Nigeria Launches CVFF Portal to Boost Indigenous Ship Ownership

The Nigerian government, led by Adegboyega Oyetola, launched the Cabotage Vessel Financing Fund (CVFF) application portal in Lagos to promote indigenous ship ownership. The initiative aims to strengthen the maritime sector, reduce reliance on foreign vessels, create employment opportunities, and stimulate economic growth.

The CVFF is designed to provide competitive vessel financing for Nigerian operators, enhancing the country's maritime capacity and retaining value within the domestic economy.