NIMASA Promises to Share N331.2 Billion to Shipowners to Acquire New Ships, Create 350 Million Jobs

The Nigerian Maritime Administration and Safety Agency’s Director General, Bashir Jamoh, said it would disburse $720 million to shipowners. He said the amount would enable them to build new ships and create over 300 million jobs Jamoh said this at UNILAG and said each shipowner would get $25 million to acquire new ships

The DG of the Nigerian Maritime Administration and Safety Agency (NIMASA), Bashir Jamoh, has stated that the agency is boosting the $2.5 trillion blue economy market by sharing the $720 million Cabotage Vessel Financing Fund (CVFF) with shipowners. Jamoh disclosed this as NIMASA prepares to dole out $25 million each to shipowners to buy ships to provide about 350 million jobs available in the blue economy.