The Women’s International Shipping and Trading Association (WISTA) Nigeria has congratulated the Federal Ministry of Marine and Blue Economy and the Nigerian Maritime Administration and Safety Agency (NIMASA) on the commissioning and official launch of the Cabotage Vessel Financing Fund (CVFF) Application Portal, describing the development as a major step in strengthening transparency and access within the maritime sector.
In a statement issued on behalf of women maritime associations in the country, the President of WISTA Nigeria, Dr. Odunayo Ani, said the launch of the digital portal represents a significant advancement in the administration of the CVFF, a fund that has remained a focal point of industry discourse for years.
According to WISTA Nigeria, the introduction of the application portal signals a deliberate move towards modernising processes in the maritime industry, while addressing long-standing concerns around accessibility, transparency and stakeholder confidence in the management of the CVFF. The association noted that the initiative reflects a coordinated effort by the Ministry of Marine and Blue Economy, under the leadership of the Honourable Minister, Adegboyega Oyetola, CON, and NIMASA, led by its Director-General, Dr. Dayo Mobereola, to respond to the needs of industry operators through practical and technology-driven solutions.
Dr. Ani stated that the portal is a forward-looking tool designed to simplify engagement with the CVFF, promote ease of access for eligible operators and strengthen trust in the system. She added that such digital platforms are critical to improving efficiency and inclusiveness across the marine and blue economy value chain, particularly at a time when stakeholders are demanding clearer processes and predictable outcomes.
WISTA Nigeria also commended the leadership of the Ministry and NIMASA for what it described as strategic vision and commitment to reforms that can unlock new opportunities for operators and investors. The association observed that the commissioning of the portal demonstrates a renewed focus on stakeholder engagement and institutional reforms aimed at enhancing competitiveness in Nigeria’s maritime sector.
The CVFF, established under the Cabotage Act to support indigenous shipowners through access to financing, has historically faced implementation challenges, with industry stakeholders frequently calling for transparency and effective disbursement mechanisms. The launch of the application portal is therefore being viewed by many as an important test of the government’s resolve to translate policy intentions into operational outcomes.
From the perspective of women in the maritime ecosystem, WISTA Nigeria reiterated its support for initiatives that promote equity, professionalism and innovation within the industry. Dr. Ani noted that inclusive reforms are essential to building a resilient maritime sector that can support national economic objectives under the broader blue economy framework.
She further expressed WISTA Nigeria’s willingness to continue collaborating with the Ministry of Marine and Blue Economy, NIMASA and other stakeholders to ensure that reforms such as the CVFF application portal deliver measurable benefits to industry operators and contribute to sustainable sectoral growth.
The association concluded that the successful deployment of the CVFF Application Portal could play a critical role in restoring confidence in maritime financing initiatives and positioning the sector for improved participation by indigenous operators, while aligning with the Federal Government’s broader agenda of digitalisation and economic diversification through the marine and blue economy.
