The Director-General of the Nigerian Maritime Administration and Safety Agency, Dr Dayo Mobereola, announced that the agency has received more than 60 applications for the Cabotage Vessels Financing Fund since the portal opened in January.

Mobereola assured stakeholders that the disbursement process will be transparent and strictly monitored.

This was contained in a recent statement by the Deputy Director/Head of Public Relations at NIMASA, Osagie Edward, obtained by The PUNCH.

NIMASA has also reaffirmed its commitment to accountability, improved performance, and sustained growth in the maritime sector with the signing of its 2026 Sectoral Performance Bond, which was overseen by the Honourable Minister of Marine and Blue Economy, Adegboyega Oyetola.

“More than 60 applications have been received since the portal was launched in January 2026, ensuring that the disbursement process will be transparent and strictly monitored,” Mobereola announced.

He described the Performance Bond as a key governance instrument for tracking deliverables, strengthening institutional accountability, and aligning the agency’s operations with national priorities.

Mobereola stated that NIMASA’s ongoing reforms are driven by purposeful leadership and strategic ministerial support, adding that the agency remains committed to delivering on its mandate in line with the Renewed Hope Agenda of President Tinubu’s administration.

On maritime security, Mobereola disclosed that Nigeria “has recorded zero piracy incidents in its territorial waters over the past four years”, attributing the milestone to enhanced surveillance systems and improved inter-agency collaboration.

He further revealed that the agency is at an advanced stage of automating its ship registry processes, a move expected to improve efficiency, reduce delays, and boost Nigeria’s competitiveness in global maritime business.

Mobereola also noted that Nigeria has deposited three conventions with the International Maritime Organization, while three others are awaiting Federal Executive Council approval, underscoring the country’s commitment to international maritime standards.

Speaking further, he noted that Nigeria’s election victory into Category C of the IMO Council in November restored its voice in global maritime governance and strengthened its leadership role in Africa.

In his remarks, Oyetola reiterated the Federal Government’s commitment to using the maritime sector to drive economic diversification, job creation, and foreign exchange earnings. He stressed that the Performance Bonds are binding commitments that will be closely monitored, declaring that “accountability is not optional.”

The Cabotage Vessel Financing Fund Application Portal was officially unveiled on 22 January 2026 by the Federal Government through the Ministry of Marine and Blue Economy, in collaboration with NIMASA.