Cabotage Financial Fund Will Be Disbursed Soon – FG

 Minister of Transportation, Mu’azu Jaji Sambo

The Minister of Transportation, Mu’azu Jaji Sambo, on Friday said the federal government would soon disburse the Cabotage Vessel  Financial Fund (CVFF).




The disbursement of the fund has been hanging for a very long time and dashing the hope of ship owners.

Sambo, who dropped the hint in Port Harcourt at the commissioning of Rivers crafts and patrol boats at the Nigeria Inland Waterways Authority’s (NIWA) office in Port Harcourt, said he was worried that the fund was yet to be disbursed.

He said the fund was meant to build local capacity and contents, saying the CVFF would be released as soon as possible so that those it is meant for would get it.

He said the ministry would give all the support required by the NIWA to develop waterways across 28 states in Nigeria to ease local transportation.

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Earlier in his welcome address, the managing director of the NIWA, Dr Goerge Moghalu, said the newly acquired Rivers craft and patrol boats would enhance the operations of the authority.

He said the Rivers craft would facilitate easy and affordable transportation of goods across the waterways.

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