. . . Warns against disbursement with jobs for vessels

By Godwin Oritse

THE Nigerian Indigenous Ship-owners Association, NISA, has requested for the re-introduction of cargo allocation for local ship owners and operators so that the disbursement of the Cabotage Vessel Financing Fund, CVFF, can be sustained for a long time.

Speaking to Vanguard Maritime Report, President of NISA, Mr. Sola Adewumi, warned against disbursing the fund without making jobs available for local shipping companies as this could lead to loss of fund which could also lead to a waste of these assets.

Adewumi also advised that Cabotage waivers must be stopped adding that granting waivers after five years of the enactment of the Cabotage Act is against the law.

He explained that the Cabotage Act says that foreign elements doing Cabiotage trade (local or coastal marine transportation) in Nigeria must hand over to local shipping firms after years of the law but the foreigners have refused to let go because there are Nigerian officials that are assisting them to perpetuate their continued stay in the trade.

He added: “Even if the Fund is disbursed and the ship owners buy vessels with the money, without jobs, they will not be able to pay back and these assets will become wasted. So the issue of waivers must be looked into for the CVFF to be effective’’.