The Shipowners Association of Nigeria, last week, elected a new President, Dr. Mcgeorge Onyung, who promised to ensure the disbursement of the Cabot age Vessels Finance Fund (CVFF).
The CVFF is a two per cent contribution by indigenous ship-owners for every contract ship-owners execute and is meant for the development of cabotage fleet and local shipping capacity but it has slightly over-shot $100
million.
However, speaking after the election, the newly elected president said the association would engage the Nigerian Maritime Administration and Safety Agency and the Federal Ministry of Transportation over the disbursement of the fund.
According to him, the intervention fund was created for the benefits of shipowners and it must be disbursed for their use.
He said, “The CVFF is created for the benefit of indigenous shipowners and the fact that it had not been disbursed means something needs to be fine-tuned. So I will come back with my team to look at what are the possibilities and what is the real nagging problem so that we can address it for a win-win situation.
“It is not my job to ensure CVFF is disbursed but I believe the government is working on the disbursement. We will create a team that will address all issues that affect our members and the CVFF is one of them. We will look at the best way to ensure that it is disbursed to our members.”
Onyung, who further disclosed that the task ahead of the new executive was enormous, supported NIMASA’s five-year waiver cessation plan for the actualisation of Cabotage Act.
“I believe waiver cessation is what is being thought of and, of course, NIMASA is the authorised agency and has thought about it very well,” he said.
The newly elected president also promised to build an association that would engage stakeholders in the sector constructively.
He said, “The task for the future is very enormous. I want to see a smoother relationship with our stakeholders and regulators; the shipping industry to be moved to the next level and creating a formidable team that will engage stakeholders. l will work with them and engage them positively.
“On Cabotage, I believe, going forward, it will be made to work. It is a good thing but we have to sit and go back to the drawing board and see which area we can fine-tune the rough edges and see areas that can be smoothened for the benefit of the maritime industry.”
Also speaking, the immediate past president of SOAN, Engr. Greg Ogeifun, rued the non-disbursement of the CVFF by the government.
He said the non-disbursement had affected activities of shipowners to compete favourably in the
sector.
He stated, “I think the Nigerian maritime sector has grown tremendously and the Nigerian Content Act is working with NIMASA to give opportunities to Nigerians who want to be ship owners but the challenge still remains that the fund that is statutorily designed to help in the acquisition of ships by Nigerians is still being locked up by NIMASA and the Ministry of Transport.
“That fund has to be released to be able to allow Nigerians acquire the ships and be able to take their rightful position, otherwise the opportunities for foreigners will continue to be there,” he advised.
