According to Daily Trust, Nigeria’s maritime industry is booming as more than 100 local shipowners compete for a piece of the $700 million Cabotage Vessel Financing Fund (CVFF).Soon after the CVFF application portal went live, the competition for the fund intensified.The Cabotage Vessel Financing Fund (CVFF) Application Portal was formally launched and unveiled in January 2026 by Dr. Adegboyega Oyetola, Minister of Marine and Blue Economy, according to a Daily Trust report. This came five months after the Nigerian Maritime Administration and Safety Agency (NIMASA) failed to meet the August 2025 deadline for fund disbursement.
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