A maritime lawyer, Barrister Osuala Nwagbara, has raised a poignant alarm over the continued non-disbursement of the Cabotage Vessel Financing Fund (CVFF) despite its pivotal role in advancing Nigeria’s Blue Economy.
Speaking during the unveiling of the “Maritime Labour Voice” magazine owned by the Maritime Workers Union of Nigeria (MWUN) in Lagos on Thursday, Nwagbara sounded a note of concern over the lingering issue of the non-disbursement of the CVFF underscoring the critical role of the CVFF in propelling Nigeria’s Blue Economy forward.
Expressing his dismay, Nwagbara highlighted the Cabotage Act’s provisions as instrumental in guaranteeing employment, ensuring a safe work environment, and securing fair wages for Nigerian seafarers.
However, he said the non-disbursement of the CVFF is a significant setback, casting a shadow on the prospects of the marine and blue economy.
The maritime lawyer called for urgent and decisive action to rectify the situation. He stressed the pivotal role of the CVFF in sustaining the momentum of Nigeria’s blue economy initiatives and lamented its negative impact on maritime workers.
Nwagbara although commended the Nigerian Maritime Administration and Safety Agency (NIMASA) for its efforts in regulating maritime labour and implementing the Deep Blue Project to enhance safety measures in the Gulf of Guinea, he called for a swift resolution to the CVFF disbursement issue to unlock the full potential of the maritime and blue economy.
Speaking also, the Chairman of the occasion, Princess Vicky Haastrup, lauded the Maritime Workers’ Union of Nigeria (MWUN) for its dedication and performance, expressing gratitude for their role in the stability and growth of the maritime sector.
She acknowledged the strategic importance of the maritime industry to Nigeria’s economic development and commended the government’s initiatives in creating the Marine and Blue Economy.
Speaking earlier the President General of the union Com. Adewale Adeyanju expressed gratitude to the eminent guests, employers, and stakeholders for their commitment to the maritime sector. He highlighted the purpose of the newly launched “Maritime Labour Voice” magazine, emphasizing its role in promoting industrial peace and representing the voices of maritime workers.
