

Published

16 hours ago

March 30, 2026

The Tide

The Maritime Workers Union of Nigeria (MWUN) has raised alarm over poor policing of Lagos Port waterfronts

The President General MWUN Francis Bunu said this when

members of the Shipping Correspondents Association of Nigeria (SCAN) visited the union’s headquarters ahead of the 2026 Dockworkers’ Day.

He described attacks on vessels at berth as unacceptable in a regulated port environment, stressing that such incidents undermined confidence in Nigeria’s maritime sector.

According to him, marine police are mandated to secure berthed vessels through effective patrols and surveillance across port waterfronts.

“Why will a vessel berth and people come across the water in numbers to attack it?.

“These vessels are foreign-owned. How do they want Nigeria to be viewed in the international community?” Bunu said

The President said such breaches revealed lapses in coordination among security agencies, warning that, “urgent action was needed to restore confidence.

“Somebody is certainly not doing their job. We cannot have these attacks without decisive intervention from responsible agencies,”

Bunu reacted to a recent breach at Eko Support Terminal, where unidentified assailants reportedly attacked a berthed vessel last week.

He said the incident heightened concerns among ship operators and port users about safety within Nigerian ports.

The MWUN President warned that repeated attacks at berths could discourage international shipping lines and worsen Nigeria’s maritime risk profile.

He called for stronger security presence around port berths and waterfronts, stressing that such insecurity raises broader concerns about territorial waters.

Bunu urged security agencies and port authorities to review surveillance and patrol systems to prevent further attacks and reassure global operators.

Earlier, President of SCAN,Mr Moses Ebosele, commended Bunu for protecting workers’ interests and supporting industry growth.

Ebosele said the visit was part of preparations for the 2026 Dockworkers’ Day celebration organised by the association.

He appealed for support from maritime workers to ensure the success of the event.

Ebosele said this year’s celebration would emphasise environmentally friendly practices and modern technologies in Nigerian seaports.

According to him, the theme, ‘Green Ports: Sustainable Practices for Dockworkers,’ will guide discussions among key maritime stakeholders.

He added, the initiative aimed to improve environmental performance while sustaining economic viability and maritime trade.

Ebosele said participants would also explore dockworkers’ contributions to the economy and strategies for strengthening their role in a green economy.

By: CHINEDU WOSU

Maritime

Nigerian Navy Plans CMTF To Safeguard GOG

Published

16 hours ago

March 30, 2026

The Tide

The Nigerian Navy has stepped up efforts to strengthen regional maritime security with plans to establish a Combined Maritime Task Force (CMTF), positioning it as a multinational initiative to safeguard the Gulf of Guinea GOG

Navy said the collaboration would enhance global shipping safety.

The Chief of the Naval Staff, Vice Admiral Idi Abbas, said this in a statement signed by Navy Captain Abiodun Folorunsho, Director of Naval Information and made available to Newsmen

Vice Admiral Idi Abbas who received the Danish Ambassador to Nigeria, Jen Ole Bach Hansen, at Naval Headquarters, Abuja, reaffirmed Nigeria’s leadership role in driving a coordinated multinational maritime security framework in the Gulf of Guinea, a critical corridor for international trade.

Abbas stressed the region remains vital to global shipping, noting that countries like Denmark depend significantly on its sea lanes for commerce.

Vice Admiral Abbas disclosed that the proposed CMTF, expected to commence operations by mid-2026, would bring together “like-minded nations” to improve maritime domain awareness, boost joint response capabilities, and consolidate recent gains against piracy and other maritime threats in the region.

He called for robust Danish support in both the operationalisation and long-term sustainability of the initiative, describing such collaboration as crucial to maintaining security and stability within the Gulf of Guinea.

The Naval chief also extended an invitation to the Danish Navy to participate in the Nigerian Navy’s forthcoming International Fleet Review, a move aimed at strengthening interoperability and deepening naval cooperation between both countries.

Earlier Ambassador Hansen reaffirmed Denmark’s commitment to expanding its defence and maritime partnership with Nigeria under its Africa Strategy.

He noted that bilateral relations between both countries, particularly in maritime security, have witnessed significant progress since 2024.

The envoy acknowledged Nigeria’s strides in improving maritime security and expressed Denmark’s readiness to deepen collaboration in pursuit of shared security objectives in the Gulf of Guinea.

Both sides reiterated their commitment to sustained strategic cooperation, with a shared goal of ensuring a secure and stable maritime environment that supports regional and global economic activities.#

By: CHINEDU WOSU

Maritime

NNS Hands Over Two Suspected Stowaways to Immigration Service

Published

16 hours ago

March 30, 2026

The Tide

The Nigerian Navy, through the Nigerian Navy Ship (NNS) BEECROFT, has handed over two suspected stowaways rescued from a merchant vessel, MV Seaspan Lahore, to the Nigeria Immigration Service (NIS).

The suspects were formally transferred to DSI Eneji Emmanuel Ochokpa of the Lagos Ports/Marine Command in Apapa, Lagos.

According to Naval Authorities, the individuals were discovered in the early hours of Thursday, March 19, 2026, concealed within the rudder compartment of the vessel during routine security checks by NNS BEECROFT personnel.

The ship was reportedly navigating near the Lagos Fairway Buoy at the time of the discovery.

The Navy said the suspects were safely extracted and taken to NNS BEECROFT for preliminary investigations.

They were identified as Abdullahi Yakubu, 36, described as a repeated offender, and Omoniyi Afotona, 25.

Both suspects were believed to have gained unauthorized access to the vessel at Apapa Port before its departure.

A stowaway is defined as an individual who secretly boards a vessel or aircraft to travel illegally without authorization, often exposing themselves to grave danger.

The Navy used the incident to caution against irregular migration, urging parents, guardians, and community leaders to educate young people on the risks and legal implications of attempting to travel abroad by hiding on ships.

It also advised Nigerians seeking opportunities overseas to pursue lawful migration channels.

Reaffirming its commitment, NNS BEECROFT stated that it will continue to align with the strategic directive of the Chief of the Naval Staff, Vice Admiral Emmanuel Ikechukwu Ogalla, to maintain a professional and responsive naval force capable of protecting Nigeria’s maritime domain and supporting national security objectives.##

By: CHINEDU WOSU