Stakeholders have urged policymakers to re-evaluate the allocation of over $360 million from the Cabotage Vessel Financing Fund (CVFF) to redefine Nigeria’s maritime industry and set a precedent for strategic investments in shipbuilding.
They also criticised the absence of an integrated national transport policy in the country, which they claimed hampers the development of indigenous ship acquisition capacity and financial assistance to Nigerian operations in the domestic shipping business.
This was stated at the Global Transport Policy Yearly Roundtable and Bilingual Magazine Public Launch, themed, ‘Transport Infrastructure and Strategic Policy Intervention: Building Blocks for Economic Growth’, held in Lagos.
A member of the United Nations Committee on Trade and Transport, Dr Alban Igwe, called for a strategic deployment of the CVFF to put Nigeria at the forefront of global shipbuilding.
According to Igwe, Nigeria, with over $360 million…
Read More
