The Nigerian Indigenous Shipowners Association of Nigeria on Monday stated that its members had started applying for the $700m Cabotage Vessels Financing Fund.
He said before the fund would be disbursed, a minister should be in office, stressing that the fund would soon be disbursed.
“We are engaging the PLIs; we are preparing our documents to submit our applications. We are applying as a group because NISA has a shipping line and individual members can also apply. The application has started but there is no disbursement for now. I believe that very soon there would be disbursement,” Sowho enunciated.“You can ask for less than that if your application is considered worthy. People want to buy strong vessels.
“The maximum they can give an individual is $25m but as a group, I do not know the maximum. Even as a group, you will have to set up a shipping line and I am sure they will treat a group as a unit,” he notedAll rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express written permission from PUNCH.
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