Expanding Indigenous Maritime Capacity In Nigeria Through The CVFF

The maritime industry is pivotal to the economic growth and development of a prosperous Nigeria, thus, it is imperative for Nigeria to expand the capacity of indigenous maritime operators to enable effective participation in the country's maritime activities and transactions. Participation of indigenous operators should encompass all maritime-related business activities, from offshore to onshore, including port activities, shipping transport, ship construction, repairs and associated maintenance activities. However, the participation of indigenous operators appears severely constrained by financing challenges due to the significant capital outlay required for vessel acquisition and other maritime infrastructure needed for the efficient delivery of services. This financial constraint has made indigenous operators unable to take full advantage of several business opportunities available in the Nigerian and West African maritime markets. Recognising the need to enhance