The Nigerian Content Development and Monitoring Board, NCDMB, has facilitated access to its $360 million intervention fund for ten indigenous shipping firms, reinforcing efforts to enhance local participation in the maritime sector.
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The fund, administered through the Bank of Industry, has recorded a low default rate, with beneficiaries repaying their loans promptly, according to the NCDMB’s General Manager for Research, Statistics, and Development, Silas Ajimijaye.
Officials say the initiative is part of broader efforts to support indigenous firms and strengthen Nigeria’s capacity in the shipping industry.
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