BY FRONTLINE REPORTERS

The Nigerian Maritime Administration and Safety Agency, NIMASA, is set to introduce electronic vessel registration by November, in a major digitalisation drive expected to transform ship registration and significantly improve the ease of doing business in Nigeria’s maritime sector.

The development comes as the first applicant for funding under the long-awaited Cabotage Vessel Financing Fund, CVFF, awaits ministerial approval, with disbursement expected to commence before the end of the year.

The twin developments were disclosed on the sidelines of the ongoing Lagos International Maritime Week by a member of the NIMASA Board, Ms Iroghama Ogbeifun, who said the electronic registration initiative could eliminate some of the delays and bureaucratic bottlenecks associated with the current vessel registration process.

According to her, the digital platform, which has been under development by NIMASA for some time, is expected to make vessel registration faster, more transparent and efficient, while improving the overall business environment for shipowners and operators.

Ogbeifun said the initiative could also stimulate investment in the maritime industry by reducing transaction time and administrative hurdles, thereby improving shipping efficiency, increasing economic activity and boosting government revenue.

She, however, stressed that she was not speaking officially on behalf of NIMASA, but said information available to her indicated that the electronic vessel registration process was expected to be completed by November.

“This is exciting because it is something they have been working on for a long time. If they are able to fully achieve it, it would be a positive development for the maritime industry,” she said.

On the CVFF, Ogbeifun disclosed that the first applicant had reached the final stage of the process and was currently awaiting ministerial approval, raising expectations that the controversial fund could finally begin translating into tangible financing for indigenous shipping operators.

She said the disbursement process was expected to take place before the end of the year, while emphasising the need for strict adherence to eligibility requirements to ensure that only qualified applicants benefit from the fund.

The CVFF was established to provide financial support for indigenous operators and strengthen Nigeria’s capacity to own and operate vessels within the nation’s coastal and inland waterways.

For years, stakeholders in the Nigerian maritime industry have demanded the utilisation of the fund, arguing that its effective deployment would help address the persistent shortage of indigenous vessels, expand local fleet capacity, create jobs and strengthen the participation of Nigerian operators in coastal shipping.

The expected rollout of electronic vessel registration alongside the proposed commencement of CVFF disbursement could therefore mark a significant turning point in efforts to modernise Nigeria’s maritime administration and deepen indigenous participation in the shipping industry.