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Muhammadu Buhari approves cabotage vessel financing fund

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The President of Nigeria, Muhammadu Buhari, has authorised the immediate release of the Cabotage Vessel Financing Fund (CVFF) to eligible Nigerians.

According to the government, this is an effort to increase Nigerians’ ability to build and own ships domestically.

Transport Minister Mu’azu Jaji Sambo made the news at a press conference, saying that the Presidential approval received by the Ministry last Friday affirmed Union, Zenith, Polaris, UBA, and Jaiz Banks as the appointed primary lending institutions for the release of the money.

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Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Dr Bashir Jamoh, recently said that the agency had more than N16 billion and $350 million ready for distribution.

He explained that their preliminary findings were split evenly between Naira and US dollars.

“So far, the funds available under the CVFF in naira component are around N16,000,000,000:00, while contributions in Dollar component hover around the $350,000,000:00,” he said.

The minister also mentioned that preparations for implementation are already underway, with communications between the Ministry of Transportation, the Minister of Finance, and the Governor of the Central Bank of Nigeria established.

He said, “The president of the Federal Republic of Nigeria, Muhammadu Buhari, has approved my request for the disbursement of the Cabotage Vessel Financing Fund.”

“It is my belief that finally, we are going to break the 17-year-old jinx that has hindered the expansion of the maritime industry.

“We have made a case that the funds belong to you, the ship owners. Mr President is a man who respects the law and is on the same page with us to proceed with immediate effect.

“We will liaise with the Minister of Finance, Budget and National Planning and the Governor of the Central Bank of Nigeria (CBN) to work immediately for the approval.

“We have pledged to the president that they will continue to allow the funds to go into the Treasury Single Account, TSA. However, whenever the money hits the threshold of $ 50 million, the CBN, upon recommendation from the Nigerian Maritime Administration and Safety Agency (NIMASA) and the Federal Ministry of Transportation, would be expected to transfer the funds to the Primary Lending Institutions.”

The CVFF was set up in conjunction with the Nigerian Coastal and Inland Shipping (Cabotage) Act of 2003 to give native ship owners a say in the Cabotage trade, which involves transporting goods through Nigeria’s coasts and inland waterways.

The Fund’s applicants would put in 15% of their own money, NIMASA would put in 35%, and the banks would put in the remaining 50%.

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“My dad Wizkid is not the one begging for pussy” — Son

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When it comes to savage responses, the Baloguns specifically those related to Wizkid by blood, are not to be trifled with and being Davido does not save you from such.

In a recent social media exchange, 13-year-old Boluwatife Balogun, the eldest son of renowned Nigerian artiste Wizkid, threw some savage response at his father’s rival, David Adeleke following their online spat.

Facing some online banter from a Davido fan, Boluwatife Balogun came to his father’s defense rather than keep mute.

The ongoing rivalry between Wizkid and Davido escalated in recent days, with both artistes engaging in public spats and trading insults online. Davido, responding to Wizkid’s jibes, took aim at Wizkid’s physical stature, claiming that Wizkid is so short that he wears size 7 shoes and jokingly suggesting he shops at Footlocker Kids.

Some individuals on social media supported Davido’s claims by sharing photos purportedly showing Wizkid wearing shoes matching his son Bolu’s shoe size.

Davido further escalated the feud by disparaging Wizkid’s music, boasting about his own hits, and challenging Wizkid to release new music simultaneously. He also ridiculed Wizkid’s height, suggesting that despite his own short stature, Wizkid is even shorter.

A Davido fan, seizing the opportunity to taunt Wizkid’s family, commented on Boluwatife Balogun’s TikTok page, asking if it was true that both Bolu and his father wear the same shoe size.

Bolu promptly responded to the taunt, defending his father by highlighting Wizkid’s character and integrity, asserting that despite any jokes about shoe sizes, his father doesn’t stoop to begging for attention or engaging in inappropriate behavior.

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Liverpool go Rome ahead of 2024/25 season

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Their current campaign may not be going well despite the huge promises they started it with, but Liverpool are ready to look away and perhaps travel back decades before as they prepare for the post-Jurgen Klopp era.

Ahead of the upcoming 2024/25 season, the Merseyside outfit has released its new home kit for the incoming campaign, with Nike, the club’s official shirt designer taking inspirations from Liverpool’s 1983/84 season that saw the Reds lift their 4th European Cup in Rome.

Go Rome or go Home it appears the plan by Nike for Liverpool heading into the incoming campaign, and the Reds were sure to model the new home kit release.

Liverpool go Rome ahead of 2024/25 season

First team stars such as Virgil van Dijk, Luis Diaz, Trent Alexander-Arnold, Mohamed Salah were on to model the new jersey despite transfer speculations going down about their potential exit from the club post Jurgen Klopp.

Other first team figures seen modeling the new home kit are Alexis Mac Alister, Alisson Becker, Dominik Szoboszlai, Cody Gakpo, Ibrahima Konate, Curtis Jones and Joe Gomez (also rumored to be eyeing an exit).

Liverpool go Rome ahead of 2024/25 season

Missing figures from the new home kit release however are those who currently are on the sidelines thanks to fitness issues, such as Diogo Jota, Conor Bradley, Joel Matip, Thiago Alcantara, Adrian san Miguel and their academy graduates; Jarrell Quansah, Stefan Bajcetic and the likes.

Out from the names, Joel Matip, Thiago Alcantara and goalie Adrian san Miguel are figures doubtful of remaining at the club next season.

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Former Lawmaker Exposes Fake News on UAE Visa Ban Saga

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Former federal lawmaker, Shehu Sabi has criticized the individual responsible for spreading false information about the United Arab Emirates (UAE) lifting the visa ban on Nigeria.

This misinformation surfaced two years after the UAE imposed the ban and rejected pending visa applications from Nigerians.

Despite reports circulating on Tuesday about the resumption of visa services for Nigerians, the Nigerian government promptly refuted the claims.

Sani, who represented Kaduna central senatorial district in the 8th Assembly, expressed dismay, stating that the person behind the fake news is not trustworthy and emphasized that this marks the third occurrence of such misinformation.

He also raised concerns about the possibility of the individual being a travel agent.

 

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